SNS Financial Group LLC Has $217,000 Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

SNS Financial Group LLC reduced its position in shares of Adobe Inc. (NASDAQ:ADBE) by 13.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 488 shares of the software company’s stock after selling 73 shares during the period. SNS Financial Group LLC’s holdings in Adobe were worth $217,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ADBE. Private Wealth Partners LLC raised its stake in Adobe by 12.0% during the fourth quarter. Private Wealth Partners LLC now owns 50,449 shares of the software company’s stock worth $22,434,000 after acquiring an additional 5,393 shares in the last quarter. Private Advisor Group LLC grew its holdings in shares of Adobe by 4.4% during the 4th quarter. Private Advisor Group LLC now owns 25,475 shares of the software company’s stock valued at $11,328,000 after purchasing an additional 1,082 shares during the last quarter. Fagan Associates Inc. increased its position in Adobe by 0.6% during the 4th quarter. Fagan Associates Inc. now owns 7,202 shares of the software company’s stock worth $3,203,000 after purchasing an additional 40 shares in the last quarter. Alberta Investment Management Corp lifted its stake in Adobe by 820.4% in the 4th quarter. Alberta Investment Management Corp now owns 89,285 shares of the software company’s stock valued at $39,703,000 after purchasing an additional 79,584 shares during the last quarter. Finally, Vista Capital Partners Inc. lifted its stake in Adobe by 21.1% in the 4th quarter. Vista Capital Partners Inc. now owns 574 shares of the software company’s stock valued at $255,000 after purchasing an additional 100 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors.

Adobe Trading Down 0.5 %

NASDAQ ADBE opened at $454.69 on Friday. The stock has a market capitalization of $197.93 billion, a P/E ratio of 36.67, a P/E/G ratio of 2.25 and a beta of 1.31. The business has a 50 day simple moving average of $440.89 and a 200 day simple moving average of $494.61. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. Adobe Inc. has a one year low of $403.75 and a one year high of $587.75.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, topping the consensus estimate of $4.67 by $0.14. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The company had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.54 billion. During the same quarter last year, the firm posted $3.52 EPS. The company’s quarterly revenue was up 11.1% on a year-over-year basis. Research analysts expect that Adobe Inc. will post 16.65 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Wells Fargo & Company decreased their target price on shares of Adobe from $700.00 to $640.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Citigroup reduced their price objective on Adobe from $616.00 to $590.00 and set a “neutral” rating on the stock in a research report on Monday, December 9th. Barclays dropped their target price on Adobe from $675.00 to $645.00 and set an “overweight” rating for the company in a research report on Thursday, December 12th. Mizuho reduced their price target on Adobe from $640.00 to $620.00 and set an “outperform” rating on the stock in a report on Thursday, December 12th. Finally, Stifel Nicolaus lowered their price objective on Adobe from $650.00 to $600.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $570.88.

Insider Buying and Selling at Adobe

In other Adobe news, EVP Scott Belsky sold 922 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 22,153 shares of the company’s stock, valued at approximately $9,687,063.84. This trade represents a 4.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Jillian Forusz sold 334 shares of the company’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 transaction, the chief accounting officer now directly owns 2,685 shares in the company, valued at $1,170,203.55. The trade was a 11.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,681 shares of company stock valued at $2,525,126. Corporate insiders own 0.15% of the company’s stock.

Adobe Company 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.