Adobe Inc. (NASDAQ:ADBE) Shares Sold by Captrust Financial Advisors

Captrust Financial Advisors reduced its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 62.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,164 shares of the software company’s stock after selling 96,705 shares during the period. Captrust Financial Advisors’ holdings in Adobe were worth $25,864,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of ADBE. Nordea Investment Management AB increased its stake in Adobe by 2.0% during the fourth quarter. Nordea Investment Management AB now owns 1,712,616 shares of the software company’s stock valued at $765,094,000 after purchasing an additional 33,414 shares during the last quarter. Pensionfund Sabic acquired a new position in shares of Adobe in the 4th quarter valued at about $2,668,000. Doliver Advisors LP grew its position in shares of Adobe by 12.4% during the 4th quarter. Doliver Advisors LP now owns 3,136 shares of the software company’s stock valued at $1,395,000 after buying an additional 345 shares during the last quarter. Diversified Trust Co raised its stake in Adobe by 27.6% during the fourth quarter. Diversified Trust Co now owns 8,222 shares of the software company’s stock worth $3,656,000 after acquiring an additional 1,776 shares during the period. Finally, Norway Savings Bank lifted its holdings in Adobe by 33.3% in the fourth quarter. Norway Savings Bank now owns 2,262 shares of the software company’s stock worth $1,006,000 after acquiring an additional 565 shares during the last quarter. Institutional investors own 81.79% of the company’s stock.

Insider Buying and Selling at Adobe

In related news, CFO Daniel Durn purchased 1,300 shares of Adobe stock in a transaction on Thursday, March 20th. The stock was bought at an average price of $390.58 per share, with a total value of $507,754.00. Following the completion of the transaction, the chief financial officer now directly owns 29,876 shares of the company’s stock, valued at approximately $11,668,968.08. This represents a 4.55 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.16% of the company’s stock.

Adobe Stock Up 0.0 %

Shares of NASDAQ:ADBE opened at $381.06 on Tuesday. The firm has a 50 day simple moving average of $384.21 and a 200 day simple moving average of $439.38. Adobe Inc. has a 52 week low of $332.01 and a 52 week 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 company has a market cap of $162.41 billion, a PE ratio of 30.73, a price-to-earnings-growth ratio of 2.15 and a beta of 1.55.

Adobe (NASDAQ:ADBE) last released its earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share (EPS) for the quarter, beating 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 company had revenue of $5.71 billion during the quarter, compared to analyst estimates of $5.66 billion. During the same quarter in the prior year, the company earned $4.48 earnings per share. As a group, research analysts expect that Adobe Inc. will post 16.65 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Morgan Stanley lowered their target price on Adobe from $600.00 to $510.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. JPMorgan Chase & Co. lowered their price objective on Adobe from $580.00 to $540.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Bank of America cut their target price on Adobe from $605.00 to $528.00 and set a “buy” rating on the stock in a research note on Thursday, March 13th. Redburn Atlantic assumed coverage on shares of Adobe in a research report on Wednesday, February 19th. They set a “neutral” rating for the company. Finally, Citigroup cut their price objective on shares of Adobe from $551.00 to $490.00 and set a “neutral” rating on the stock in a research report on Monday, March 10th. Eleven research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $502.88.

About Adobe

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.