Fjarde AP Fonden Fourth Swedish National Pension Fund Sells 3,600 Shares of Adobe Inc. (NASDAQ:ADBE)

Fjarde AP Fonden Fourth Swedish National Pension Fund trimmed its position in shares of Adobe Inc. (NASDAQ:ADBE) by 3.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 96,523 shares of the software company’s stock after selling 3,600 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Adobe were worth $42,922,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. MONECO Advisors LLC grew its stake in shares of Adobe by 14.0% in the 4th quarter. MONECO Advisors LLC now owns 832 shares of the software company’s stock valued at $370,000 after purchasing an additional 102 shares during the period. Forvis Mazars Wealth Advisors LLC grew its stake in shares of Adobe by 1.2% in the 4th quarter. Forvis Mazars Wealth Advisors LLC now owns 8,050 shares of the software company’s stock valued at $3,580,000 after purchasing an additional 95 shares during the period. Howard Capital Management Inc. grew its stake in shares of Adobe by 3.0% in the 4th quarter. Howard Capital Management Inc. now owns 14,126 shares of the software company’s stock valued at $6,282,000 after purchasing an additional 417 shares during the period. Integral Investment Advisors Inc. grew its stake in shares of Adobe by 6.1% in the 4th quarter. Integral Investment Advisors Inc. now owns 2,782 shares of the software company’s stock valued at $1,237,000 after purchasing an additional 159 shares during the period. Finally, Cohen Capital Management Inc. grew its stake in shares of Adobe by 24.6% in the 4th quarter. Cohen Capital Management Inc. now owns 3,037 shares of the software company’s stock valued at $1,350,000 after purchasing an additional 600 shares during the period. 81.79% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on ADBE shares. Wells Fargo & Company decreased their price target on Adobe from $700.00 to $640.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Mizuho decreased their price target on Adobe from $640.00 to $620.00 and set an “outperform” rating on the stock in a research report on Thursday, December 12th. BNP Paribas upgraded Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 price target on the stock in a research report on Wednesday, January 15th. TD Cowen lowered Adobe from a “buy” rating to a “hold” rating and decreased their price target for the stock from $625.00 to $550.00 in a research report on Thursday, December 12th. Finally, Oppenheimer decreased their price target on Adobe from $625.00 to $600.00 and set an “outperform” rating on the stock in a research report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $570.88.

Adobe Stock Performance

Shares of Adobe stock opened at $444.32 on Friday. The company has a market capitalization of $193.41 billion, a PE ratio of 35.83, a PEG ratio of 2.20 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. The stock’s fifty day simple moving average is $440.46 and its 200 day simple moving average is $494.02.

Adobe (NASDAQ:ADBE) last issued 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 business had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $5.54 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The firm’s revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the business posted $3.52 EPS. On average, research analysts predict that Adobe Inc. will post 16.65 EPS for the current year.

Insider Buying and Selling

In other Adobe news, CAO Jillian Forusz sold 334 shares of the stock in a transaction dated 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 transaction, the chief accounting officer now owns 2,685 shares in the company, valued at approximately $1,170,203.55. This represents a 11.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Scott Belsky sold 3,819 shares of the stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $430.24, for a total value of $1,643,086.56. Following the transaction, the executive vice president now owns 18,334 shares of the company’s stock, valued at approximately $7,888,020.16. This trade represents a 17.24 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,681 shares of company stock valued at $2,525,126. 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.