Menora Mivtachim Holdings LTD. Sells 24,144 Shares of Adobe Inc. (NASDAQ:ADBE)

Menora Mivtachim Holdings LTD. decreased its position in Adobe Inc. (NASDAQ:ADBE) by 6.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 345,780 shares of the software company’s stock after selling 24,144 shares during the quarter. Menora Mivtachim Holdings LTD. owned 0.08% of Adobe worth $153,761,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Decker Retirement Planning Inc. acquired a new stake in shares of Adobe during the fourth quarter worth approximately $31,000. Summit Securities Group LLC bought a new stake in Adobe during the 4th quarter worth approximately $31,000. Caitlin John LLC raised its position in Adobe by 171.4% in the 4th quarter. Caitlin John LLC now owns 76 shares of the software company’s stock valued at $34,000 after purchasing an additional 48 shares during the last quarter. Mascoma Wealth Management LLC boosted its stake in Adobe by 142.9% in the fourth quarter. Mascoma Wealth Management LLC now owns 85 shares of the software company’s stock worth $38,000 after purchasing an additional 50 shares in the last quarter. Finally, LFA Lugano Financial Advisors SA bought a new stake in shares of Adobe during the fourth quarter worth $38,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on ADBE shares. Redburn Atlantic started coverage on Adobe in a research report on Wednesday, February 19th. They issued a “neutral” rating for the company. KeyCorp raised shares of Adobe from an “underweight” rating to a “sector weight” rating in a research note on Friday, March 21st. Morgan Stanley reduced their price objective on shares of Adobe from $660.00 to $600.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Stifel Nicolaus dropped their target price on shares of Adobe from $600.00 to $525.00 and set a “buy” rating for the company in a research report on Thursday, March 13th. Finally, Evercore ISI reduced their price target on Adobe from $650.00 to $550.00 and set an “outperform” rating on the stock in a research report on Thursday, March 13th. Eleven analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $527.12.

Adobe Stock Performance

Shares of ADBE stock opened at $352.47 on Friday. 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 Inc. has a 12 month low of $332.01 and a 12 month high of $587.75. The company’s fifty day simple moving average is $413.00 and its 200-day simple moving average is $455.70. The firm has a market cap of $150.22 billion, a PE ratio of 28.43, a P/E/G ratio of 2.15 and a beta of 1.49.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share for the quarter, topping the consensus estimate of $4.97 by $0.11. The firm had revenue of $5.71 billion for the quarter, compared to analyst estimates of $5.66 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. During the same quarter in the previous year, the firm earned $4.48 EPS. Equities research analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Insider Buying and Selling at Adobe

In other Adobe news, Director David A. Ricks bought 2,250 shares of the stock in a transaction dated Tuesday, January 28th. The shares were bought at an average cost of $443.98 per share, with a total value of $998,955.00. Following the completion of the acquisition, the director now 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 purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Scott Belsky sold 3,819 shares of the firm’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $430.24, for a total value of $1,643,086.56. Following the transaction, the executive vice president now owns 18,334 shares in the company, valued at approximately $7,888,020.16. This trade represents a 17.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,075 shares of company stock worth $2,191,826 over the last 90 days. Company 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.