Adobe Inc. (NASDAQ:ADBE) Shares Sold by Sharkey Howes & Javer

Sharkey Howes & Javer lowered its stake in Adobe Inc. (NASDAQ:ADBE) by 16.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 759 shares of the software company’s stock after selling 154 shares during the quarter. Sharkey Howes & Javer’s holdings in Adobe were worth $338,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of ADBE. Swedbank AB grew its stake in Adobe by 0.3% during the 3rd quarter. Swedbank AB now owns 1,196,175 shares of the software company’s stock valued at $619,355,000 after purchasing an additional 3,739 shares in the last quarter. EMC Capital Management grew its stake in Adobe by 289.3% during the 3rd quarter. EMC Capital Management now owns 1,168 shares of the software company’s stock valued at $605,000 after purchasing an additional 868 shares in the last quarter. Dash Acquisitions Inc. grew its stake in Adobe by 7.2% during the 3rd quarter. Dash Acquisitions Inc. now owns 25,085 shares of the software company’s stock valued at $12,134,000 after purchasing an additional 1,688 shares in the last quarter. Farther Finance Advisors LLC grew its stake in Adobe by 5.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 8,629 shares of the software company’s stock valued at $4,467,000 after purchasing an additional 468 shares in the last quarter. Finally, Chicago Partners Investment Group LLC grew its stake in Adobe by 3.3% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 2,902 shares of the software company’s stock valued at $1,408,000 after purchasing an additional 93 shares in the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Insider Buying and Selling at Adobe

In other news, Director Amy Banse sold 606 shares of Adobe stock in a transaction on Friday, December 6th. The stock was sold at an average price of $550.00, for a total transaction of $333,300.00. Following the transaction, the director now directly owns 32,929 shares in the company, valued at approximately $18,110,950. This trade represents a 1.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Jillian Forusz sold 334 shares of Adobe stock in a transaction 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 transaction, 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 disclosure for this sale can be found here. Insiders have sold 5,681 shares of company stock valued at $2,525,126 in the last quarter. Corporate insiders own 0.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. JMP Securities restated a “market perform” rating on shares of Adobe in a research note on Thursday, December 12th. Royal Bank of Canada restated an “outperform” rating and set a $590.00 price objective on shares of Adobe in a research note on Thursday, February 13th. BNP Paribas raised Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 target price on the stock in a report on Wednesday, January 15th. Jefferies Financial Group reduced their target price on Adobe from $700.00 to $650.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Finally, Sanford C. Bernstein reduced their target price on Adobe from $644.00 to $587.00 and set an “outperform” rating on the stock in a report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $570.88.

Adobe Stock Up 0.3 %

Shares of Adobe stock opened at $438.49 on Friday. The business’s fifty day moving average price is $439.71 and its two-hundred day moving average price is $490.93. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. The company has a market capitalization of $190.87 billion, a P/E ratio of 35.36, a PEG ratio of 2.15 and a beta of 1.31. Adobe Inc. has a 1-year low of $403.75 and a 1-year high of $587.75.

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

Adobe 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.