Capitol Family Office Inc. Sells 1,123 Shares of Adobe Inc. (NASDAQ:ADBE)

Capitol Family Office Inc. cut its holdings in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 37.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,902 shares of the software company's stock after selling 1,123 shares during the quarter. Adobe comprises 1.1% of Capitol Family Office Inc.'s portfolio, making the stock its 11th biggest holding. Capitol Family Office Inc.'s holdings in Adobe were worth $846,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC increased its stake in shares of Adobe by 66,909.7% during the third quarter. International Assets Investment Management LLC now owns 1,378,390 shares of the software company's stock worth $713,703,000 after purchasing an additional 1,376,333 shares during the period. FMR LLC grew its holdings in Adobe by 8.8% in the 3rd quarter. FMR LLC now owns 9,690,163 shares of the software company's stock valued at $5,017,373,000 after buying an additional 787,356 shares in the last quarter. Assenagon Asset Management S.A. increased its position in 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 worth $519,646,000 after buying an additional 347,536 shares during the period. Seilern Investment Management Ltd acquired a new stake in shares of Adobe during the fourth quarter worth $110,744,000. Finally, Erste Asset Management GmbH bought a new stake in shares of Adobe in the third quarter valued at about $126,703,000. Institutional investors own 81.79% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. JMP Securities reaffirmed a "market perform" rating on shares of Adobe in a research report on Thursday, December 12th. DA Davidson lowered 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. Oppenheimer cut their price target on Adobe from $625.00 to $600.00 and set an "outperform" rating for the company in a research note on Thursday, December 12th. Mizuho lowered their price objective on Adobe from $640.00 to $620.00 and set an "outperform" rating on the stock in a research note on Thursday, December 12th. Finally, Royal Bank of Canada dropped their price objective on Adobe from $610.00 to $590.00 and set an "outperform" rating for the company in a report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, Adobe presently has a consensus rating of "Moderate Buy" and an average target price of $573.00.

Insider Transactions at Adobe

In related news, Director David A. Ricks acquired 2,250 shares of the business's stock in a transaction that occurred on Tuesday, January 28th. The shares were bought at an average cost of $443.98 per share, with a total value 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 ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director Amy Banse sold 606 shares of the company's stock in a transaction that occurred 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 owns 32,929 shares in the company, valued at $18,110,950. The trade was a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,681 shares of company stock worth $2,525,126. Company insiders own 0.15% of the company's stock.

Adobe Trading Down 1.9 %

Adobe stock traded down $8.55 during trading hours on Friday, hitting $437.45. The stock had a trading volume of 4,684,105 shares, compared to its average volume of 4,003,151. The stock has a market cap of $190.42 billion, a price-to-earnings ratio of 35.28, a P/E/G ratio of 2.14 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's 50 day simple moving average is $463.46 and its 200-day simple moving average is $504.74. Adobe Inc. has a one year low of $403.75 and a one year high of $638.25.

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 (EPS) for the quarter, beating analysts' consensus estimates of $4.67 by $0.14. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The business had revenue of $5.61 billion during the quarter, compared to analyst estimates of $5.54 billion. During the same quarter last year, the business earned $3.52 EPS. The firm's quarterly revenue was up 11.1% on a year-over-year basis. On average, equities analysts predict that Adobe Inc. will post 16.65 EPS for the current fiscal year.

About Adobe

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.