Lindbrook Capital LLC Has $1.48 Million Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

Lindbrook Capital LLC cut its position in Adobe Inc. (NASDAQ:ADBE) by 6.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,336 shares of the software company’s stock after selling 242 shares during the period. Lindbrook Capital LLC’s holdings in Adobe were worth $1,483,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Proficio Capital Partners LLC lifted its position in Adobe by 82,528.8% in the 4th quarter. Proficio Capital Partners LLC now owns 1,042,775 shares of the software company’s stock valued at $463,701,000 after acquiring an additional 1,041,513 shares in the last quarter. FMR LLC lifted its position in Adobe by 8.8% in the 3rd 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. Raymond James Financial Inc. bought a new position in Adobe in the 4th quarter valued at about $243,827,000. Assenagon Asset Management S.A. lifted its position in Adobe by 42.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,168,584 shares of the software company’s stock valued at $519,646,000 after acquiring an additional 347,536 shares in the last quarter. Finally, Seilern Investment Management Ltd bought a new position in Adobe in the 4th quarter valued at about $110,744,000. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director David A. Ricks purchased 2,250 shares of Adobe stock in a transaction dated Tuesday, January 28th. The stock was purchased at an average cost of $443.98 per share, for a total transaction of $998,955.00. Following the transaction, the director now directly owns 4,984 shares of the company’s stock, valued at approximately $2,212,796.32. This trade represents a 82.30 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Jillian Forusz sold 334 shares of the company’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total transaction of $145,567.22. Following the completion of the transaction, the chief accounting officer now owns 2,685 shares of the company’s stock, valued at $1,170,203.55. This trade represents a 11.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,681 shares of company stock worth $2,525,126 in the last three months. Corporate insiders own 0.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Citigroup dropped their price target on shares of Adobe from $616.00 to $590.00 and set a “neutral” rating on the stock in a research report on Monday, December 9th. Mizuho dropped their target price on shares of Adobe from $640.00 to $620.00 and set an “outperform” rating on the stock in a research report on Thursday, December 12th. DA Davidson dropped their target price on shares of Adobe from $685.00 to $625.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Barclays dropped their target price on shares of Adobe from $675.00 to $645.00 and set an “overweight” rating on the stock in a research report on Thursday, December 12th. Finally, Piper Sandler dropped their target price on shares of Adobe from $635.00 to $600.00 and set an “overweight” rating on the stock in a research report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Adobe currently has an average rating of “Moderate Buy” and an average price target of $570.88.

Adobe Stock Up 1.2 %

Adobe stock opened at $451.24 on Thursday. Adobe Inc. has a 1-year low of $403.75 and a 1-year high of $587.75. The firm has a market capitalization of $196.42 billion, a price-to-earnings ratio of 36.39, a P/E/G ratio of 2.15 and a beta of 1.37. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29. The firm has a 50 day simple moving average of $439.61 and a 200 day simple moving average of $488.77.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 earnings per share for the quarter, beating analysts’ consensus estimates of $4.67 by $0.14. The business had revenue of $5.61 billion during the quarter, compared to analyst estimates of $5.54 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. Adobe’s revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the business earned $3.52 EPS. On average, analysts predict that Adobe Inc. will post 16.65 earnings per share for the current year.

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.