Adobe Inc. (NASDAQ:ADBE) Shares Sold by First Financial Corp IN

First Financial Corp IN decreased its holdings in shares of Adobe Inc. (NASDAQ:ADBEFree Report) by 11.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 217 shares of the software company’s stock after selling 28 shares during the quarter. First Financial Corp IN’s holdings in Adobe were worth $96,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ADBE. Piscataqua Savings Bank increased its position in shares of Adobe by 226.7% during the 3rd quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock worth $25,000 after purchasing an additional 34 shares during the last quarter. Legacy Investment Solutions LLC purchased a new position in Adobe during the third quarter worth about $26,000. Groupama Asset Managment increased its position in shares of Adobe by 28.8% during the third quarter. Groupama Asset Managment now owns 51,482 shares of the software company’s stock valued at $27,000 after acquiring an additional 11,522 shares during the last quarter. MidAtlantic Capital Management Inc. purchased a new stake in shares of Adobe in the 3rd quarter valued at approximately $30,000. Finally, True Wealth Design LLC lifted its holdings in shares of Adobe by 141.7% in the 3rd quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock worth $30,000 after acquiring an additional 34 shares during the last quarter. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Citigroup cut their target price on Adobe from $616.00 to $590.00 and set a “neutral” rating on the stock in a research report on Monday, December 9th. Royal Bank of Canada decreased their target price on Adobe from $610.00 to $590.00 and set an “outperform” rating on the stock in a research note on Thursday, December 12th. Barclays dropped their target price on Adobe from $675.00 to $645.00 and set an “overweight” rating for the company in a research report on Thursday, December 12th. DA Davidson reduced their price target on shares of Adobe from $685.00 to $625.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Finally, Jefferies Financial Group cut their target price on shares of Adobe from $700.00 to $650.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. Two 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 data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $575.85.

Get Our Latest Stock Analysis on Adobe

Insider Buying and Selling at Adobe

In other Adobe news, Director Amy Banse sold 606 shares of the business’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 transaction, the director now directly owns 32,929 shares of the company’s stock, valued at approximately $18,110,950. The trade was a 1.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Scott Belsky sold 481 shares of the firm’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $483.42, for a total transaction of $232,525.02. Following the completion of the sale, the executive vice president now owns 18,128 shares of the company’s stock, valued at $8,763,437.76. This trade represents a 2.58 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,763 shares of company stock worth $893,665. 0.15% of the stock is owned by company insiders.

Adobe Trading Up 0.6 %

NASDAQ:ADBE opened at $408.50 on Tuesday. The company has a market capitalization of $179.82 billion, a PE ratio of 32.94, a P/E/G ratio of 2.51 and a beta of 1.31. Adobe Inc. has a 52-week low of $403.75 and a 52-week high of $638.25. The stock’s 50 day moving average price is $482.55 and its 200 day moving average price is $516.02. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.28.

Adobe (NASDAQ:ADBEGet Free Report) last announced 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. Adobe had a net margin of 25.85% and a return on equity of 45.22%. The business had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.54 billion. During the same period last year, the firm posted $3.52 earnings per share. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. On average, research analysts anticipate that Adobe Inc. will post 16.73 EPS for the current year.

About Adobe

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Adobe (NASDAQ:ADBE)

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