Adobe Inc. (NASDAQ:ADBE) Shares Sold by Calamos Advisors LLC

Calamos Advisors LLC decreased its stake in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 23.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 108,296 shares of the software company's stock after selling 32,721 shares during the quarter. Calamos Advisors LLC's holdings in Adobe were worth $48,157,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Nordea Investment Management AB lifted its stake in Adobe by 2.0% in the fourth quarter. Nordea Investment Management AB now owns 1,712,616 shares of the software company's stock worth $765,094,000 after acquiring an additional 33,414 shares during the period. Public Sector Pension Investment Board raised its holdings in shares of Adobe by 12.2% in the 3rd quarter. Public Sector Pension Investment Board now owns 19,322 shares of the software company's stock valued at $10,005,000 after purchasing an additional 2,100 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Adobe by 28.0% in the 3rd quarter. GAMMA Investing LLC now owns 6,458 shares of the software company's stock worth $3,344,000 after purchasing an additional 1,412 shares during the period. Jacobs Levy Equity Management Inc. boosted its stake in shares of Adobe by 201.0% during the third quarter. Jacobs Levy Equity Management Inc. now owns 117,383 shares of the software company's stock valued at $60,779,000 after purchasing an additional 78,384 shares in the last quarter. Finally, Morse Asset Management Inc boosted its stake in shares of Adobe by 33.0% during the third quarter. Morse Asset Management Inc now owns 8,519 shares of the software company's stock valued at $4,411,000 after purchasing an additional 2,113 shares in the last quarter. 81.79% of the stock is owned by hedge funds and other institutional investors.

Adobe Stock Performance

Shares of NASDAQ:ADBE traded down $2.23 during midday trading on Thursday, reaching $435.40. The company's stock had a trading volume of 2,564,914 shares, compared to its average volume of 3,815,312. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29. The stock has a fifty day moving average of $457.14 and a 200 day moving average of $500.93. Adobe Inc. has a twelve month low of $403.75 and a twelve month high of $628.07. The firm has a market capitalization of $189.53 billion, a PE ratio of 35.11, a P/E/G ratio of 2.12 and a beta of 1.31.

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

Wall Street Analysts Forecast Growth

ADBE has been the subject of a number of analyst reports. DA Davidson lowered their target price on Adobe from $685.00 to $625.00 and set a "buy" rating for the company in a report on Thursday, December 12th. Stifel Nicolaus decreased their price objective on Adobe from $650.00 to $600.00 and set a "buy" rating for the company in a research note on Thursday, December 12th. TD Cowen lowered Adobe from a "buy" rating to a "hold" rating and cut their target price for the company from $625.00 to $550.00 in a research note on Thursday, December 12th. Sanford C. Bernstein reduced their target price on shares of Adobe from $644.00 to $587.00 and set an "outperform" rating for the company in a report on Thursday, December 12th. Finally, UBS Group lowered their price target on shares of Adobe from $525.00 to $475.00 and set a "neutral" rating on the stock in a report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $573.00.

Insider Activity at Adobe

In related news, CAO Jillian Forusz sold 334 shares of Adobe 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 owns 2,685 shares in the company, valued at $1,170,203.55. The trade was a 11.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Amy Banse sold 606 shares of the company's stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $550.00, for a total value of $333,300.00. Following the completion of the transaction, the director now directly owns 32,929 shares of the company's stock, valued at $18,110,950. The trade was a 1.81 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,681 shares of company stock worth $2,525,126. 0.15% of the stock is owned by corporate insiders.

Adobe Company 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.