First Bank & Trust Sells 681 Shares of Adobe Inc. (NASDAQ:ADBE)

First Bank & Trust lessened its holdings in Adobe Inc. (NASDAQ:ADBE) by 17.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,252 shares of the software company’s stock after selling 681 shares during the period. First Bank & Trust’s holdings in Adobe were worth $1,446,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Legacy Investment Solutions LLC acquired a new stake in shares of Adobe in the 3rd quarter worth about $26,000. Groupama Asset Managment raised its holdings in shares of Adobe by 28.8% in the 3rd quarter. Groupama Asset Managment now owns 51,482 shares of the software company’s stock worth $27,000 after acquiring an additional 11,522 shares during the last quarter. MidAtlantic Capital Management Inc. acquired a new stake in shares of Adobe in the 3rd quarter worth about $30,000. True Wealth Design LLC raised its holdings in shares of Adobe by 141.7% in the 3rd quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock worth $30,000 after acquiring an additional 34 shares during the last quarter. Finally, Decker Retirement Planning Inc. acquired a new stake in shares of Adobe in the 4th quarter worth about $31,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Insider Buying and Selling at Adobe

In other news, EVP Scott Belsky sold 3,819 shares of Adobe stock in a transaction on Monday, January 27th. The shares were sold at an average price of $430.24, for a total transaction of $1,643,086.56. Following the completion of the sale, the executive vice president now directly owns 18,334 shares of the company’s stock, valued at approximately $7,888,020.16. The trade was a 17.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Amy Banse sold 606 shares of Adobe stock in a transaction on Friday, December 6th. The stock was sold at an average price of $550.00, for a total transaction of $333,300.00. Following the sale, the director now directly owns 32,929 shares of the company’s stock, valued at $18,110,950. This represents a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,681 shares of company stock valued at $2,525,126 in the last three months. Company insiders own 0.15% of the company’s stock.

Adobe Stock Down 1.5 %

ADBE opened at $456.99 on Thursday. The company has a 50 day moving average of $441.28 and a 200 day moving average of $494.89. The company has a market cap of $198.93 billion, a PE ratio of 36.85, a price-to-earnings-growth ratio of 2.23 and a beta of 1.31. Adobe Inc. has a 12 month low of $403.75 and a 12 month high of $587.75. 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 (NASDAQ:ADBE) last announced its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, beating 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 firm had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.54 billion. During the same period last year, the firm earned $3.52 EPS. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. On average, sell-side analysts expect that Adobe Inc. will post 16.65 EPS for the current year.

Wall Street Analyst Weigh In

ADBE has been the topic of a number of analyst reports. DA Davidson lowered their target price on shares of Adobe from $685.00 to $625.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. StockNews.com upgraded shares of Adobe from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, January 28th. Piper Sandler decreased their price objective on shares of Adobe from $635.00 to $600.00 and set an “overweight” rating for the company in a research note on Thursday, December 12th. JMP Securities reiterated a “market perform” rating on shares of Adobe in a research note on Thursday, December 12th. Finally, Citigroup decreased their price objective on shares of Adobe from $616.00 to $590.00 and set a “neutral” rating for the company in a research note on Monday, December 9th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $570.88.

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.