Adobe Inc. (NASDAQ:ADBE) Shares Sold by Union Savings Bank

Union Savings Bank decreased its position in shares of Adobe Inc. (NASDAQ:ADBE) by 3.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 928 shares of the software company’s stock after selling 30 shares during the quarter. Union Savings Bank’s holdings in Adobe were worth $413,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Piscataqua Savings Bank boosted its stake in Adobe by 226.7% during the 3rd quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock valued at $25,000 after purchasing an additional 34 shares during the period. Legacy Investment Solutions LLC bought a new stake in shares of Adobe during the third quarter valued at approximately $26,000. Groupama Asset Managment boosted 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 worth $27,000 after buying an additional 11,522 shares during the period. MidAtlantic Capital Management Inc. bought a new position in Adobe in the 3rd quarter worth approximately $30,000. Finally, True Wealth Design LLC increased its position 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 acquiring an additional 34 shares during the period. Institutional investors own 81.79% of the company’s stock.

Adobe Price Performance

NASDAQ ADBE opened at $429.99 on Monday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.11. The firm has a market capitalization of $189.28 billion, a price-to-earnings ratio of 34.68, a price-to-earnings-growth ratio of 1.97 and a beta of 1.31. The company has a 50 day simple moving average of $476.55 and a 200-day simple moving average of $512.44. Adobe Inc. has a 52-week low of $403.75 and a 52-week high of $638.25.

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, beating 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 company had revenue of $5.61 billion during the quarter, compared to analyst estimates of $5.54 billion. During the same quarter last year, the business posted $3.52 EPS. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. Equities research analysts predict that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Insider Buying and Selling at Adobe

In other Adobe news, Director Amy Banse sold 606 shares of Adobe stock in a transaction that occurred 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 sale, the director now directly owns 32,929 shares in the company, valued at $18,110,950. The trade was a 1.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Scott Belsky sold 481 shares of the business’s stock in a transaction that occurred 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 directly owns 18,128 shares of the company’s stock, valued at $8,763,437.76. This represents a 2.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,763 shares of company stock worth $893,665 over the last 90 days. 0.15% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

ADBE has been the subject of several recent analyst reports. BMO Capital Markets decreased their price target on Adobe from $600.00 to $570.00 and set an “outperform” rating for the company in a research note on Thursday, December 12th. TD Cowen lowered shares of Adobe from a “buy” rating to a “hold” rating and decreased their target price for the company from $625.00 to $550.00 in a research report on Thursday, December 12th. UBS Group dropped their price target on shares of Adobe from $525.00 to $475.00 and set a “neutral” rating on the stock in a research report on Friday, January 3rd. Royal Bank of Canada lowered their price objective on shares of Adobe from $610.00 to $590.00 and set an “outperform” rating on the stock in a research note on Thursday, December 12th. Finally, Mizuho decreased their price target on Adobe from $640.00 to $620.00 and set an “outperform” rating for the company in a research note on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $573.00.

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.