Adobe Inc. (NASDAQ:ADBE) Shares Sold by Blueshift Asset Management LLC

Blueshift Asset Management LLC decreased its position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 44.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,274 shares of the software company's stock after selling 1,013 shares during the quarter. Blueshift Asset Management LLC's holdings in Adobe were worth $567,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Swedbank AB increased its stake in shares of 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 purchasing an additional 3,739 shares in the last quarter. United Bank boosted its holdings in Adobe by 19.7% in the 3rd quarter. United Bank now owns 2,596 shares of the software company's stock worth $1,344,000 after buying an additional 428 shares during the last quarter. Meeder Asset Management Inc. increased its stake in Adobe by 31.3% during the 3rd quarter. Meeder Asset Management Inc. now owns 256 shares of the software company's stock worth $133,000 after buying an additional 61 shares in the last quarter. Avior Wealth Management LLC raised its holdings in shares of Adobe by 29.1% during the third quarter. Avior Wealth Management LLC now owns 789 shares of the software company's stock valued at $409,000 after acquiring an additional 178 shares during the last quarter. Finally, Moors & Cabot Inc. lifted its position in shares of Adobe by 2.8% in the third quarter. Moors & Cabot Inc. now owns 3,550 shares of the software company's stock valued at $1,838,000 after acquiring an additional 98 shares in the last quarter. 81.79% of the stock is owned by hedge funds and other institutional investors.

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Adobe Trading Up 2.3 %

ADBE traded up $9.17 during mid-day trading on Tuesday, hitting $403.64. 3,645,864 shares of the stock were exchanged, compared to its average volume of 3,193,294. The firm's fifty day moving average is $433.88 and its two-hundred day moving average is $473.88. Adobe Inc. has a 1-year low of $374.50 and a 1-year high of $587.75. The company has a market cap of $175.75 billion, a PE ratio of 32.55, a PEG ratio of 2.15 and a beta of 1.37. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29.

Adobe (NASDAQ:ADBE - Get Free Report) last issued its quarterly earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.97 by $0.11. The business had revenue of $5.71 billion for the quarter, compared to analysts' expectations of $5.66 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. During the same quarter in the prior year, the company earned $4.48 earnings per share. Equities analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on ADBE shares. UBS Group set a $495.00 target price on shares of Adobe in a report on Thursday, March 13th. Oppenheimer dropped their price objective on shares of Adobe from $560.00 to $530.00 and set an "outperform" rating for the company in a research note on Thursday, March 13th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $475.00 target price (down from $600.00) on shares of Adobe in a research note on Wednesday, January 8th. Piper Sandler dropped their price target on Adobe from $635.00 to $600.00 and set an "overweight" rating for the company in a research report on Thursday, December 12th. Finally, StockNews.com downgraded Adobe from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, March 4th. Eleven investment 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 company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $538.80.

Insiders Place Their Bets

In related news, EVP Scott Belsky sold 922 shares of Adobe stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $437.28, for a total value of $403,172.16. Following the completion of the transaction, the executive vice president now owns 22,153 shares in the company, valued at $9,687,063.84. The trade was a 4.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Daniel Durn purchased 1,300 shares of the stock in a transaction on Thursday, March 20th. The shares were purchased at an average price of $390.58 per share, with a total value of $507,754.00. Following the acquisition, the chief financial officer now directly owns 29,876 shares in the company, valued at $11,668,968.08. This represents a 4.55 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 5,075 shares of company stock worth $2,191,826 over the last 90 days. Corporate insiders own 0.16% of the company's stock.

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.