Y Intercept Hong Kong Ltd Cuts Stock Position in Adobe Inc. (NASDAQ:ADBE)

Y Intercept Hong Kong Ltd lessened its position in Adobe Inc. (NASDAQ:ADBE) by 22.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,484 shares of the software company’s stock after selling 2,671 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Adobe were worth $4,217,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of ADBE. FMR LLC grew its stake in Adobe by 8.8% during the 3rd 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 in the last quarter. Assenagon Asset Management S.A. grew its stake in Adobe by 42.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,168,584 shares of the software company’s stock worth $519,646,000 after purchasing an additional 347,536 shares in the last quarter. Seilern Investment Management Ltd acquired a new position in Adobe during the 4th quarter worth $110,744,000. Erste Asset Management GmbH acquired a new position in Adobe during the 3rd quarter worth $126,703,000. Finally, State Street Corp grew its stake 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 purchasing an additional 234,909 shares in the last quarter. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Insider Transactions at Adobe

In related news, CAO Jillian Forusz sold 334 shares of the business’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $435.83, for a total value of $145,567.22. Following the sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Scott Belsky sold 3,819 shares of the business’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $430.24, for a total transaction of $1,643,086.56. Following the completion of the sale, the executive vice president now owns 18,334 shares in the company, valued at $7,888,020.16. This represents a 17.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,681 shares of company stock valued at $2,525,126 in the last ninety days. 0.15% of the stock is currently owned by company insiders.

Adobe Stock Performance

Shares of ADBE opened at $444.32 on Monday. 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 Inc. has a 1 year low of $403.75 and a 1 year high of $587.75. The stock has a market capitalization of $193.41 billion, a P/E ratio of 35.83, a P/E/G ratio of 2.20 and a beta of 1.31. The company’s fifty day moving average is $440.46 and its two-hundred day moving average is $493.88.

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

Analyst Ratings Changes

Several research analysts recently commented on the company. Sanford C. Bernstein lowered their target price on Adobe from $644.00 to $587.00 and set an “outperform” rating for the company in a research note on Thursday, December 12th. Citigroup lowered their price objective on Adobe from $616.00 to $590.00 and set a “neutral” rating for the company in a research report on Monday, December 9th. 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 report on Thursday, December 12th. StockNews.com cut Adobe from a “strong-buy” rating to a “buy” rating in a research report on Thursday. Finally, BMO Capital Markets lowered their price objective on Adobe from $570.00 to $515.00 and set an “outperform” rating for the company in a research report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $570.88.

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.