Kathmere Capital Management LLC Has $1.19 Million Position in Adobe Inc. (NASDAQ:ADBE)

Kathmere Capital Management LLC lowered its stake in Adobe Inc. (NASDAQ:ADBE) by 19.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,682 shares of the software company’s stock after selling 660 shares during the quarter. Kathmere Capital Management LLC’s holdings in Adobe were worth $1,193,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. WealthPLAN Partners LLC grew its holdings in Adobe by 20.1% during the second quarter. WealthPLAN Partners LLC now owns 5,395 shares of the software company’s stock worth $2,997,000 after purchasing an additional 903 shares during the period. Lmcg Investments LLC lifted its holdings in Adobe by 8.5% during the 2nd quarter. Lmcg Investments LLC now owns 23,822 shares of the software company’s stock valued at $13,234,000 after purchasing an additional 1,860 shares during the last quarter. Excalibur Management Corp bought a new position in Adobe during the second quarter worth $344,000. Conscious Wealth Investments LLC increased its holdings in shares of Adobe by 1.0% in the second quarter. Conscious Wealth Investments LLC now owns 4,603 shares of the software company’s stock valued at $2,514,000 after purchasing an additional 44 shares during the last quarter. Finally, Stock Yards Bank & Trust Co. raised its position in shares of Adobe by 9.7% in the second quarter. Stock Yards Bank & Trust Co. now owns 41,602 shares of the software company’s stock valued at $23,112,000 after purchasing an additional 3,670 shares during the period. Institutional investors and hedge funds own 81.79% of the company’s stock.

Adobe Price Performance

ADBE stock opened at $412.71 on Wednesday. The company has a market capitalization of $181.67 billion, a P/E ratio of 33.28, a PEG ratio of 2.51 and a beta of 1.31. The company has a fifty day moving average price of $481.07 and a 200-day moving average price of $515.02. 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 Inc. has a 52-week low of $403.75 and a 52-week high of $638.25.

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

Analyst Ratings Changes

A number of research analysts recently commented on ADBE shares. Oppenheimer decreased their price target on shares of Adobe from $625.00 to $600.00 and set an “outperform” rating on the stock in a research note on Thursday, December 12th. BMO Capital Markets dropped their price target on Adobe from $600.00 to $570.00 and set an “outperform” rating for the company in a report on Thursday, December 12th. TD Cowen lowered Adobe from a “buy” rating to a “hold” rating and decreased their price objective for the company from $625.00 to $550.00 in a report on Thursday, December 12th. Jefferies Financial Group lowered their price target on shares of Adobe from $700.00 to $650.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Finally, Royal Bank of Canada cut their price objective on shares of Adobe from $610.00 to $590.00 and set an “outperform” rating for the company in a report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $573.00.

Insider Activity at Adobe

In other news, EVP Scott Belsky sold 481 shares of Adobe stock in a transaction dated Friday, October 25th. The shares were 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. This trade represents a 2.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Jillian Forusz sold 676 shares of the business’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $484.97, for a total transaction of $327,839.72. Following the sale, the chief accounting officer now directly owns 2,715 shares of the company’s stock, valued at approximately $1,316,693.55. The trade was a 19.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,763 shares of company stock valued at $893,665. 0.15% of the stock is owned by company insiders.

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.