Adobe Inc. (NASDAQ:ADBE) Shares Sold by Brown Shipley& Co Ltd

Brown Shipley& Co Ltd lessened its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 13.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 463 shares of the software company’s stock after selling 72 shares during the period. Brown Shipley& Co Ltd’s holdings in Adobe were worth $206,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in ADBE. Ameritas Advisory Services LLC increased its position in Adobe by 4.3% during the fourth quarter. Ameritas Advisory Services LLC now owns 2,939 shares of the software company’s stock worth $1,307,000 after buying an additional 121 shares during the period. Pure Financial Advisors LLC increased its position in Adobe by 79.7% during the fourth quarter. Pure Financial Advisors LLC now owns 1,953 shares of the software company’s stock worth $869,000 after buying an additional 866 shares during the period. Fort Washington Investment Advisors Inc. OH increased its position in Adobe by 0.9% during the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 3,641 shares of the software company’s stock worth $1,619,000 after buying an additional 33 shares during the period. Aspire Private Capital LLC increased its position in Adobe by 16.2% during the fourth quarter. Aspire Private Capital LLC now owns 1,847 shares of the software company’s stock worth $821,000 after buying an additional 257 shares during the period. Finally, Mirabaud & Cie SA increased its position in Adobe by 48.0% during the fourth quarter. Mirabaud & Cie SA now owns 7,141 shares of the software company’s stock worth $3,175,000 after buying an additional 2,315 shares during the period. Institutional investors and hedge funds own 81.79% of the company’s stock.

Insider Buying and Selling

In other Adobe news, CFO Daniel Durn bought 1,300 shares of Adobe stock in a transaction that occurred on Thursday, March 20th. The shares were purchased at an average cost of $390.58 per share, for a total transaction of $507,754.00. Following the completion of the transaction, the chief financial officer now owns 29,876 shares of the company’s stock, valued at $11,668,968.08. This represents a 4.55% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.16% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on ADBE shares. StockNews.com lowered Adobe from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 4th. Jefferies Financial Group lowered their target price on Adobe from $650.00 to $590.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. Stifel Nicolaus lowered their target price on Adobe from $600.00 to $525.00 and set a “buy” rating on the stock in a research note on Thursday, March 13th. Bank of America lowered 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. Finally, Wells Fargo & Company lowered their target price on Adobe from $600.00 to $430.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 22nd. Eleven analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $502.88.

Adobe Stock Performance

NASDAQ ADBE opened at $414.03 on Thursday. Adobe Inc. has a fifty-two week low of $332.01 and a fifty-two week high of $587.75. The stock has a market cap of $176.46 billion, a price-to-earnings ratio of 33.39, a price-to-earnings-growth ratio of 2.15 and a beta of 1.55. The business has a fifty day moving average of $376.51 and a 200-day moving average of $432.95. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29.

Adobe (NASDAQ:ADBE) last released its quarterly earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share 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 company had revenue of $5.71 billion during the quarter, compared to analysts’ expectations of $5.66 billion. During the same period in the previous year, the firm posted $4.48 earnings per share. As a group, analysts predict that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

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.