Adobe Inc. (NASDAQ:ADBE) Shares Sold by Stifel Financial Corp

Stifel Financial Corp reduced its holdings in Adobe Inc. (NASDAQ:ADBEFree Report) by 4.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 729,301 shares of the software company’s stock after selling 33,250 shares during the quarter. Stifel Financial Corp’s holdings in Adobe were worth $324,304,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Decker Retirement Planning Inc. acquired a new position in shares of Adobe during the 4th quarter valued at about $31,000. Summit Securities Group LLC purchased a new stake in Adobe in the fourth quarter valued at approximately $31,000. Caitlin John LLC increased its position in Adobe by 171.4% during the fourth quarter. Caitlin John LLC now owns 76 shares of the software company’s stock worth $34,000 after purchasing an additional 48 shares during the last quarter. Mascoma Wealth Management LLC raised its stake in Adobe by 142.9% during 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 during the period. Finally, LFA Lugano Financial Advisors SA purchased a new position in Adobe during the fourth quarter worth approximately $38,000. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Bank of America dropped their price objective on Adobe from $605.00 to $528.00 and set a “buy” rating for the company in a report on Thursday, March 13th. BNP Paribas upgraded Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 price target for the company in a research note on Wednesday, January 15th. Mizuho reduced their price objective on Adobe from $620.00 to $575.00 and set an “outperform” rating on the stock in a research note on Thursday, March 13th. Royal Bank of Canada dropped their target price on shares of Adobe from $530.00 to $480.00 and set an “outperform” rating for the company in a research report on Monday, April 14th. Finally, Oppenheimer reduced their price target on shares of Adobe from $560.00 to $530.00 and set an “outperform” rating on the stock in a research report on Thursday, March 13th. Eleven equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $513.27.

Read Our Latest Stock Analysis on ADBE

Insider Buying and Selling at Adobe

In other news, CAO Jillian Forusz sold 334 shares of the business’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total value of $145,567.22. Following the completion of the sale, the chief accounting officer now directly owns 2,685 shares in the company, valued at approximately $1,170,203.55. The trade was a 11.06 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Scott Belsky sold 922 shares of the firm’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $437.28, for a total value of $403,172.16. Following the transaction, the executive vice president now owns 22,153 shares in the company, valued at $9,687,063.84. This trade represents a 4.00 % decrease in their ownership of the stock. 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 quarter. 0.16% of the stock is owned by corporate insiders.

Adobe Stock Up 1.3 %

ADBE stock opened at $348.80 on Monday. The company has a market capitalization of $148.66 billion, a P/E ratio of 28.13, a PEG ratio of 2.15 and a beta of 1.49. The firm has a 50 day simple moving average of $403.54 and a 200-day simple moving average of $449.67. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29. Adobe Inc. has a twelve month low of $332.01 and a twelve month high of $587.75.

Adobe (NASDAQ:ADBEGet Free Report) last announced its quarterly earnings data 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 company had revenue of $5.71 billion during the quarter, compared to analyst estimates of $5.66 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. During the same period last year, the business earned $4.48 EPS. On average, equities research analysts predict that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

About Adobe

(Free Report)

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.

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Institutional Ownership by Quarter for Adobe (NASDAQ:ADBE)

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