Sage Rhino Capital LLC Has $225,000 Stock Position in Adobe Inc. (NASDAQ:ADBE)

Sage Rhino Capital LLC lowered its holdings in Adobe Inc. (NASDAQ:ADBE) by 6.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 505 shares of the software company’s stock after selling 37 shares during the period. Sage Rhino Capital LLC’s holdings in Adobe were worth $225,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ADBE. Legacy Investment Solutions LLC acquired a new stake in Adobe in the 3rd quarter valued at approximately $26,000. Groupama Asset Managment grew its holdings in Adobe by 28.8% in the 3rd 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 last quarter. MidAtlantic Capital Management Inc. acquired a new stake in Adobe in the 3rd quarter valued at approximately $30,000. True Wealth Design LLC grew its holdings in Adobe by 141.7% in the 3rd quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock valued at $30,000 after buying an additional 34 shares during the last quarter. Finally, Decker Retirement Planning Inc. acquired a new stake in Adobe in the 4th quarter valued at approximately $31,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Insider Activity at Adobe

In related news, Director Amy Banse sold 606 shares of the company’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $550.00, for a total value of $333,300.00. Following the completion of the sale, the director now owns 32,929 shares in the company, valued at approximately $18,110,950. This represents a 1.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Scott Belsky sold 3,819 shares of the stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $430.24, for a total value of $1,643,086.56. Following the completion of the sale, the executive vice president now owns 18,334 shares of the company’s stock, valued at $7,888,020.16. This trade represents a 17.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,681 shares of company stock worth $2,525,126. 0.15% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on ADBE shares. Citigroup decreased their price objective on Adobe from $616.00 to $590.00 and set a “neutral” rating on the stock in a report on Monday, December 9th. TD Cowen lowered 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. Jefferies Financial Group decreased their price objective on Adobe from $700.00 to $650.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Wells Fargo & Company decreased their price objective on Adobe from $700.00 to $640.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Finally, JMP Securities reissued a “market perform” rating on shares of Adobe in a report on Thursday, December 12th. One investment 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 stock. According to data from MarketBeat.com, Adobe presently has an average rating of “Moderate Buy” and an average target price of $570.88.

Adobe Stock Up 0.5 %

NASDAQ ADBE opened at $440.72 on Tuesday. The stock has a fifty day moving average of $439.59 and a 200-day moving average of $489.79. The stock has a market capitalization of $191.85 billion, a P/E ratio of 35.54, a price-to-earnings-growth ratio of 2.15 and a beta of 1.31. Adobe Inc. has a 52 week low of $403.75 and a 52 week high of $587.75. 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 released its earnings results on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, beating the consensus estimate 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 business’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period last year, the firm earned $3.52 EPS. On average, equities research analysts forecast that Adobe Inc. will post 16.65 EPS for the current year.

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.