Advisor OS LLC Has $375,000 Holdings in Adobe Inc. (NASDAQ:ADBE)

Advisor OS LLC reduced its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 40.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 843 shares of the software company’s stock after selling 563 shares during the quarter. Advisor OS LLC’s holdings in Adobe were worth $375,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of ADBE. JFG Wealth Management LLC bought a new stake in Adobe in the 4th quarter valued at $730,000. Kirtland Hills Capital Management LLC increased its holdings in Adobe by 61.8% in the 4th quarter. Kirtland Hills Capital Management LLC now owns 1,272 shares of the software company’s stock valued at $566,000 after buying an additional 486 shares during the period. ARK Investment Management LLC increased its holdings in Adobe by 219.9% in the 4th quarter. ARK Investment Management LLC now owns 483 shares of the software company’s stock valued at $215,000 after buying an additional 332 shares during the period. FFT Wealth Management LLC increased its holdings in Adobe by 5.1% in the 4th quarter. FFT Wealth Management LLC now owns 1,145 shares of the software company’s stock valued at $509,000 after buying an additional 56 shares during the period. Finally, Longbow Finance SA increased its holdings in Adobe by 5.0% in the 4th quarter. Longbow Finance SA now owns 14,170 shares of the software company’s stock valued at $6,301,000 after buying an additional 671 shares during the period. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ADBE has been the topic of several analyst reports. TD Cowen lowered shares of Adobe from a “buy” rating to a “hold” rating and lowered their price target for the company from $625.00 to $550.00 in a report on Thursday, December 12th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $475.00 price target (down previously from $600.00) on shares of Adobe in a report on Wednesday, January 8th. Barclays lowered their price target on shares of Adobe from $675.00 to $645.00 and set an “overweight” rating on the stock in a report on Thursday, December 12th. Jefferies Financial Group lowered their target price on shares of Adobe from $700.00 to $650.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Finally, UBS Group lowered their target price on shares of Adobe from $525.00 to $475.00 and set a “neutral” rating on the stock in a report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $570.88.

Adobe Stock Performance

Adobe stock opened at $437.19 on Friday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29. Adobe Inc. has a 1 year low of $403.75 and a 1 year high of $587.75. The company has a market cap of $190.31 billion, a PE ratio of 35.26, a PEG ratio of 2.15 and a beta of 1.31. The company’s 50-day moving average is $439.88 and its two-hundred day moving average is $491.88.

Adobe (NASDAQ:ADBE) last released 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 for the quarter, compared to the consensus estimate of $5.54 billion. During the same period in the prior year, the company posted $3.52 EPS. The company’s revenue was up 11.1% compared to the same quarter last year. Equities analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current year.

Insider Buying and Selling at Adobe

In related news, Director Amy Banse sold 606 shares of the 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 sale, the director now directly owns 32,929 shares in the company, valued at $18,110,950. This trade represents a 1.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Jillian Forusz sold 334 shares of the stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $435.83, for a total transaction of $145,567.22. Following the completion of the sale, the chief accounting officer now owns 2,685 shares in the company, valued at $1,170,203.55. This represents a 11.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,681 shares of company stock worth $2,525,126. Company insiders own 0.15% of the company’s stock.

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.