Operose Advisors LLC Has $123,000 Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

Operose Advisors LLC reduced its stake in Adobe Inc. (NASDAQ:ADBE) by 26.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 276 shares of the software company’s stock after selling 100 shares during the period. Operose Advisors LLC’s holdings in Adobe were worth $123,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Geode Capital Management LLC lifted its holdings in shares of Adobe by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 10,680,375 shares of the software company’s stock valued at $4,739,788,000 after acquiring an additional 151,286 shares during the period. Norges Bank acquired a new position in Adobe in the fourth quarter valued at about $2,553,035,000. Edgewood Management LLC grew its stake in Adobe by 20.7% during the fourth quarter. Edgewood Management LLC now owns 4,059,119 shares of the software company’s stock worth $1,805,009,000 after buying an additional 696,172 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Adobe by 3.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,808,909 shares of the software company’s stock worth $1,249,066,000 after buying an additional 92,458 shares in the last quarter. Finally, Franklin Resources Inc. boosted its holdings in shares of Adobe by 7.3% in the 3rd quarter. Franklin Resources Inc. now owns 2,424,024 shares of the software company’s stock worth $1,235,157,000 after acquiring an additional 163,983 shares in the last quarter. 81.79% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ADBE. Oppenheimer dropped their price target on Adobe from $560.00 to $530.00 and set an “outperform” rating for the company in a report on Thursday, March 13th. UBS Group reduced their price target on shares of Adobe from $410.00 to $380.00 and set a “neutral” rating on the stock in a research report on Friday. Stifel Nicolaus lowered their price objective on shares of Adobe from $600.00 to $525.00 and set a “buy” rating for the company in a research report on Thursday, March 13th. 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 report on Monday, March 10th. Finally, BMO Capital Markets lowered their target price on shares of Adobe from $515.00 to $495.00 and set an “outperform” rating for the company in a report on Thursday, March 13th. Eleven analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $518.46.

Adobe Stock Down 0.4 %

ADBE stock opened at $350.91 on Tuesday. The business has a 50-day moving average of $411.27 and a 200-day moving average of $454.13. 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 capitalization of $149.56 billion, a P/E ratio of 28.30, a P/E/G ratio of 2.15 and a beta of 1.49. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share for the quarter, topping the consensus estimate of $4.97 by $0.11. The company had revenue of $5.71 billion during the quarter, compared to analysts’ expectations of $5.66 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. During the same period last year, the business earned $4.48 EPS. On average, sell-side analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Daniel Durn bought 1,300 shares of the company’s stock in a transaction that occurred on Thursday, March 20th. The shares were acquired at an average price of $390.58 per share, for a total transaction of $507,754.00. Following the completion of the acquisition, the chief financial officer now owns 29,876 shares of the company’s stock, valued at approximately $11,668,968.08. The trade was a 4.55 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Scott Belsky sold 3,819 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 18,334 shares of the company’s stock, valued at approximately $7,888,020.16. This represents a 17.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,075 shares of company stock valued at $2,191,826 in the last three months. 0.16% of the stock is currently owned by corporate insiders.

Adobe 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.