Montrusco Bolton Investments Inc. Decreases Stake in Adobe Inc. (NASDAQ:ADBE)

Montrusco Bolton Investments Inc. trimmed its position in Adobe Inc. (NASDAQ:ADBE - Free Report) by 16.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 668,498 shares of the software company's stock after selling 126,991 shares during the period. Adobe makes up approximately 3.5% of Montrusco Bolton Investments Inc.'s portfolio, making the stock its 12th biggest position. Montrusco Bolton Investments Inc. owned approximately 0.15% of Adobe worth $288,827,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Nvest Financial LLC grew its position in shares of Adobe by 5.7% during the 4th quarter. Nvest Financial LLC now owns 1,979 shares of the software company's stock valued at $880,000 after acquiring an additional 106 shares during the period. Foster Victor Wealth Advisors LLC increased its holdings in shares of Adobe by 26.1% in the 4th quarter. Foster Victor Wealth Advisors LLC now owns 51,651 shares of the software company's stock worth $22,209,000 after buying an additional 10,690 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its position in Adobe by 21.0% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 494,915 shares of the software company's stock valued at $220,079,000 after acquiring an additional 85,820 shares during the last quarter. R Squared Ltd purchased a new position in shares of Adobe during the fourth quarter worth approximately $141,000. Finally, Deane Retirement Strategies Inc. boosted its stake in shares of Adobe by 119.8% in the 4th quarter. Deane Retirement Strategies Inc. now owns 8,120 shares of the software company's stock valued at $3,611,000 after purchasing an additional 4,426 shares in the last quarter. Institutional investors and hedge funds own 81.79% of the company's stock.

Wall Street Analyst Weigh In

ADBE has been the subject of a number of recent analyst reports. Wells Fargo & Company lowered their price target on Adobe from $700.00 to $640.00 and set an "overweight" rating for the company in a research report on Tuesday, January 7th. TD Cowen downgraded shares of Adobe from a "buy" rating to a "hold" rating and reduced their price objective for the company from $625.00 to $550.00 in a research report on Thursday, December 12th. BNP Paribas upgraded shares of Adobe from an "underperform" rating to a "neutral" rating and set a $425.00 price objective for the company in a report on Wednesday, January 15th. Stifel Nicolaus decreased their price objective on Adobe from $650.00 to $600.00 and set a "buy" rating for the company in a report on Thursday, December 12th. Finally, Oppenheimer dropped their target price on shares of Adobe from $625.00 to $600.00 and set an "outperform" rating on the stock in a report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, Adobe presently has an average rating of "Moderate Buy" and an average target price of $573.00.

Adobe Trading Down 0.3 %

Shares of NASDAQ:ADBE traded down $1.16 on Wednesday, hitting $441.68. 2,993,831 shares of the company's stock were exchanged, compared to its average volume of 4,004,716. The business's 50 day simple moving average is $465.79 and its two-hundred day simple moving average is $505.60. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. Adobe Inc. has a 12 month low of $403.75 and a 12 month high of $638.25. The stock has a market capitalization of $192.26 billion, a price-to-earnings ratio of 35.62, a price-to-earnings-growth ratio of 2.12 and a beta of 1.31.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, beating the consensus estimate of $4.67 by $0.14. The business had revenue of $5.61 billion during the quarter, compared to analyst estimates of $5.54 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The company's quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.52 EPS. Analysts anticipate that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Insider Activity at Adobe

In related news, EVP Scott Belsky sold 3,819 shares of the business's stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $430.24, for a total transaction of $1,643,086.56. Following the transaction, the executive vice president now directly owns 18,334 shares in the company, valued at approximately $7,888,020.16. The trade was a 17.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Amy Banse sold 606 shares of the stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $550.00, for a total transaction of $333,300.00. Following the completion of the sale, the director now owns 32,929 shares of the company's stock, valued at approximately $18,110,950. The trade was a 1.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,681 shares of company stock valued at $2,525,126 in the last ninety days. Corporate insiders own 0.15% of the company's stock.

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.