J. Safra Sarasin Holding AG Trims Stock Position in Adobe Inc. (NASDAQ:ADBE)

J. Safra Sarasin Holding AG trimmed its holdings in Adobe Inc. (NASDAQ:ADBE) by 37.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,261 shares of the software company’s stock after selling 3,090 shares during the quarter. J. Safra Sarasin Holding AG’s holdings in Adobe were worth $2,351,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Decker Retirement Planning Inc. acquired a new position in Adobe in the fourth quarter valued at approximately $31,000. Summit Securities Group LLC purchased a new stake in Adobe during the fourth quarter worth $31,000. Caitlin John LLC grew its position in Adobe by 171.4% during the fourth quarter. Caitlin John LLC now owns 76 shares of the software company’s stock valued at $34,000 after buying an additional 48 shares during the period. Avion Wealth increased its holdings in Adobe by 112.2% in the fourth quarter. Avion Wealth now owns 87 shares of the software company’s stock valued at $38,000 after buying an additional 46 shares in the last quarter. Finally, Mascoma Wealth Management LLC raised its position in shares of 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 acquiring an additional 50 shares during the period. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Insider Buying and Selling at Adobe

In other Adobe news, EVP Scott Belsky sold 3,819 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $430.24, for a total transaction of $1,643,086.56. Following the completion of the sale, the executive vice president now directly owns 18,334 shares of the company’s stock, valued at $7,888,020.16. This represents a 17.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Jillian Forusz sold 334 shares of the business’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 value of $145,567.22. Following the completion of the transaction, 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 5,075 shares of company stock worth $2,191,826. 0.16% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Citigroup reduced their price target on Adobe from $551.00 to $490.00 and set a “neutral” rating for the company in a report on Monday, March 10th. Mizuho cut their price target on shares of Adobe from $620.00 to $575.00 and set an “outperform” rating for the company in a report on Thursday, March 13th. KeyCorp upgraded shares of Adobe from an “underweight” rating to a “sector weight” rating in a research report on Friday, March 21st. UBS Group reduced their target price on Adobe from $410.00 to $380.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Finally, Bank of America dropped their price target on Adobe from $605.00 to $528.00 and set a “buy” rating for the company in a research report on Thursday, March 13th. Eleven research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $513.27.

Adobe Price Performance

ADBE stock opened at $343.22 on Tuesday. The stock has a market cap of $146.28 billion, a price-to-earnings ratio of 27.68, a PEG ratio of 2.15 and a beta of 1.49. Adobe Inc. has a fifty-two week low of $332.01 and a fifty-two week high of $587.75. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29. The business has a 50 day moving average price of $401.15 and a 200 day moving average price of $448.52.

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

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.