Adobe Inc. (NASDAQ:ADBE) Shares Sold by West Family Investments Inc.

West Family Investments Inc. trimmed its holdings in Adobe Inc. (NASDAQ:ADBE) by 20.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 1,020 shares of the software company’s stock after selling 255 shares during the period. West Family Investments Inc.’s holdings in Adobe were worth $454,000 at the end of the most recent reporting period.

A number of other large 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 about $26,000. Groupama Asset Managment boosted its stake in shares of Adobe by 28.8% during the 3rd quarter. Groupama Asset Managment now owns 51,482 shares of the software company’s stock worth $27,000 after purchasing an additional 11,522 shares during the last quarter. MidAtlantic Capital Management Inc. acquired a new stake in shares of Adobe during the 3rd quarter worth about $30,000. True Wealth Design LLC boosted its stake in shares of Adobe by 141.7% during the 3rd quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock worth $30,000 after purchasing an additional 34 shares during the last quarter. Finally, Decker Retirement Planning Inc. acquired a new stake in shares of Adobe during the 4th quarter worth about $31,000. 81.79% of the stock is owned by institutional investors and hedge funds.

Adobe Trading Down 1.4 %

Shares of ADBE stock opened at $444.78 on Friday. The stock has a market cap of $193.61 billion, a price-to-earnings ratio of 35.87, a price-to-earnings-growth ratio of 2.15 and a beta of 1.37. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29. Adobe Inc. has a fifty-two week low of $403.75 and a fifty-two week high of $587.75. The firm’s 50 day moving average price is $439.51 and its two-hundred day moving average price is $488.46.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share for the quarter, beating analysts’ consensus estimates of $4.67 by $0.14. The firm had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.54 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. Adobe’s revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the company posted $3.52 earnings per share. On average, analysts anticipate that Adobe Inc. will post 16.65 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have issued reports on ADBE. BMO Capital Markets decreased their price target on shares of Adobe from $570.00 to $515.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $475.00 price target (down from $600.00) on shares of Adobe in a research note on Wednesday, January 8th. StockNews.com cut shares of Adobe from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Mizuho decreased their price target on shares of Adobe from $640.00 to $620.00 and set an “outperform” rating on the stock in a research note on Thursday, December 12th. Finally, TD Cowen cut shares of Adobe from a “buy” rating to a “hold” rating and decreased their price target for the stock from $625.00 to $550.00 in a research note on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Adobe has a consensus rating of “Moderate Buy” and an average target price of $570.88.

Insider Transactions at Adobe

In other news, Director David A. Ricks bought 2,250 shares of Adobe stock in a transaction dated Tuesday, January 28th. The shares were acquired at an average cost of $443.98 per share, with a total value of $998,955.00. Following the completion of the transaction, the director now owns 4,984 shares in the company, valued at approximately $2,212,796.32. This trade represents a 82.30 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Jillian Forusz sold 334 shares of the business’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total transaction of $145,567.22. Following the transaction, the chief accounting officer now directly owns 2,685 shares in the company, valued at approximately $1,170,203.55. The trade was a 11.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,075 shares of company stock valued at $2,191,826. 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.