Curi RMB Capital LLC Has $7.19 Million Position in Adobe Inc. (NASDAQ:ADBE)

Curi RMB Capital LLC reduced its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 10.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,158 shares of the software company's stock after selling 1,825 shares during the period. Curi RMB Capital LLC's holdings in Adobe were worth $7,185,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ADBE. M&T Bank Corp grew its stake in shares of Adobe by 3.9% during the 3rd quarter. M&T Bank Corp now owns 156,198 shares of the software company's stock worth $80,876,000 after acquiring an additional 5,905 shares in the last quarter. Virtu Financial LLC bought a new position in Adobe in the third quarter valued at $4,167,000. Morse Asset Management Inc increased its stake in Adobe by 32.6% in the 3rd quarter. Morse Asset Management Inc now owns 8,494 shares of the software company's stock valued at $4,398,000 after buying an additional 2,088 shares during the last quarter. Te Ahumairangi Investment Management Ltd lifted its position in Adobe by 12.9% during the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 4,455 shares of the software company's stock worth $2,294,000 after buying an additional 510 shares in the last quarter. Finally, Anchor Investment Management LLC boosted its stake in shares of Adobe by 1.6% during the 3rd quarter. Anchor Investment Management LLC now owns 16,261 shares of the software company's stock worth $8,420,000 after buying an additional 255 shares during the last quarter. 81.79% of the stock is owned by institutional investors.

Insider Buying and Selling at Adobe

In other news, Director David A. Ricks purchased 2,250 shares of the company's stock in a transaction dated Tuesday, January 28th. The shares were purchased at an average price of $443.98 per share, for a total transaction of $998,955.00. Following the transaction, the director now owns 4,984 shares of the company's stock, valued at approximately $2,212,796.32. This trade represents a 82.30 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Scott Belsky sold 922 shares of the 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 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 5,075 shares of company stock worth $2,191,826. 0.16% of the stock is currently owned by company insiders.

Adobe Price Performance

Adobe stock traded up $8.95 during mid-day trading on Thursday, reaching $360.91. The company had a trading volume of 3,079,849 shares, compared to its average volume of 3,989,957. The business has a fifty day simple moving average of $396.80 and a 200 day simple moving average of $447.18. The company has a market cap of $153.82 billion, a P/E ratio of 29.11, a P/E/G ratio of 2.15 and a beta of 1.49. 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 Inc. has a fifty-two week low of $332.01 and a fifty-two week high of $587.75.

Adobe (NASDAQ:ADBE - Get Free Report) last issued its 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 return on equity of 45.87% and a net margin of 25.85%. The business had revenue of $5.71 billion during the quarter, compared to analysts' expectations of $5.66 billion. During the same quarter in the prior year, the firm earned $4.48 EPS. On average, equities research analysts predict that Adobe Inc. will post 16.65 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $475.00 target price (down previously from $600.00) on shares of Adobe in a report on Wednesday, January 8th. DA Davidson cut their price objective on Adobe from $600.00 to $450.00 and set a "buy" rating for the company in a report on Monday, April 14th. JPMorgan Chase & Co. lowered their target price on shares of Adobe from $580.00 to $540.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Redburn Atlantic began coverage on shares of Adobe in a research note on Wednesday, February 19th. They issued a "neutral" rating for the company. Finally, Oppenheimer lowered their price objective on shares of Adobe from $560.00 to $530.00 and set an "outperform" rating on the stock in a research note on Thursday, March 13th. Eleven analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Adobe has an average rating of "Moderate Buy" and an average price target of $502.88.

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.