Winslow Capital Management LLC Sells 210,815 Shares of Adobe Inc. (NASDAQ:ADBE)

Winslow Capital Management LLC lessened its stake in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 46.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 245,079 shares of the software company's stock after selling 210,815 shares during the period. Winslow Capital Management LLC owned about 0.06% of Adobe worth $108,982,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Decker Retirement Planning Inc. purchased a new position in Adobe during the 4th quarter worth approximately $31,000. Summit Securities Group LLC acquired a new stake in shares of Adobe in the fourth quarter worth $31,000. Caitlin John LLC grew its holdings in shares of Adobe by 171.4% during the fourth quarter. Caitlin John LLC now owns 76 shares of the software company's stock valued at $34,000 after buying an additional 48 shares in the last quarter. Mascoma Wealth Management LLC raised its position in Adobe by 142.9% during the fourth quarter. Mascoma Wealth Management LLC now owns 85 shares of the software company's stock valued at $38,000 after buying an additional 50 shares during the period. Finally, LFA Lugano Financial Advisors SA purchased a new stake in Adobe in the 4th quarter worth about $38,000. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ADBE. JPMorgan Chase & Co. dropped their target price on Adobe from $580.00 to $540.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Wells Fargo & Company cut their target price on shares of Adobe from $640.00 to $600.00 and set an "overweight" rating for the company in a research report on Friday, March 7th. Evercore ISI lowered their price target on shares of Adobe from $650.00 to $550.00 and set an "outperform" rating on the stock in a report on Thursday, March 13th. Stifel Nicolaus cut their price objective on Adobe from $600.00 to $525.00 and set a "buy" rating for the company in a report on Thursday, March 13th. Finally, Robert W. Baird lowered their target price on Adobe from $490.00 to $410.00 and set a "neutral" rating on the stock in a research note on Wednesday, March 19th. Eleven analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $527.12.

Insider Activity

In related news, CAO Jillian Forusz sold 334 shares of the firm's stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total transaction 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. This trade represents a 11.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Scott Belsky sold 3,819 shares of the company's stock in a transaction on Monday, January 27th. The shares were sold at an average price of $430.24, for a total value of $1,643,086.56. Following the completion of the sale, the executive vice president now owns 18,334 shares in the company, valued at $7,888,020.16. This trade represents a 17.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,075 shares of company stock worth $2,191,826. 0.16% of the stock is currently owned by corporate insiders.

Adobe Stock Performance

Adobe stock traded up $2.42 during mid-day trading on Friday, reaching $352.47. The company had a trading volume of 3,940,472 shares, compared to its average volume of 3,399,269. 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 firm has a market cap of $150.22 billion, a price-to-earnings ratio of 28.43, a PEG ratio of 2.15 and a beta of 1.49. The company has a 50 day moving average of $413.00 and a 200-day moving average of $455.28. Adobe Inc. has a 52 week low of $332.01 and a 52 week high of $587.75.

Adobe (NASDAQ:ADBE - Get Free Report) last released its earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share for the quarter, topping analysts' consensus estimates of $4.97 by $0.11. The business had revenue of $5.71 billion for the quarter, compared to the consensus estimate 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 business earned $4.48 earnings per share. On average, sell-side analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal 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.