Lynch & Associates IN Sells 416 Shares of Adobe Inc. (NASDAQ:ADBE)

Lynch & Associates IN reduced its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 21.9% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,485 shares of the software company’s stock after selling 416 shares during the period. Lynch & Associates IN’s holdings in Adobe were worth $660,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. HBW Advisory Services LLC increased its position in shares of Adobe by 3.3% during the fourth quarter. HBW Advisory Services LLC now owns 920 shares of the software company’s stock valued at $409,000 after acquiring an additional 29 shares during the last quarter. Jacobs & Co. CA lifted its stake in shares of Adobe by 2.7% during the 4th quarter. Jacobs & Co. CA now owns 37,090 shares of the software company’s stock valued at $16,493,000 after buying an additional 973 shares in the last quarter. Sage Capital Advisors llc boosted its stake in Adobe by 1.0% in the 4th quarter. Sage Capital Advisors llc now owns 5,865 shares of the software company’s stock worth $2,608,000 after purchasing an additional 57 shares during the period. Harbor Capital Advisors Inc. boosted its holdings in shares of Adobe by 3.1% in the 4th quarter. Harbor Capital Advisors Inc. now owns 5,835 shares of the software company’s stock worth $2,595,000 after purchasing an additional 173 shares in the last quarter. Finally, CCM Investment Advisers LLC lifted its holdings in shares of Adobe by 8.4% in the 4th quarter. CCM Investment Advisers LLC now owns 30,405 shares of the software company’s stock worth $13,521,000 after acquiring an additional 2,359 shares during the last quarter. 81.79% of the stock is owned by hedge funds and other institutional investors.

Adobe Price Performance

Shares of ADBE stock traded down $13.66 during trading hours on Friday, hitting $405.92. The stock had a trading volume of 5,546,182 shares, compared to its average volume of 4,224,891. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.11 and a quick ratio of 1.11. The stock has a market capitalization of $178.69 billion, a price-to-earnings ratio of 32.74, a PEG ratio of 2.51 and a beta of 1.31. Adobe Inc. has a one year low of $405.32 and a one year high of $638.25. The stock’s 50-day moving average price is $485.54 and its two-hundred day moving average price is $517.97.

Adobe (NASDAQ:ADBE) last released its earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.67 by $0.14. The firm had revenue of $5.61 billion during the quarter, compared to analyst estimates of $5.54 billion. Adobe had a net margin of 25.85% and a return on equity of 45.22%. The business’s revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the business earned $3.52 EPS. Equities analysts forecast that Adobe Inc. will post 16.73 EPS for the current year.

Analyst Upgrades and Downgrades

ADBE has been the subject of a number of analyst reports. DA Davidson dropped their price objective on Adobe from $685.00 to $625.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. JMP Securities restated a “market perform” rating on shares of Adobe in a report on Thursday, December 12th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $475.00 price objective (down from $600.00) on shares of Adobe in a report on Wednesday. TD Cowen downgraded Adobe from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $625.00 to $550.00 in a report on Thursday, December 12th. Finally, BMO Capital Markets cut their price target on Adobe from $600.00 to $570.00 and set an “outperform” rating on the stock in a research note on Thursday, December 12th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $575.85.

Insider Activity

In other news, Director Amy Banse sold 606 shares of the firm’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $550.00, for a total transaction of $333,300.00. Following the sale, the director now directly owns 32,929 shares in the company, valued at $18,110,950. This trade represents a 1.81 % 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, EVP Scott Belsky sold 481 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $483.42, for a total value of $232,525.02. Following the completion of the sale, the executive vice president now directly owns 18,128 shares in the company, valued at approximately $8,763,437.76. The trade was a 2.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,293 shares of company stock valued at $1,679,809. Corporate insiders own 0.15% of the company’s stock.

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.