Revolve Wealth Partners LLC Trims Stock Position in Adobe Inc. (NASDAQ:ADBE)

Revolve Wealth Partners LLC decreased its position in shares of Adobe Inc. (NASDAQ:ADBE) by 2.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,305 shares of the software company’s stock after selling 37 shares during the quarter. Revolve Wealth Partners LLC’s holdings in Adobe were worth $580,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of ADBE. Bay Rivers Group grew its position in Adobe by 30.7% during the fourth quarter. Bay Rivers Group now owns 813 shares of the software company’s stock worth $362,000 after buying an additional 191 shares during the period. Slow Capital Inc. boosted its position in Adobe by 9.7% during the fourth quarter. Slow Capital Inc. now owns 7,250 shares of the software company’s stock worth $3,224,000 after purchasing an additional 639 shares in the last quarter. Lebenthal Global Advisors LLC grew its holdings in Adobe by 16.4% in the fourth quarter. Lebenthal Global Advisors LLC now owns 2,334 shares of the software company’s stock valued at $1,038,000 after purchasing an additional 329 shares during the last quarter. Baldwin Wealth Partners LLC MA increased its position in shares of Adobe by 6.0% in the fourth quarter. Baldwin Wealth Partners LLC MA now owns 45,627 shares of the software company’s stock valued at $20,289,000 after buying an additional 2,578 shares in the last quarter. Finally, Foundations Investment Advisors LLC raised its stake in shares of Adobe by 30.9% during the 4th quarter. Foundations Investment Advisors LLC now owns 36,009 shares of the software company’s stock worth $16,012,000 after buying an additional 8,508 shares during the last quarter. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ADBE has been the topic of a number of research reports. Citigroup lowered their price objective on shares of Adobe from $616.00 to $590.00 and set a “neutral” rating on the stock in a research note on Monday, December 9th. Wells Fargo & Company lowered their price target on shares of Adobe from $700.00 to $640.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. JMP Securities reissued a “market perform” rating on shares of Adobe in a research note on Thursday, December 12th. Jefferies Financial Group decreased their target price on shares of Adobe from $700.00 to $650.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Finally, BNP Paribas upgraded Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 price target for the company in a research note on Wednesday, January 15th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $573.00.

Adobe Price Performance

NASDAQ ADBE opened at $438.59 on Tuesday. Adobe Inc. has a 12 month low of $403.75 and a 12 month high of $638.25. The firm has a market capitalization of $190.92 billion, a PE ratio of 35.37, a P/E/G ratio of 2.12 and a beta of 1.31. The company’s 50 day simple moving average is $468.14 and its 200 day simple moving average is $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 issued its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.67 by $0.14. The company had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.54 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period last year, the firm earned $3.52 EPS. As a group, equities research analysts forecast that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Amy Banse sold 606 shares of the firm’s stock in a transaction that occurred 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 directly owns 32,929 shares in the company, valued at approximately $18,110,950. This trade represents a 1.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.15% of the stock is owned by company insiders.

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.