Adobe Inc. (NASDAQ:ADBE) Holdings Decreased by National Pension Service

National Pension Service lessened its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 0.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 876,955 shares of the software company’s stock after selling 1,840 shares during the period. National Pension Service owned about 0.20% of Adobe worth $389,964,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ADBE. Legacy Investment Solutions LLC bought a new stake in shares of Adobe in the 3rd quarter valued at approximately $26,000. Groupama Asset Managment lifted its stake in Adobe by 28.8% in the third quarter. Groupama Asset Managment now owns 51,482 shares of the software company’s stock valued at $27,000 after buying an additional 11,522 shares during the period. MidAtlantic Capital Management Inc. acquired a new stake in Adobe in the third quarter worth $30,000. True Wealth Design LLC lifted its holdings in 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 acquiring an additional 34 shares in the last quarter. Finally, Decker Retirement Planning Inc. acquired a new position in shares of Adobe in the 4th quarter valued at approximately $31,000. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Stifel Nicolaus decreased their price target on shares of Adobe from $650.00 to $600.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. TD Cowen cut shares of Adobe from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $625.00 to $550.00 in a research report on Thursday, December 12th. JMP Securities restated a “market perform” rating on shares of Adobe in a research note on Thursday, December 12th. BNP Paribas upgraded Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 price objective on the stock in a research note on Wednesday, January 15th. Finally, DA Davidson cut their target price on Adobe from $685.00 to $625.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Adobe has an average rating of “Moderate Buy” and a consensus target price of $570.88.

Insiders Place Their Bets

In related news, EVP Scott Belsky sold 922 shares of the company’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $437.28, for a total value of $403,172.16. Following the completion of the sale, the executive vice president now owns 22,153 shares of the company’s stock, valued at approximately $9,687,063.84. This represents a 4.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Amy Banse sold 606 shares of the company’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $550.00, for a total value of $333,300.00. Following the completion of 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,681 shares of company stock worth $2,525,126. Company insiders own 0.15% of the company’s stock.

Adobe Price Performance

NASDAQ ADBE opened at $443.41 on Wednesday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $193.02 billion, a P/E ratio of 35.76, a P/E/G ratio of 2.15 and a beta of 1.31. Adobe Inc. has a 12-month low of $403.75 and a 12-month high of $587.75. The firm’s fifty day simple moving average is $439.88 and its two-hundred day simple moving average is $492.62.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, topping analysts’ consensus estimates of $4.67 by $0.14. The company had revenue of $5.61 billion during 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%. The firm’s revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.52 EPS. 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.