First Bank & Trust Sells 681 Shares of Adobe Inc. (NASDAQ:ADBE)

First Bank & Trust reduced its stake in Adobe Inc. (NASDAQ:ADBE) by 17.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,252 shares of the software company’s stock after selling 681 shares during the period. First Bank & Trust’s holdings in Adobe were worth $1,446,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Legacy Investment Solutions LLC bought a new stake in shares of Adobe in the third quarter valued at approximately $26,000. Groupama Asset Managment boosted its stake in shares of Adobe by 28.8% in the third quarter. Groupama Asset Managment now owns 51,482 shares of the software company’s stock valued at $27,000 after buying an additional 11,522 shares during the period. MidAtlantic Capital Management Inc. bought a new stake in shares of Adobe in the third quarter valued at approximately $30,000. True Wealth Design LLC boosted its stake in shares of Adobe by 141.7% in the third quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock valued at $30,000 after buying an additional 34 shares during the period. Finally, Decker Retirement Planning Inc. bought a new stake in shares of Adobe in the fourth quarter valued at approximately $31,000. 81.79% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ADBE has been the subject of several recent research reports. Citigroup cut their price target on Adobe from $616.00 to $590.00 and set a “neutral” rating for the company in a research note on Monday, December 9th. JMP Securities restated a “market perform” rating on shares of Adobe in a research report on Thursday, December 12th. BNP Paribas upgraded shares of Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 price objective for the company in a research report on Wednesday, January 15th. DA Davidson lowered their price objective on shares of Adobe from $685.00 to $625.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. Finally, Mizuho lowered their price objective on shares of Adobe from $640.00 to $620.00 and set an “outperform” rating for the company in a research report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $570.88.

Adobe Stock Performance

NASDAQ ADBE opened at $456.99 on Thursday. The company has a market capitalization of $198.93 billion, a price-to-earnings ratio of 36.85, a PEG ratio of 2.23 and a beta of 1.31. Adobe Inc. has a twelve month low of $403.75 and a twelve month high of $587.75. The stock has a fifty day simple moving average of $441.28 and a 200 day simple moving average of $494.89. 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 issued its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, beating analysts’ consensus estimates of $4.67 by $0.14. The business had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.54 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.52 earnings per share. Sell-side analysts expect that Adobe Inc. will post 16.65 EPS for the current year.

Insider Buying and Selling at Adobe

In related news, Director David A. Ricks acquired 2,250 shares of the business’s stock in a transaction dated Tuesday, January 28th. The shares were bought at an average price of $443.98 per share, with a total value of $998,955.00. Following the transaction, the director now directly owns 4,984 shares of the company’s stock, valued at $2,212,796.32. This trade represents a 82.30 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Amy Banse sold 606 shares of the stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $550.00, for a total transaction of $333,300.00. Following the transaction, the director now directly owns 32,929 shares in the company, valued at $18,110,950. This trade represents a 1.81 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,681 shares of company stock valued at $2,525,126. 0.15% of the stock is currently owned by 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.