Adobe Inc. (NASDAQ:ADBE) Shares Sold by D L Carlson Investment Group Inc.

D L Carlson Investment Group Inc. cut its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 3.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,543 shares of the software company’s stock after selling 78 shares during the quarter. D L Carlson Investment Group Inc.’s holdings in Adobe were worth $1,131,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of ADBE. United Bank increased its position in Adobe by 19.7% during the 3rd quarter. United Bank now owns 2,596 shares of the software company’s stock worth $1,344,000 after purchasing an additional 428 shares in the last quarter. Edgestream Partners L.P. purchased a new position in shares of Adobe in the 3rd quarter valued at $719,000. Tradition Wealth Management LLC lifted its holdings in shares of Adobe by 2.8% during the 3rd quarter. Tradition Wealth Management LLC now owns 2,646 shares of the software company’s stock valued at $1,370,000 after acquiring an additional 73 shares in the last quarter. Semmax Financial Advisors Inc. increased its holdings in Adobe by 9.5% in the 3rd quarter. Semmax Financial Advisors Inc. now owns 5,094 shares of the software company’s stock valued at $2,681,000 after purchasing an additional 444 shares in the last quarter. Finally, Plotkin Financial Advisors LLC purchased a new position in Adobe in the third quarter valued at about $316,000. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Adobe

In related news, EVP Scott Belsky sold 922 shares of Adobe stock in a transaction on Friday, January 24th. The stock was sold at an average price of $437.28, for a total transaction of $403,172.16. Following the completion of the sale, the executive vice president now owns 22,153 shares of the company’s stock, valued at approximately $9,687,063.84. This trade represents a 4.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Jillian Forusz sold 334 shares of the company’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total value of $145,567.22. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,075 shares of company stock valued at $2,191,826 in the last quarter. Company insiders own 0.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ADBE. Evercore ISI dropped their price objective on shares of Adobe from $650.00 to $550.00 and set an “outperform” rating on the stock in a research note on Thursday, March 13th. BNP Paribas raised shares of Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 price target for the company in a research report on Wednesday, January 15th. KeyCorp raised shares of Adobe from an “underweight” rating to a “sector weight” rating in a report on Friday, March 21st. Piper Sandler decreased their target price on Adobe from $635.00 to $600.00 and set an “overweight” rating for the company in a research report on Thursday, December 12th. Finally, Mizuho lowered their target price on shares of Adobe from $620.00 to $575.00 and set an “outperform” rating for the company in a research note on Thursday, March 13th. Eleven research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Adobe presently has an average rating of “Moderate Buy” and a consensus price target of $533.85.

Adobe Stock Down 2.6 %

Shares of Adobe stock opened at $385.71 on Monday. Adobe Inc. has a 1 year low of $374.50 and a 1 year high of $587.75. The company has a market cap of $164.39 billion, a P/E ratio of 31.11, a P/E/G ratio of 2.15 and a beta of 1.37. 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 has a 50-day moving average price of $431.81 and a 200 day moving average price of $468.92.

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

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.