Stifel Financial Corp Sells 33,250 Shares of Adobe Inc. (NASDAQ:ADBE)

Stifel Financial Corp lowered its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 4.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 729,301 shares of the software company's stock after selling 33,250 shares during the period. Stifel Financial Corp owned about 0.17% of Adobe worth $324,304,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Nordea Investment Management AB increased its holdings in Adobe by 2.0% during the fourth quarter. Nordea Investment Management AB now owns 1,712,616 shares of the software company's stock worth $765,094,000 after buying an additional 33,414 shares during the last quarter. Arizona State Retirement System grew its position in shares of Adobe by 0.4% during the 4th quarter. Arizona State Retirement System now owns 127,696 shares of the software company's stock valued at $56,784,000 after acquiring an additional 570 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in shares of Adobe by 1.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 99,150 shares of the software company's stock worth $44,090,000 after purchasing an additional 1,326 shares during the last quarter. M. Kraus & Co bought a new stake in shares of Adobe in the 4th quarter worth approximately $3,285,000. Finally, Silicon Valley Capital Partners grew its holdings in Adobe by 4.1% during the fourth quarter. Silicon Valley Capital Partners now owns 5,972 shares of the software company's stock valued at $2,656,000 after purchasing an additional 236 shares during the period. Institutional investors own 81.79% of the company's stock.

Adobe Price Performance

Shares of ADBE traded up $6.81 during midday trading on Friday, reaching $367.72. The stock had a trading volume of 3,497,352 shares, compared to its average volume of 3,429,606. The company has a market capitalization of $156.72 billion, a price-to-earnings ratio of 29.65, a price-to-earnings-growth 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 12-month low of $332.01 and a 12-month high of $587.75. The company's 50-day moving average is $394.82 and its 200 day moving average is $446.30.

Adobe (NASDAQ:ADBE - Get Free Report) last announced its quarterly earnings data on Wednesday, March 12th. The software company reported $5.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.97 by $0.11. The firm had revenue of $5.71 billion for the quarter, compared to analysts' expectations of $5.66 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. During the same period last year, the firm earned $4.48 earnings per share. On average, equities analysts predict that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Piper Sandler cut their price target on Adobe from $600.00 to $500.00 and set an "overweight" rating for the company in a research note on Wednesday. Morgan Stanley cut their target price on shares of Adobe from $600.00 to $510.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Oppenheimer lowered their price target on shares of Adobe from $560.00 to $530.00 and set an "outperform" rating on the stock in a research report on Thursday, March 13th. Stifel Nicolaus cut their price objective on shares of Adobe from $600.00 to $525.00 and set a "buy" rating for the company in a report on Thursday, March 13th. Finally, KeyCorp raised shares of Adobe from an "underweight" rating to a "sector weight" rating in a report on Friday, March 21st. Eleven equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Adobe has a consensus rating of "Moderate Buy" and a consensus price target of $502.88.

Insider Activity

In other Adobe news, EVP Scott Belsky sold 3,819 shares of the stock in a transaction on 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 completion of the sale, the executive vice president now owns 18,334 shares of the company's stock, valued at $7,888,020.16. This represents a 17.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director David A. Ricks acquired 2,250 shares of the firm's stock in a transaction on Tuesday, January 28th. The stock was purchased at an average price of $443.98 per share, for a total transaction of $998,955.00. Following the transaction, the director now directly 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 position. The disclosure for this purchase can be found here. Insiders own 0.16% of the company's stock.

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.