Copperwynd Financial LLC Sells 374 Shares of Adobe Inc. (NASDAQ:ADBE)

Copperwynd Financial LLC lowered its stake in Adobe Inc. (NASDAQ:ADBE) by 12.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,612 shares of the software company’s stock after selling 374 shares during the quarter. Copperwynd Financial LLC’s holdings in Adobe were worth $1,161,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Legacy Investment Solutions LLC bought a new stake in Adobe during the third quarter valued at $26,000. MidAtlantic Capital Management Inc. purchased a new stake in shares of Adobe in the 3rd quarter valued at about $30,000. True Wealth Design LLC grew its holdings in shares of Adobe by 141.7% during the third quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock worth $30,000 after purchasing an additional 34 shares in the last quarter. Briaud Financial Planning Inc bought a new position in shares of Adobe in the third quarter worth approximately $36,000. Finally, Decker Retirement Planning Inc. purchased a new stake in Adobe in the fourth quarter valued at approximately $31,000. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Adobe Stock Up 4.5 %

Shares of Adobe stock opened at $394.74 on Friday. 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 12-month low of $374.50 and a 12-month high of $587.75. The company has a market cap of $171.87 billion, a P/E ratio of 31.83, a PEG ratio of 2.15 and a beta of 1.37. The company’s fifty day simple moving average is $437.03 and its two-hundred day simple moving average is $482.65.

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

Insider Activity

In other news, Director David A. Ricks acquired 2,250 shares of the firm’s stock in a transaction on Tuesday, January 28th. The stock was acquired at an average price of $443.98 per share, for a total transaction of $998,955.00. Following the completion of the acquisition, the director now owns 4,984 shares in the company, valued at $2,212,796.32. This trade represents a 82.30 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Jillian Forusz sold 334 shares of the business’s stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $435.83, for a total transaction of $145,567.22. Following the sale, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 5,075 shares of company stock worth $2,191,826 in the last quarter. 0.16% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. DA Davidson decreased their price target on shares of Adobe from $685.00 to $625.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Redburn Atlantic started coverage on Adobe in a research note on Wednesday, February 19th. They issued a “neutral” rating on the stock. JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a research note on Thursday, December 12th. Oppenheimer decreased their price objective on Adobe from $560.00 to $530.00 and set an “outperform” rating on the stock in a report on Thursday. Finally, Robert W. Baird cut their target price on Adobe from $500.00 to $490.00 and set a “neutral” rating for the company in a research note on Thursday. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $539.46.

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.