Sapient Capital LLC Reduces Stock Position in Adobe Inc. (NASDAQ:ADBE)

Sapient Capital LLC trimmed its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 0.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 57,993 shares of the software company’s stock after selling 184 shares during the quarter. Sapient Capital LLC’s holdings in Adobe were worth $25,788,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in ADBE. Legacy Investment Solutions LLC purchased a new stake in Adobe during the third quarter valued at approximately $26,000. Piscataqua Savings Bank raised its holdings in Adobe by 226.7% during the 3rd quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock valued at $25,000 after buying an additional 34 shares during the period. MidAtlantic Capital Management Inc. purchased a new stake in Adobe during the 3rd quarter valued at $30,000. True Wealth Design LLC lifted its position in Adobe by 141.7% in the third quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock worth $30,000 after buying an additional 34 shares during the last quarter. Finally, Briaud Financial Planning Inc purchased a new position in Adobe during the third quarter worth $36,000. Institutional investors own 81.79% of the company’s stock.

Analysts Set New Price Targets

ADBE has been the topic of several recent analyst reports. Bank of America reduced their target price on shares of Adobe from $640.00 to $605.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. Stifel Nicolaus decreased their price objective on shares of Adobe from $650.00 to $600.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. TD Cowen cut Adobe from a “buy” rating to a “hold” rating and cut their target price for the company from $625.00 to $550.00 in a research note on Thursday, December 12th. Royal Bank of Canada decreased their price target on Adobe from $610.00 to $590.00 and set an “outperform” rating for the company in a research note on Thursday, December 12th. Finally, UBS Group dropped their price objective on Adobe from $525.00 to $475.00 and set a “neutral” rating for the company in a report on Friday, January 3rd. One analyst has rated the stock with a sell rating, ten have given a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $573.00.

Insider Activity

In other news, Director Amy Banse sold 606 shares of the company’s stock in a transaction dated 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 owns 32,929 shares in the company, valued at $18,110,950. This represents a 1.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Jillian Forusz sold 334 shares of Adobe stock in a transaction that occurred on Tuesday, January 28th. The stock was 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 owns 2,685 shares of the company’s stock, valued at $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. In the last quarter, insiders sold 5,681 shares of company stock worth $2,525,126. Insiders own 0.15% of the company’s stock.

Adobe Stock Performance

Shares of Adobe stock opened at $451.10 on Tuesday. The company has a market capitalization of $196.36 billion, a PE ratio of 36.38, a P/E/G ratio of 2.11 and a beta of 1.31. The company has a 50-day simple moving average of $453.92 and a two-hundred day simple moving average of $499.09. Adobe Inc. has a one year low of $403.75 and a one year high of $626.34. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07.

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. The firm 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% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.52 EPS. Research analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

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.