Adobe Inc. (NASDAQ:ADBE) Shares Sold by BDF Gestion

BDF Gestion lessened its stake in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 11.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 11,712 shares of the software company's stock after selling 1,522 shares during the period. BDF Gestion's holdings in Adobe were worth $5,208,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Legacy Investment Solutions LLC purchased a new stake in shares of Adobe in the 3rd quarter valued at approximately $26,000. Piscataqua Savings Bank grew its position in Adobe by 226.7% in the third quarter. Piscataqua Savings Bank now owns 49 shares of the software company's stock worth $25,000 after acquiring an additional 34 shares during the period. MidAtlantic Capital Management Inc. acquired a new stake in Adobe during the third quarter worth $30,000. True Wealth Design LLC increased its stake in Adobe by 141.7% during the third quarter. True Wealth Design LLC now owns 58 shares of the software company's stock worth $30,000 after acquiring an additional 34 shares during the last quarter. Finally, Briaud Financial Planning Inc purchased a new stake in Adobe in the third quarter valued at $36,000. Institutional investors and hedge funds own 81.79% of the company's stock.

Adobe Stock Up 1.0 %

Adobe stock traded up $4.32 during mid-day trading on Thursday, hitting $446.00. The company had a trading volume of 3,282,922 shares, compared to its average volume of 3,965,859. Adobe Inc. has a 1 year low of $403.75 and a 1 year high of $638.25. The stock has a market cap of $194.14 billion, a price-to-earnings ratio of 35.97, a PEG ratio of 2.12 and a beta of 1.31. 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 business has a fifty day moving average of $464.63 and a 200 day moving average of $505.15.

Adobe (NASDAQ:ADBE - Get Free Report) last issued its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 earnings per share for the quarter, beating analysts' consensus estimates of $4.67 by $0.14. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The company had revenue of $5.61 billion during the quarter, compared to analysts' expectations of $5.54 billion. During the same quarter in the previous year, the business earned $3.52 earnings per share. The firm's revenue for the quarter was up 11.1% on a year-over-year basis. On average, sell-side analysts expect that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Insider Activity at Adobe

In other news, EVP Scott Belsky sold 922 shares of the firm's stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $437.28, for a total value of $403,172.16. Following the completion of the sale, the executive vice president now directly owns 22,153 shares of the company's stock, valued at $9,687,063.84. This trade represents a 4.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Amy Banse sold 606 shares of the firm's stock in a transaction on Friday, December 6th. The shares were sold at an average price of $550.00, for a total value of $333,300.00. Following the completion of the sale, the director now directly owns 32,929 shares of the company's stock, valued at approximately $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 5,681 shares of company stock worth $2,525,126 in the last quarter. Company insiders own 0.15% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ADBE. StockNews.com upgraded Adobe from a "buy" rating to a "strong-buy" rating in a report on Tuesday. JMP Securities reaffirmed a "market perform" rating on shares of Adobe in a research note on Thursday, December 12th. TD Cowen downgraded shares of Adobe from a "buy" rating to a "hold" rating and reduced their price target for the company from $625.00 to $550.00 in a research note on Thursday, December 12th. BMO Capital Markets lowered their price objective on shares of Adobe from $600.00 to $570.00 and set an "outperform" rating for the company in a research report on Thursday, December 12th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $475.00 target price (down previously from $600.00) on shares of Adobe in a report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $573.00.

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.