One Charles Private Wealth Services LLC Trims Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

One Charles Private Wealth Services LLC lowered its stake in Adobe Inc. (NASDAQ:ADBE) by 22.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 596 shares of the software company’s stock after selling 174 shares during the quarter. One Charles Private Wealth Services LLC’s holdings in Adobe were worth $265,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Lee Danner & Bass Inc. purchased a new position in shares of Adobe during the 4th quarter worth approximately $56,000. AllSquare Wealth Management LLC lifted its stake in Adobe by 145.0% during the fourth quarter. AllSquare Wealth Management LLC now owns 316 shares of the software company’s stock worth $141,000 after purchasing an additional 187 shares in the last quarter. Douglass Winthrop Advisors LLC boosted its position in shares of Adobe by 11.3% during the fourth quarter. Douglass Winthrop Advisors LLC now owns 2,517 shares of the software company’s stock worth $1,119,000 after buying an additional 255 shares during the period. Lingohr Asset Management GmbH purchased a new position in shares of Adobe during the fourth quarter worth $339,000. Finally, iA Global Asset Management Inc. raised its holdings in shares of Adobe by 3.8% in the 4th quarter. iA Global Asset Management Inc. now owns 47,447 shares of the software company’s stock valued at $21,099,000 after buying an additional 1,727 shares during the period. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Adobe news, EVP Scott Belsky sold 3,819 shares of Adobe stock in a transaction on Monday, January 27th. The shares were sold at an average price of $430.24, for a total value of $1,643,086.56. Following the transaction, the executive vice president now directly owns 18,334 shares in the company, valued at approximately $7,888,020.16. The trade was a 17.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director David A. Ricks bought 2,250 shares of Adobe stock in a transaction dated Tuesday, January 28th. The stock was acquired at an average cost of $443.98 per share, with a total value of $998,955.00. Following the completion of the acquisition, the director now directly owns 4,984 shares of the company’s stock, valued at approximately $2,212,796.32. The trade was a 82.30 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 5,075 shares of company stock valued at $2,191,826 in the last ninety days. 0.16% of the stock is currently owned by company insiders.

Adobe Stock Performance

Shares of ADBE stock opened at $389.61 on Friday. Adobe Inc. has a 1 year low of $374.50 and a 1 year high of $587.75. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07. The firm has a market cap of $169.64 billion, a price-to-earnings ratio of 31.42, a PEG ratio of 2.15 and a beta of 1.37. The stock’s 50-day moving average is $434.53 and its two-hundred day moving average is $477.76.

Adobe (NASDAQ:ADBE) last released its quarterly earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.97 by $0.11. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The firm had revenue of $5.71 billion for the quarter, compared to the consensus estimate of $5.66 billion. During the same quarter last year, the business posted $4.48 EPS. Analysts predict that Adobe Inc. will post 16.65 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Morgan Stanley lowered their target price on Adobe from $660.00 to $600.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. TD Cowen lowered shares of Adobe from a “buy” rating to a “hold” rating and lowered their price objective for the company from $625.00 to $550.00 in a research note on Thursday, December 12th. JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a research note on Thursday, December 12th. Evercore ISI decreased their price target on shares of Adobe from $650.00 to $550.00 and set an “outperform” rating for the company in a research report on Thursday, March 13th. Finally, Oppenheimer cut their price objective on Adobe from $560.00 to $530.00 and set an “outperform” rating on the stock in a research report on Thursday, March 13th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $538.80.

Adobe Company Profile

Adobe Inc, together with its subsidiaries, operates as a diversified software company worldwide. It operates through three segments: Digital Media, Digital Experience, and Publishing and Advertising. The Digital Media segment offers products, services, and solutions that enable individuals, teams, and enterprises to create, publish, and promote content; and Document Cloud, a unified cloud-based document services platform.