Adobe Inc. (NASDAQ:ADBE) Shares Sold by Curated Wealth Partners LLC

Curated Wealth Partners LLC cut its stake in Adobe Inc. (NASDAQ:ADBE) by 15.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 865 shares of the software company’s stock after selling 154 shares during the quarter. Curated Wealth Partners LLC’s holdings in Adobe were worth $385,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ADBE. International Assets Investment Management LLC boosted its stake in Adobe by 66,909.7% during the third quarter. International Assets Investment Management LLC now owns 1,378,390 shares of the software company’s stock worth $713,703,000 after buying an additional 1,376,333 shares during the last quarter. FMR LLC boosted its position in shares of Adobe by 8.8% during the 3rd quarter. FMR LLC now owns 9,690,163 shares of the software company’s stock valued at $5,017,373,000 after acquiring an additional 787,356 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Adobe by 42.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,168,584 shares of the software company’s stock valued at $519,646,000 after purchasing an additional 347,536 shares during the period. Seilern Investment Management Ltd acquired a new stake in Adobe during the fourth quarter worth about $110,744,000. Finally, Erste Asset Management GmbH purchased a new position in Adobe during the third quarter worth about $126,703,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Adobe Trading Down 0.4 %

NASDAQ ADBE opened at $435.38 on Friday. Adobe Inc. has a 52 week low of $403.75 and a 52 week high of $638.25. The firm has a 50 day moving average of $469.50 and a two-hundred day moving average of $509.04. The stock has a market capitalization of $189.52 billion, a PE ratio of 35.11, a price-to-earnings-growth ratio of 2.12 and a beta of 1.31. 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 (NASDAQ:ADBE) last issued its earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share for the quarter, topping the consensus estimate of $4.67 by $0.14. The business had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.54 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The business’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the company earned $3.52 EPS. As a group, research analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ADBE. DA Davidson cut their price target on shares of Adobe from $685.00 to $625.00 and set a “buy” rating for the company in a report on Thursday, December 12th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $475.00 target price (down previously from $600.00) on shares of Adobe in a research note on Wednesday, January 8th. Oppenheimer decreased their price target on Adobe from $625.00 to $600.00 and set an “outperform” rating on the stock in a research note on Thursday, December 12th. Piper Sandler cut their price objective on Adobe from $635.00 to $600.00 and set an “overweight” rating for the company in a research report on Thursday, December 12th. Finally, StockNews.com lowered shares of Adobe from a “strong-buy” rating to a “buy” rating in a report on Monday, January 20th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $573.00.

Insider Activity

In other news, CAO Jillian Forusz sold 676 shares of the stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $484.97, for a total value of $327,839.72. Following the completion of the sale, the chief accounting officer now directly owns 2,715 shares of the company’s stock, valued at approximately $1,316,693.55. This represents a 19.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Amy Banse sold 606 shares of the company’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $550.00, for a total transaction of $333,300.00. Following the completion of the sale, the director now owns 32,929 shares of the company’s stock, valued at approximately $18,110,950. This trade represents a 1.81 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.15% of the company’s stock.

Adobe 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.