LVM Capital Management Ltd. MI Cuts Stock Position in Adobe Inc. (NASDAQ:ADBE)

LVM Capital Management Ltd. MI reduced its position in Adobe Inc. (NASDAQ:ADBE) by 18.1% 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 783 shares of the software company’s stock after selling 173 shares during the quarter. LVM Capital Management Ltd. MI’s holdings in Adobe were worth $348,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of ADBE. International Assets Investment Management LLC increased its stake in Adobe by 66,909.7% during the 3rd quarter. International Assets Investment Management LLC now owns 1,378,390 shares of the software company’s stock worth $713,703,000 after buying an additional 1,376,333 shares during the period. Longview Partners Guernsey LTD purchased a new stake in shares of Adobe during the second quarter worth $663,745,000. FMR LLC raised its stake in shares of Adobe by 8.8% in the third quarter. FMR LLC now owns 9,690,163 shares of the software company’s stock valued at $5,017,373,000 after acquiring an additional 787,356 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its holdings in Adobe by 982.4% in the second quarter. Mercer Global Advisors Inc. ADV now owns 541,670 shares of the software company’s stock valued at $300,919,000 after purchasing an additional 491,627 shares during the period. Finally, Erste Asset Management GmbH purchased a new stake in Adobe during the 3rd quarter worth about $126,703,000. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Scott Belsky sold 481 shares of Adobe stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $483.42, for a total transaction of $232,525.02. Following the completion of the transaction, the executive vice president now directly owns 18,128 shares in the company, valued at $8,763,437.76. The trade was a 2.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Jillian Forusz sold 676 shares of the company’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $484.97, for a total value of $327,839.72. Following the completion of the sale, the chief accounting officer now owns 2,715 shares in the company, valued at $1,316,693.55. This represents a 19.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,293 shares of company stock worth $1,679,809. 0.15% of the stock is owned by company insiders.

Analysts Set New Price Targets

ADBE has been the subject of several recent research reports. Wells Fargo & Company decreased their price objective on Adobe from $700.00 to $640.00 and set an “overweight” rating for the company in a research note on Tuesday. StockNews.com upgraded shares of Adobe from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 18th. Royal Bank of Canada reduced their price objective on shares of Adobe from $610.00 to $590.00 and set an “outperform” rating on the stock in a report on Thursday, December 12th. Barclays lowered their target price on shares of Adobe from $675.00 to $645.00 and set an “overweight” rating for the company in a research note on Thursday, December 12th. Finally, UBS Group decreased their price target on Adobe from $525.00 to $475.00 and set a “neutral” rating for the company in a report on Friday, January 3rd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $575.85.

Adobe Stock Performance

Shares of ADBE stock traded down $10.27 during mid-day trading on Friday, hitting $409.31. The stock had a trading volume of 3,210,799 shares, compared to its average volume of 3,795,653. The firm has a market cap of $180.18 billion, a PE ratio of 33.01, a PEG ratio of 2.51 and a beta of 1.31. The company’s 50-day simple moving average is $485.54 and its 200-day simple moving average is $517.97. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.11 and a quick ratio of 1.11. Adobe Inc. has a fifty-two week low of $405.32 and a fifty-two week high of $638.25.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, beating the consensus estimate of $4.67 by $0.14. Adobe had a return on equity of 45.22% and a net margin of 25.85%. The business had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.54 billion. During the same period last year, the firm earned $3.52 EPS. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. Sell-side analysts anticipate that Adobe Inc. will post 16.73 earnings per share for the current 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.