Bailard Inc. Lowers Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

Bailard Inc. lowered its stake in Adobe Inc. (NASDAQ:ADBE - Free Report) by 9.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 46,642 shares of the software company's stock after selling 5,067 shares during the quarter. Bailard Inc.'s holdings in Adobe were worth $20,741,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in ADBE. Swedbank AB grew its position in Adobe by 0.3% during the third quarter. Swedbank AB now owns 1,196,175 shares of the software company's stock worth $619,355,000 after buying an additional 3,739 shares in the last quarter. EMC Capital Management boosted its holdings in shares of Adobe by 289.3% in the 3rd quarter. EMC Capital Management now owns 1,168 shares of the software company's stock worth $605,000 after purchasing an additional 868 shares in the last quarter. Dash Acquisitions Inc. raised its holdings in shares of Adobe by 7.2% during the 3rd quarter. Dash Acquisitions Inc. now owns 25,085 shares of the software company's stock valued at $12,134,000 after buying an additional 1,688 shares in the last quarter. Farther Finance Advisors LLC lifted its position in Adobe by 5.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 8,629 shares of the software company's stock worth $4,467,000 after buying an additional 468 shares during the last quarter. Finally, Chicago Partners Investment Group LLC raised its stake in shares of Adobe by 3.3% during the third quarter. Chicago Partners Investment Group LLC now owns 2,902 shares of the software company's stock worth $1,408,000 after acquiring an additional 93 shares in the last quarter. Hedge funds and other institutional investors own 81.79% of the company's stock.

Insider Activity

In related news, EVP Scott Belsky sold 3,819 shares of the firm's 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 transaction, the executive vice president now directly owns 18,334 shares of the company's stock, valued at approximately $7,888,020.16. This trade represents a 17.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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 transaction, the director now directly owns 32,929 shares of the company's stock, valued at $18,110,950. This trade represents a 1.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,681 shares of company stock worth $2,525,126 over the last quarter. Insiders own 0.15% of the company's stock.

Adobe Price Performance

Shares of NASDAQ ADBE traded up $1.30 during midday trading on Friday, reaching $438.49. The stock had a trading volume of 3,936,248 shares, compared to its average volume of 3,474,121. The company has a market capitalization of $190.87 billion, a price-to-earnings ratio of 35.36, a price-to-earnings-growth ratio of 2.15 and a beta of 1.31. Adobe Inc. has a 12-month low of $403.75 and a 12-month high of $587.75. The stock has a 50-day moving average of $439.71 and a 200-day moving average of $490.93. 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 released its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 earnings per share for the quarter, topping analysts' consensus estimates of $4.67 by $0.14. The firm had revenue of $5.61 billion during the quarter, compared to analyst estimates of $5.54 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The business's quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.52 earnings per share. As a group, research analysts anticipate that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ADBE has been the subject of several recent research reports. Royal Bank of Canada reissued an "outperform" rating and issued a $590.00 price target on shares of Adobe in a research note on Thursday, February 13th. Wells Fargo & Company lowered their price objective on Adobe from $700.00 to $640.00 and set an "overweight" rating for the company in a research report on Tuesday, January 7th. Piper Sandler dropped their price target on shares of Adobe from $635.00 to $600.00 and set an "overweight" rating for the company in a research report on Thursday, December 12th. Barclays lowered their price target on Adobe from $675.00 to $645.00 and set an "overweight" rating for the company in a research report on Thursday, December 12th. Finally, BNP Paribas raised shares of Adobe from an "underperform" rating to a "neutral" rating and set a $425.00 target price for the company in a research report on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price 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.