Adobe Inc. (NASDAQ:ADBE) Stake Cut by National Pension Service

National Pension Service reduced its stake in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 0.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 876,955 shares of the software company's stock after selling 1,840 shares during the quarter. National Pension Service owned 0.20% of Adobe worth $389,964,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. State Street Corp grew its position in Adobe by 1.2% during the third quarter. State Street Corp now owns 20,270,287 shares of the software company's stock worth $10,495,544,000 after buying an additional 234,909 shares during the period. Geode Capital Management LLC grew its position in Adobe by 1.4% during the third quarter. Geode Capital Management LLC now owns 10,529,089 shares of the software company's stock worth $5,435,377,000 after buying an additional 147,981 shares during the period. FMR LLC grew its position in Adobe by 8.8% during the third quarter. FMR LLC now owns 9,690,163 shares of the software company's stock worth $5,017,373,000 after buying an additional 787,356 shares during the period. Fisher Asset Management LLC grew its position in Adobe by 2.0% during the third quarter. Fisher Asset Management LLC now owns 4,859,584 shares of the software company's stock worth $2,516,196,000 after buying an additional 93,143 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Adobe by 3.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,741,549 shares of the software company's stock worth $2,455,079,000 after buying an additional 140,390 shares during the period. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Adobe Trading Up 0.3 %

ADBE traded up $1.30 on Friday, reaching $438.49. 3,936,248 shares of the company's stock were exchanged, compared to its average volume of 3,474,121. The company's 50 day moving average is $439.71 and its 200-day moving average is $491.24. The company has a market cap of $190.87 billion, a price-to-earnings ratio of 35.36, a PEG ratio of 2.15 and a beta of 1.31. Adobe Inc. has a twelve month low of $403.75 and a twelve month 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.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.67 by $0.14. The firm had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.54 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The company's revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.52 EPS. Equities analysts predict that Adobe Inc. will post 16.65 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ADBE. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $475.00 price target (down from $600.00) on shares of Adobe in a research report on Wednesday, January 8th. TD Cowen downgraded Adobe from a "buy" rating to a "hold" rating and dropped their price target for the stock from $625.00 to $550.00 in a research report on Thursday, December 12th. StockNews.com downgraded Adobe from a "strong-buy" rating to a "buy" rating in a research report on Thursday, February 20th. BMO Capital Markets dropped their price objective on Adobe from $570.00 to $515.00 and set an "outperform" rating for the company in a research report on Wednesday, February 19th. Finally, Wells Fargo & Company cut their target price on shares of Adobe from $700.00 to $640.00 and set an "overweight" rating for the company in a research note on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $570.88.

Insider Buying and Selling at Adobe

In other news, CAO Jillian Forusz sold 334 shares of Adobe stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $435.83, for a total transaction of $145,567.22. Following the sale, the chief accounting officer now owns 2,685 shares in the company, valued at $1,170,203.55. This trade represents a 11.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Amy Banse sold 606 shares of Adobe stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $550.00, for a total transaction of $333,300.00. Following the sale, the director now owns 32,929 shares in the company, valued at $18,110,950. This represents a 1.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,681 shares of company stock valued at $2,525,126 over the last 90 days. 0.15% of the stock is owned by corporate 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.