Adobe Inc. (NASDAQ:ADBE) Shares Sold by Fiera Capital Corp

Fiera Capital Corp reduced its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 0.8% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 405,776 shares of the software company’s stock after selling 3,212 shares during the period. Fiera Capital Corp’s holdings in Adobe were worth $210,103,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Piscataqua Savings Bank boosted its position in shares of Adobe by 226.7% in the third quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock worth $25,000 after buying an additional 34 shares during the period. Summit Securities Group LLC purchased a new position in Adobe in the 2nd quarter worth approximately $33,000. Highline Wealth Partners LLC acquired a new stake in Adobe in the third quarter valued at approximately $38,000. Lynx Investment Advisory purchased a new stake in shares of Adobe during the second quarter valued at approximately $39,000. Finally, Hobbs Group Advisors LLC acquired a new position in shares of Adobe during the second quarter worth $39,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on ADBE. Bank of America reaffirmed a “buy” rating and set a $640.00 price target on shares of Adobe in a research note on Friday, September 13th. UBS Group cut their price target on Adobe from $560.00 to $550.00 and set a “neutral” rating on the stock in a research note on Friday, September 13th. JMP Securities restated a “market perform” rating on shares of Adobe in a research note on Friday, September 13th. Citigroup raised their price target on shares of Adobe from $550.00 to $621.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 11th. Finally, Barclays lifted their price target on Adobe from $650.00 to $675.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 4th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $606.40.

Adobe Price Performance

Shares of NASDAQ:ADBE traded down $4.75 during trading hours on Friday, hitting $496.17. 676,162 shares of the company’s stock traded hands, compared to its average volume of 3,148,372. Adobe Inc. has a 52 week low of $433.97 and a 52 week high of $638.25. The company has a market cap of $218.41 billion, a price-to-earnings ratio of 42.31, a price-to-earnings-growth ratio of 2.48 and a beta of 1.30. The company’s fifty day simple moving average is $517.87 and its two-hundred day simple moving average is $516.33. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.11 and a current ratio of 1.11.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Thursday, September 12th. The software company reported $4.65 earnings per share for the quarter, topping analysts’ consensus estimates of $4.53 by $0.12. The firm had revenue of $5.41 billion for the quarter, compared to analysts’ expectations of $5.37 billion. Adobe had a return on equity of 42.82% and a net margin of 25.59%. Adobe’s revenue was up 10.6% on a year-over-year basis. During the same quarter last year, the business posted $3.26 EPS. As a group, equities analysts anticipate that Adobe Inc. will post 14.82 EPS for the current fiscal year.

Insider Transactions at Adobe

In other news, CFO Daniel Durn sold 6,500 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $515.44, for a total value of $3,350,360.00. Following the completion of the sale, the chief financial officer now directly owns 20,838 shares of the company’s stock, valued at $10,740,738.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Shantanu Narayen sold 25,000 shares of the stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $521.58, for a total value of $13,039,500.00. Following the transaction, the chief executive officer now owns 357,700 shares in the company, valued at approximately $186,569,166. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Daniel Durn sold 6,500 shares of Adobe stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $515.44, for a total transaction of $3,350,360.00. Following the completion of the sale, the chief financial officer now owns 20,838 shares of the company’s stock, valued at $10,740,738.72. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,187 shares of company stock valued at $17,736,369 over the last quarter. Company insiders own 0.15% of the company’s stock.

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.