Rhumbline Advisers Has $381.69 Million Holdings in Adobe Inc. (NASDAQ:ADBE)

Rhumbline Advisers lessened its holdings in Adobe Inc. (NASDAQ:ADBE) by 1.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 858,343 shares of the software company’s stock after selling 14,864 shares during the period. Rhumbline Advisers owned about 0.20% of Adobe worth $381,688,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. State Street Corp grew its position in Adobe by 1.2% during the 3rd quarter. State Street Corp now owns 20,270,287 shares of the software company’s stock worth $10,495,544,000 after acquiring an additional 234,909 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Adobe by 1.4% during the third quarter. Geode Capital Management LLC now owns 10,529,089 shares of the software company’s stock valued at $5,435,377,000 after purchasing an additional 147,981 shares in the last quarter. FMR LLC grew its holdings in shares of Adobe by 8.8% during the third quarter. FMR LLC now owns 9,690,163 shares of the software company’s stock worth $5,017,373,000 after purchasing an additional 787,356 shares during the last quarter. Fisher Asset Management LLC increased its stake in shares of Adobe by 2.0% in the third quarter. Fisher Asset Management LLC now owns 4,859,584 shares of the software company’s stock valued at $2,516,196,000 after buying an additional 93,143 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Adobe by 3.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,741,549 shares of the software company’s stock valued at $2,455,079,000 after buying an additional 140,390 shares during the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Insider Activity

In related news, CAO Jillian Forusz sold 334 shares of Adobe stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total transaction of $145,567.22. Following the transaction, the chief accounting officer now owns 2,685 shares of the company’s stock, valued at $1,170,203.55. The trade was a 11.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Scott Belsky sold 922 shares of the company’s stock in a transaction 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 sale, the executive vice president now owns 22,153 shares of the company’s stock, valued at $9,687,063.84. This trade represents a 4.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,681 shares of company stock worth $2,525,126 over the last three months. 0.15% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

ADBE has been the topic of a number of research reports. Jefferies Financial Group reduced their target price on shares of Adobe from $700.00 to $650.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. JMP Securities reissued a “market perform” rating on shares of Adobe in a research note on Thursday, December 12th. Stifel Nicolaus lowered their target price on Adobe from $650.00 to $600.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. Sanford C. Bernstein reduced their price target on Adobe from $644.00 to $587.00 and set an “outperform” rating on the stock in a research report on Thursday, December 12th. Finally, Piper Sandler lowered their price objective on Adobe from $635.00 to $600.00 and set an “overweight” rating for the company in a research report on Thursday, December 12th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Adobe currently has an average rating of “Moderate Buy” and an average target price of $573.00.

Adobe Stock Up 0.2 %

Shares of NASDAQ:ADBE opened at $460.16 on Friday. The firm has a market cap of $200.31 billion, a P/E ratio of 37.11, a PEG ratio of 2.11 and a beta of 1.31. Adobe Inc. has a 52-week low of $403.75 and a 52-week high of $607.32. The business’s 50 day simple moving average is $448.41 and its two-hundred day simple moving average is $497.41. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07.

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

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.