Adobe Inc. (NASDAQ:ADBE) Shares Sold by Court Place Advisors LLC

Court Place Advisors LLC decreased its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 5.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 5,282 shares of the software company’s stock after selling 290 shares during the quarter. Court Place Advisors LLC’s holdings in Adobe were worth $2,349,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Slow Capital Inc. increased its holdings in shares of Adobe by 9.7% during the 4th quarter. Slow Capital Inc. now owns 7,250 shares of the software company’s stock worth $3,224,000 after buying an additional 639 shares during the last quarter. Lebenthal Global Advisors LLC grew its position in Adobe by 16.4% during the fourth quarter. Lebenthal Global Advisors LLC now owns 2,334 shares of the software company’s stock valued at $1,038,000 after acquiring an additional 329 shares during the period. Baldwin Wealth Partners LLC MA increased its stake in Adobe by 6.0% during the fourth quarter. Baldwin Wealth Partners LLC MA now owns 45,627 shares of the software company’s stock worth $20,289,000 after acquiring an additional 2,578 shares during the last quarter. Foundations Investment Advisors LLC raised its holdings in shares of Adobe by 30.9% in the 4th quarter. Foundations Investment Advisors LLC now owns 36,009 shares of the software company’s stock worth $16,012,000 after purchasing an additional 8,508 shares during the period. Finally, Cornell Pochily Investment Advisors Inc. lifted its stake in shares of Adobe by 14.7% in the 4th quarter. Cornell Pochily Investment Advisors Inc. now owns 1,130 shares of the software company’s stock valued at $502,000 after purchasing an additional 145 shares in the last quarter. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Adobe Stock Performance

Adobe stock opened at $438.59 on Tuesday. The company has a market cap of $190.92 billion, a PE ratio of 35.37, a P/E/G ratio of 2.12 and a beta of 1.31. Adobe Inc. has a 12 month low of $403.75 and a 12 month high of $638.25. The company has a fifty day moving average price of $468.14 and a two-hundred day moving average price of $507.26. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07.

Adobe (NASDAQ:ADBE) last posted its quarterly 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 business had revenue of $5.61 billion during the quarter, compared to analyst estimates of $5.54 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The company’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the business posted $3.52 EPS. Research analysts expect that Adobe Inc. will post 16.65 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on ADBE shares. UBS Group dropped their target price on shares of Adobe from $525.00 to $475.00 and set a “neutral” rating for the company in a research report on Friday, January 3rd. Bank of America dropped their price objective on shares of Adobe from $640.00 to $605.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. Sanford C. Bernstein reduced their target price on shares of Adobe from $644.00 to $587.00 and set an “outperform” rating on the stock in a report on Thursday, December 12th. Stifel Nicolaus lowered their price target on Adobe from $650.00 to $600.00 and set a “buy” rating for the company in a report on Thursday, December 12th. Finally, Barclays reduced their price objective on Adobe from $675.00 to $645.00 and set an “overweight” rating on the stock in a research note on Thursday, December 12th. One research 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 stock. According to MarketBeat, Adobe currently has a consensus rating of “Moderate Buy” and an average price target of $573.00.

Insider Activity

In other news, Director Amy Banse sold 606 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $550.00, for a total transaction 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. The trade was a 1.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.15% of the company’s stock.

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.