Rosenblum Silverman Sutton S F Inc. CA Cuts Stake in Adobe Inc. (NASDAQ:ADBE)

Rosenblum Silverman Sutton S F Inc. CA lessened its holdings in Adobe Inc. (NASDAQ:ADBE) by 3.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 24,209 shares of the software company’s stock after selling 833 shares during the period. Adobe makes up approximately 2.7% of Rosenblum Silverman Sutton S F Inc. CA’s portfolio, making the stock its 13th largest position. Rosenblum Silverman Sutton S F Inc. CA’s holdings in Adobe were worth $10,765,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Legacy Investment Solutions LLC acquired a new position in Adobe during the 3rd quarter worth $26,000. Groupama Asset Managment boosted its stake in shares of Adobe by 28.8% in the 3rd 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. Decker Retirement Planning Inc. acquired a new position in shares of Adobe during the fourth quarter worth about $31,000. Summit Securities Group LLC purchased a new stake in shares of Adobe during the fourth quarter worth approximately $31,000. Finally, Caitlin John LLC raised its holdings in Adobe by 171.4% in the fourth quarter. Caitlin John LLC now owns 76 shares of the software company’s stock valued at $34,000 after acquiring an additional 48 shares in the last quarter. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on ADBE. Mizuho dropped their price objective on shares of Adobe from $620.00 to $575.00 and set an “outperform” rating on the stock in a research report on Thursday, March 13th. Morgan Stanley cut their price target on Adobe from $660.00 to $600.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. TD Cowen cut Adobe from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $625.00 to $550.00 in a research report on Thursday, December 12th. Redburn Atlantic assumed coverage on Adobe in a research report on Wednesday, February 19th. They set a “neutral” rating on the stock. Finally, BMO Capital Markets lowered their price target on Adobe from $515.00 to $495.00 and set an “outperform” rating for the company in a report on Thursday, March 13th. Eleven equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $531.54.

Adobe Trading Down 4.8 %

Shares of Adobe stock opened at $367.25 on Friday. The company has a 50-day moving average of $427.38 and a two-hundred day moving average of $465.15. Adobe Inc. has a 12-month low of $359.66 and a 12-month high of $587.75. 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 stock has a market cap of $156.52 billion, a PE ratio of 29.62, a price-to-earnings-growth ratio of 2.15 and a beta of 1.49.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share for the quarter, beating analysts’ consensus estimates of $4.97 by $0.11. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The business had revenue of $5.71 billion during the quarter, compared to analysts’ expectations of $5.66 billion. During the same quarter last year, the business posted $4.48 earnings per share. On average, research analysts anticipate that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Jillian Forusz sold 334 shares of the firm’s stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $435.83, for a total transaction of $145,567.22. Following the sale, the chief accounting officer now owns 2,685 shares in the company, valued at approximately $1,170,203.55. This trade represents a 11.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Daniel Durn purchased 1,300 shares of the business’s stock in a transaction on Thursday, March 20th. The stock was acquired at an average price of $390.58 per share, with a total value of $507,754.00. Following the completion of the acquisition, the chief financial officer now directly owns 29,876 shares in the company, valued at $11,668,968.08. The trade was a 4.55 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 5,075 shares of company stock worth $2,191,826. Insiders own 0.16% 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.