Copperwynd Financial LLC Sells 374 Shares of Adobe Inc. (NASDAQ:ADBE)

Copperwynd Financial LLC trimmed its position in shares of Adobe Inc. (NASDAQ:ADBE) by 12.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 2,612 shares of the software company’s stock after selling 374 shares during the period. Copperwynd Financial LLC’s holdings in Adobe were worth $1,161,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Legacy Investment Solutions LLC purchased a new position in Adobe in the 3rd quarter worth approximately $26,000. MidAtlantic Capital Management Inc. purchased a new position in shares of Adobe in the third quarter worth $30,000. True Wealth Design LLC lifted its holdings in shares of Adobe by 141.7% during the third quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock valued at $30,000 after purchasing an additional 34 shares in the last quarter. Briaud Financial Planning Inc purchased a new stake in shares of Adobe during the third quarter valued at $36,000. Finally, Decker Retirement Planning Inc. bought a new stake in Adobe in the 4th quarter worth about $31,000. Institutional investors own 81.79% of the company’s stock.

Insiders Place Their Bets

In other Adobe news, Director David A. Ricks acquired 2,250 shares of the company’s stock in a transaction on Tuesday, January 28th. The stock was acquired at an average cost of $443.98 per share, with a total value of $998,955.00. Following the purchase, the director now directly owns 4,984 shares of the company’s stock, valued at approximately $2,212,796.32. This represents a 82.30 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Scott Belsky sold 3,819 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now owns 18,334 shares in the company, valued at $7,888,020.16. This represents a 17.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,075 shares of company stock valued at $2,191,826 in the last quarter. 0.16% of the stock is currently owned by insiders.

Adobe Trading Up 4.5 %

Shares of ADBE opened at $394.74 on Friday. The firm has a market cap of $171.87 billion, a P/E ratio of 31.83, a price-to-earnings-growth ratio of 2.15 and a beta of 1.37. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. Adobe Inc. has a 1 year low of $374.50 and a 1 year high of $587.75. The company has a 50 day simple moving average of $437.03 and a two-hundred day simple moving average of $482.65.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.97 by $0.11. The company had revenue of $5.71 billion for the quarter, compared to the consensus estimate of $5.66 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. During the same period in the previous year, the firm posted $4.48 EPS. On average, equities analysts expect that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ADBE has been the topic of a number of recent analyst reports. Bank of America dropped their price target on shares of Adobe from $605.00 to $528.00 and set a “buy” rating on the stock in a report on Thursday. KeyCorp cut their target price on shares of Adobe from $450.00 to $390.00 and set an “underweight” rating for the company in a research report on Thursday. Royal Bank of Canada dropped their price target on Adobe from $550.00 to $530.00 and set an “outperform” rating on the stock in a research note on Thursday. Evercore ISI lowered their target price on Adobe from $650.00 to $550.00 and set an “outperform” rating on the stock in a report on Thursday. Finally, Sanford C. Bernstein dropped their target price on Adobe from $644.00 to $587.00 and set an “outperform” rating on the stock in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $539.46.

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.