Adobe Inc. (NASDAQ:ADBE) Shares Sold by Argus Investors Counsel Inc.

Argus Investors Counsel Inc. lessened its stake in Adobe Inc. (NASDAQ:ADBE) by 0.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,735 shares of the software company’s stock after selling 25 shares during the quarter. Adobe accounts for about 1.4% of Argus Investors Counsel Inc.’s portfolio, making the stock its 25th largest holding. Argus Investors Counsel Inc.’s holdings in Adobe were worth $2,106,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Czech National Bank boosted its holdings in Adobe by 5.8% during the third quarter. Czech National Bank now owns 90,325 shares of the software company’s stock worth $46,768,000 after buying an additional 4,954 shares in the last quarter. Miracle Mile Advisors LLC boosted its stake in shares of Adobe by 10.8% during the 3rd quarter. Miracle Mile Advisors LLC now owns 1,577 shares of the software company’s stock worth $817,000 after acquiring an additional 154 shares in the last quarter. Axiom Advisory LLC grew its position in shares of Adobe by 9.3% during the 3rd quarter. Axiom Advisory LLC now owns 1,728 shares of the software company’s stock valued at $948,000 after acquiring an additional 147 shares during the period. Dynamic Advisor Solutions LLC increased its stake in shares of Adobe by 0.4% in the 3rd quarter. Dynamic Advisor Solutions LLC now owns 10,514 shares of the software company’s stock valued at $5,444,000 after purchasing an additional 42 shares in the last quarter. Finally, Country Trust Bank raised its holdings in Adobe by 8.6% in the 3rd quarter. Country Trust Bank now owns 75,194 shares of the software company’s stock worth $38,934,000 after purchasing an additional 5,949 shares during the period. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on ADBE shares. StockNews.com raised Adobe from a “buy” rating to a “strong-buy” rating in a report on Tuesday, January 28th. TD Cowen lowered shares of Adobe from a “buy” rating to a “hold” rating and cut their price target for the stock from $625.00 to $550.00 in a report on Thursday, December 12th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $475.00 price target (down from $600.00) on shares of Adobe in a research report on Wednesday, January 8th. Royal Bank of Canada reduced their price target on Adobe from $610.00 to $590.00 and set an “outperform” rating on the stock in a report on Thursday, December 12th. Finally, JMP Securities reissued a “market perform” rating on shares of Adobe in a report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Adobe has a consensus rating of “Moderate Buy” and a consensus price target of $573.00.

Insiders Place Their Bets

In related news, Director Amy Banse sold 606 shares of the stock in a transaction 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 transaction, the director now directly owns 32,929 shares of the company’s stock, valued at $18,110,950. This trade represents a 1.81 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Jillian Forusz sold 334 shares of the business’s stock in a transaction 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 directly owns 2,685 shares of the company’s stock, valued at approximately $1,170,203.55. This trade represents a 11.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,681 shares of company stock valued at $2,525,126 in the last ninety days. Insiders own 0.15% of the company’s stock.

Adobe Stock Down 0.6 %

ADBE stock opened at $437.63 on Thursday. Adobe Inc. has a fifty-two week low of $403.75 and a fifty-two week high of $628.07. The company’s 50 day moving average price is $457.14 and its 200 day moving average price is $500.93. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07. The firm has a market capitalization of $190.50 billion, a price-to-earnings ratio of 35.29, a PEG ratio of 2.12 and a beta of 1.31.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data 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 business had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.54 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The company’s revenue was up 11.1% on a year-over-year basis. During the same period last year, the business earned $3.52 EPS. On average, equities research analysts anticipate that Adobe Inc. will post 16.65 EPS for the current fiscal year.

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.