Liberty Capital Management Inc. Sells 102 Shares of Adobe Inc. (NASDAQ:ADBE)

Liberty Capital Management Inc. lowered its holdings in Adobe Inc. (NASDAQ:ADBE) by 1.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 5,469 shares of the software company’s stock after selling 102 shares during the quarter. Liberty Capital Management Inc.’s holdings in Adobe were worth $2,432,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. International Assets Investment Management LLC lifted its position in Adobe by 66,909.7% in the 3rd 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 raised its stake in shares of Adobe by 8.8% during the third quarter. FMR LLC now owns 9,690,163 shares of the software company’s stock worth $5,017,373,000 after acquiring an additional 787,356 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Adobe by 42.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,168,584 shares of the software company’s stock worth $519,646,000 after acquiring an additional 347,536 shares during the last quarter. Seilern Investment Management Ltd purchased a new stake in shares of Adobe in the 4th quarter valued at $110,744,000. Finally, Erste Asset Management GmbH bought a new position in shares of Adobe during the 3rd quarter valued at $126,703,000. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Adobe Trading Down 0.5 %

NASDAQ ADBE opened at $433.07 on Monday. The stock’s fifty day moving average price is $453.92 and its 200-day moving average price is $499.31. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29. The stock has a market cap of $188.52 billion, a P/E ratio of 34.93, a P/E/G ratio of 2.11 and a beta of 1.31. Adobe Inc. has a 12 month low of $403.75 and a 12 month high of $628.07.

Adobe (NASDAQ:ADBE) last released 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 during 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%. Adobe’s revenue was up 11.1% compared to the same quarter last year. During the same period last year, the business earned $3.52 EPS. As a group, equities analysts forecast that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Insider Activity at Adobe

In other news, EVP Scott Belsky sold 922 shares of the firm’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $437.28, for a total transaction of $403,172.16. Following the sale, the executive vice president now owns 22,153 shares of the company’s stock, valued at $9,687,063.84. This trade represents a 4.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Amy Banse sold 606 shares of the business’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 transaction, the director now directly owns 32,929 shares of the company’s stock, valued at $18,110,950. The trade was a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,681 shares of company stock valued at $2,525,126. 0.15% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on ADBE shares. Jefferies Financial Group lowered their price target on shares of Adobe from $700.00 to $650.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. TD Cowen lowered Adobe from a “buy” rating to a “hold” rating and lowered their target price for the company from $625.00 to $550.00 in a research note on Thursday, December 12th. DA Davidson reduced their price target on Adobe from $685.00 to $625.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Mizuho lowered their price objective on Adobe from $640.00 to $620.00 and set an “outperform” rating for the company in a research report on Thursday, December 12th. Finally, JMP Securities reissued a “market perform” rating on shares of Adobe 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, sixteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average 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.