Greenup Street Wealth Management LLC Trims Position in Adobe Inc. (NASDAQ:ADBE)

Greenup Street Wealth Management LLC decreased its position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 14.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,621 shares of the software company's stock after selling 798 shares during the quarter. Greenup Street Wealth Management LLC's holdings in Adobe were worth $2,055,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Bay Rivers Group grew its holdings in Adobe by 30.7% during the fourth quarter. Bay Rivers Group now owns 813 shares of the software company's stock valued at $362,000 after purchasing an additional 191 shares during the period. Slow Capital Inc. boosted its position in shares of Adobe by 9.7% during the 4th quarter. Slow Capital Inc. now owns 7,250 shares of the software company's stock valued at $3,224,000 after acquiring an additional 639 shares during the last quarter. Lebenthal Global Advisors LLC grew its holdings in shares of Adobe by 16.4% during the fourth quarter. Lebenthal Global Advisors LLC now owns 2,334 shares of the software company's stock worth $1,038,000 after purchasing an additional 329 shares in the last quarter. Baldwin Wealth Partners LLC MA grew its holdings in shares of Adobe by 6.0% during the fourth quarter. Baldwin Wealth Partners LLC MA now owns 45,627 shares of the software company's stock worth $20,289,000 after purchasing an additional 2,578 shares in the last quarter. Finally, Foundations Investment Advisors LLC increased its position in shares of Adobe by 30.9% in the fourth quarter. Foundations Investment Advisors LLC now owns 36,009 shares of the software company's stock worth $16,012,000 after purchasing an additional 8,508 shares during the last quarter. 81.79% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Adobe

In other news, Director Amy Banse sold 606 shares of the company's stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $550.00, for a total transaction 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. This represents a 1.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 0.15% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Sanford C. Bernstein reduced their price objective on Adobe from $644.00 to $587.00 and set an "outperform" rating on the stock in a research report on Thursday, December 12th. Stifel Nicolaus reduced their price target on shares of Adobe from $650.00 to $600.00 and set a "buy" rating on the stock in a research report on Thursday, December 12th. Bank of America cut their price objective on shares of Adobe from $640.00 to $605.00 and set a "buy" rating for the company in a research note on Thursday, December 12th. StockNews.com upgraded shares of Adobe from a "buy" rating to a "strong-buy" rating in a research report on Tuesday. Finally, BNP Paribas raised Adobe from an "underperform" rating to a "neutral" rating and set a $425.00 price objective on the stock in a research note on Wednesday, January 15th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Adobe presently has a consensus rating of "Moderate Buy" and an average target price of $573.00.

Adobe Stock Performance

NASDAQ ADBE traded up $4.65 on Tuesday, hitting $443.25. 2,984,283 shares of the company's stock traded hands, compared to its average volume of 3,909,846. The firm's 50-day moving average price is $466.93 and its two-hundred day moving average price is $506.42. The firm has a market capitalization of $192.94 billion, a PE ratio of 35.67, a P/E/G ratio of 2.12 and a beta of 1.31. 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 1-year low of $403.75 and a 1-year high of $638.25.

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, beating analysts' consensus estimates of $4.67 by $0.14. The company 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 firm's quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the firm posted $3.52 earnings per share. As a group, analysts expect that Adobe Inc. will post 16.65 EPS for the current year.

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.