B. Metzler seel. Sohn & Co. AG Decreases Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

B. Metzler seel. Sohn & Co. AG decreased its position in Adobe Inc. (NASDAQ:ADBE - Free Report) by 16.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,469 shares of the software company's stock after selling 8,342 shares during the period. B. Metzler seel. Sohn & Co. AG's holdings in Adobe were worth $18,440,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Legacy Investment Solutions LLC purchased a new position in Adobe in the third quarter worth approximately $26,000. True Wealth Design LLC grew its holdings in shares of Adobe by 141.7% during the 3rd quarter. True Wealth Design LLC now owns 58 shares of the software company's stock worth $30,000 after purchasing an additional 34 shares during the period. Decker Retirement Planning Inc. acquired a new stake in shares of Adobe during the 4th quarter worth about $31,000. Summit Securities Group LLC acquired a new stake in shares of Adobe during the 4th quarter worth about $31,000. Finally, Caitlin John LLC raised its holdings in Adobe by 171.4% in the 4th quarter. Caitlin John LLC now owns 76 shares of the software company's stock valued at $34,000 after buying an additional 48 shares during the period. Institutional investors and hedge funds own 81.79% of the company's stock.

Insiders Place Their Bets

In other news, Director David A. Ricks purchased 2,250 shares of the company's stock in a transaction dated Tuesday, January 28th. The shares were acquired at an average cost of $443.98 per share, for a total transaction of $998,955.00. Following the completion of the purchase, the director now directly owns 4,984 shares in the company, valued at $2,212,796.32. The trade was a 82.30 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Scott Belsky sold 3,819 shares of Adobe stock in a transaction that occurred 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 directly owns 18,334 shares in the company, valued at $7,888,020.16. This represents a 17.24 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,075 shares of company stock valued at $2,191,826. 0.16% of the stock is owned by company insiders.

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Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. JPMorgan Chase & Co. dropped their price target on shares of Adobe from $580.00 to $540.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. Sanford C. Bernstein cut their target price on Adobe from $644.00 to $587.00 and set an "outperform" rating on the stock in a research report on Thursday, December 12th. Mizuho lowered their price target on Adobe from $620.00 to $575.00 and set an "outperform" rating for the company in a research report on Thursday, March 13th. Evercore ISI cut their price objective on Adobe from $650.00 to $550.00 and set an "outperform" rating on the stock in a report on Thursday, March 13th. Finally, BMO Capital Markets lowered their target price on Adobe from $515.00 to $495.00 and set an "outperform" rating for the company in a report on Thursday, March 13th. Eleven equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $531.54.

Adobe Stock Performance

NASDAQ ADBE traded down $14.22 on Thursday, reaching $371.56. The stock had a trading volume of 2,737,245 shares, compared to its average volume of 3,326,730. The business's 50-day moving average price is $428.78 and its 200 day moving average price is $465.84. The stock has a market cap of $158.36 billion, a P/E ratio of 29.96, a price-to-earnings-growth ratio of 2.15 and a beta of 1.37. Adobe Inc. has a 12-month low of $367.96 and a 12-month high of $587.75. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07.

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

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.