Atria Investments Inc Lowers Holdings in Adobe Inc. (NASDAQ:ADBE)

Atria Investments Inc decreased its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 3.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,738 shares of the software company's stock after selling 1,915 shares during the period. Atria Investments Inc's holdings in Adobe were worth $21,228,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Proficio Capital Partners LLC raised its holdings in Adobe by 82,528.8% during the 4th quarter. Proficio Capital Partners LLC now owns 1,042,775 shares of the software company's stock valued at $463,701,000 after acquiring an additional 1,041,513 shares during the period. FMR LLC grew its position in shares of Adobe by 8.8% in the third quarter. FMR LLC now owns 9,690,163 shares of the software company's stock valued at $5,017,373,000 after purchasing an additional 787,356 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Adobe by 42.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,168,584 shares of the software company's stock valued at $519,646,000 after purchasing an additional 347,536 shares during the period. Seilern Investment Management Ltd purchased a new stake in Adobe during the 4th quarter worth about $110,744,000. Finally, Erste Asset Management GmbH bought a new position in Adobe in the 3rd quarter worth about $126,703,000. Institutional investors own 81.79% of the company's stock.

Adobe Trading Up 1.2 %

Adobe stock traded up $5.21 during trading hours on Wednesday, reaching $451.24. The company had a trading volume of 2,404,505 shares, compared to its average volume of 3,415,368. 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 $587.75. The company has a 50-day moving average price of $439.61 and a 200 day moving average price of $488.77. The firm has a market cap of $196.42 billion, a price-to-earnings ratio of 36.39, a P/E/G ratio of 2.15 and a beta of 1.37.

Adobe (NASDAQ:ADBE - Get Free Report) last issued its earnings results on Wednesday, December 11th. The software company reported $4.81 EPS 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 net margin of 25.85% and a return on equity of 45.87%. The firm's revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the previous year, the firm earned $3.52 earnings per share. Equities analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current year.

Insider Transactions at Adobe

In related news, EVP Scott Belsky sold 3,819 shares of the firm's stock in a transaction on Monday, January 27th. The stock was 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 of the company's stock, valued at $7,888,020.16. This trade represents a 17.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director David A. Ricks acquired 2,250 shares of Adobe stock in a transaction on Tuesday, January 28th. The shares were bought at an average cost of $443.98 per share, for a total transaction of $998,955.00. Following the completion of the transaction, the director now owns 4,984 shares in the company, 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. Over the last ninety days, insiders sold 5,681 shares of company stock worth $2,525,126. Company insiders own 0.15% of the company's stock.

Analyst Upgrades and Downgrades

ADBE has been the topic of several analyst reports. Mizuho decreased their price target on Adobe from $640.00 to $620.00 and set an "outperform" rating on the stock in a research report on Thursday, December 12th. DA Davidson decreased their target price on shares of Adobe from $685.00 to $625.00 and set a "buy" rating on the stock in a report on Thursday, December 12th. BMO Capital Markets cut their price target on shares of Adobe from $570.00 to $515.00 and set an "outperform" rating for the company in a report on Wednesday, February 19th. Sanford C. Bernstein decreased their price target on shares of Adobe from $644.00 to $587.00 and set an "outperform" rating on the stock in a report on Thursday, December 12th. Finally, Redburn Atlantic initiated coverage on Adobe in a research report on Wednesday, February 19th. They issued a "neutral" rating on the stock. One analyst has rated the stock with a sell rating, eleven have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $570.88.

Adobe 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.