SJS Investment Consulting Inc. Sells 30 Shares of Adobe Inc. (NASDAQ:ADBE)

SJS Investment Consulting Inc. lowered its stake in Adobe Inc. (NASDAQ:ADBE) by 6.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 436 shares of the software company’s stock after selling 30 shares during the period. SJS Investment Consulting Inc.’s holdings in Adobe were worth $194,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of ADBE. Linden Thomas Advisory Services LLC boosted its holdings in shares of Adobe by 8.0% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 10,672 shares of the software company’s stock valued at $4,746,000 after buying an additional 794 shares during the last quarter. Cyndeo Wealth Partners LLC raised its holdings in shares of Adobe by 6.1% in the 4th quarter. Cyndeo Wealth Partners LLC now owns 7,548 shares of the software company’s stock valued at $3,356,000 after purchasing an additional 436 shares during the period. Dynamic Advisor Solutions LLC lifted its stake in Adobe by 35.3% in the 4th quarter. Dynamic Advisor Solutions LLC now owns 14,229 shares of the software company’s stock valued at $6,328,000 after purchasing an additional 3,715 shares during the last quarter. Pflug Koory LLC grew its holdings in Adobe by 16.9% during the fourth quarter. Pflug Koory LLC now owns 463 shares of the software company’s stock worth $206,000 after purchasing an additional 67 shares during the period. Finally, Goelzer Investment Management Inc. raised its stake in Adobe by 24.1% in the fourth quarter. Goelzer Investment Management Inc. now owns 15,038 shares of the software company’s stock valued at $6,687,000 after buying an additional 2,925 shares during the period. 81.79% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Adobe

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

Adobe Stock Performance

Shares of Adobe stock opened at $435.38 on Friday. The business has a fifty day simple moving average of $468.14 and a two-hundred day simple moving average of $508.06. The firm has a market capitalization of $189.52 billion, a P/E ratio of 35.11, a P/E/G ratio of 2.12 and a beta of 1.31. 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 12 month low of $403.75 and a 12 month high of $638.25.

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

Analysts Set New Price Targets

ADBE has been the topic of a number of research analyst reports. DA Davidson dropped their price target on Adobe from $685.00 to $625.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. Royal Bank of Canada cut their price objective on shares of Adobe from $610.00 to $590.00 and set an “outperform” rating for the company in a research report on Thursday, December 12th. Piper Sandler lowered their target price on Adobe from $635.00 to $600.00 and set an “overweight” rating on the stock in a research note on Thursday, December 12th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $475.00 price objective (down from $600.00) on shares of Adobe in a report on Wednesday, January 8th. Finally, Jefferies Financial Group decreased their price target on shares of Adobe from $700.00 to $650.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.