Adobe Inc. (NASDAQ:ADBE) is Trillium Asset Management LLC’s 10th Largest Position

Trillium Asset Management LLC cut its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 5.3% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 115,917 shares of the software company’s stock after selling 6,533 shares during the period. Adobe accounts for 1.3% of Trillium Asset Management LLC’s investment portfolio, making the stock its 10th largest holding. Trillium Asset Management LLC’s holdings in Adobe were worth $51,545,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on ADBE shares. StockNews.com lowered shares of Adobe from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 4th. BMO Capital Markets reduced their price objective on shares of Adobe from $515.00 to $495.00 and set an “outperform” rating on the stock in a report on Thursday, March 13th. UBS Group set a $495.00 price objective on shares of Adobe in a report on Thursday, March 13th. Robert W. Baird reduced their price objective on shares of Adobe from $500.00 to $490.00 and set a “neutral” rating on the stock in a report on Thursday, March 13th. Finally, Morgan Stanley reduced their price objective on shares of Adobe from $660.00 to $600.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $542.00.

Adobe Trading Down 2.0 %

Shares of Adobe stock opened at $391.37 on Wednesday. Adobe Inc. has a 1 year low of $374.50 and a 1 year high of $587.75. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07. The company has a market capitalization of $170.40 billion, a P/E ratio of 31.56, a PEG ratio of 2.15 and a beta of 1.37. The company’s fifty day moving average is $435.77 and its two-hundred day moving average is $479.02.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings data on Wednesday, March 12th. The software company reported $5.08 earnings per share (EPS) for the quarter, topping the consensus estimate 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 last year, the firm posted $4.48 EPS. Analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current year.

Insider Activity

In other news, EVP Scott Belsky sold 922 shares of Adobe stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $437.28, for a total value 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. The trade was a 4.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Jillian Forusz sold 334 shares of Adobe stock in a transaction dated Tuesday, January 28th. The shares were 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 directly owns 2,685 shares in the company, valued at approximately $1,170,203.55. The trade was a 11.06 % decrease in their position. 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 over the last quarter. Corporate insiders own 0.16% of the company’s stock.

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.