Adobe Inc. (NASDAQ:ADBE) Shares Sold by Edmond DE Rothschild Holding S.A.

Edmond DE Rothschild Holding S.A. lowered its stake in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 16.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 47,188 shares of the software company's stock after selling 9,584 shares during the quarter. Edmond DE Rothschild Holding S.A.'s holdings in Adobe were worth $20,984,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of ADBE. United Bank lifted its stake in Adobe by 19.7% in the third quarter. United Bank now owns 2,596 shares of the software company's stock worth $1,344,000 after acquiring an additional 428 shares during the period. Edgestream Partners L.P. bought a new position in Adobe in the third quarter worth approximately $719,000. Tradition Wealth Management LLC boosted its position in Adobe by 2.8% during the 3rd quarter. Tradition Wealth Management LLC now owns 2,646 shares of the software company's stock valued at $1,370,000 after acquiring an additional 73 shares in the last quarter. Semmax Financial Advisors Inc. increased its holdings in shares of Adobe by 9.5% in the 3rd quarter. Semmax Financial Advisors Inc. now owns 5,094 shares of the software company's stock valued at $2,681,000 after acquiring an additional 444 shares during the period. Finally, Plotkin Financial Advisors LLC bought a new position in shares of Adobe in the 3rd quarter worth $316,000. 81.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Redburn Atlantic began coverage on Adobe in a research note on Wednesday, February 19th. They issued a "neutral" rating on the stock. Royal Bank of Canada reaffirmed an "outperform" rating and set a $530.00 price target on shares of Adobe in a research report on Wednesday, March 19th. Evercore ISI reduced their target price on Adobe from $650.00 to $550.00 and set an "outperform" rating on the stock in a research report on Thursday, March 13th. Jefferies Financial Group dropped their price target on Adobe from $650.00 to $590.00 and set a "buy" rating on the stock in a research note on Monday. Finally, Piper Sandler lowered their target price on shares of Adobe from $635.00 to $600.00 and set an "overweight" rating for the company in a research note on Thursday, December 12th. Eleven investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Adobe currently has an average rating of "Moderate Buy" and a consensus price target of $531.54.

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Insider Buying and Selling

In related news, CFO Daniel Durn purchased 1,300 shares of Adobe stock in a transaction dated Thursday, March 20th. The shares were acquired at an average price of $390.58 per share, with a total value of $507,754.00. Following the completion of the transaction, the chief financial officer now owns 29,876 shares of the company's stock, valued at approximately $11,668,968.08. This trade represents a 4.55 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Scott Belsky sold 3,819 shares of Adobe stock in a transaction dated 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 $7,888,020.16. This trade represents a 17.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,075 shares of company stock worth $2,191,826. Insiders own 0.16% of the company's stock.

Adobe Trading Down 3.9 %

NASDAQ:ADBE traded down $14.89 during trading hours on Thursday, reaching $370.89. 2,425,853 shares of the company were exchanged, compared to its average volume of 3,326,048. Adobe Inc. has a 52-week low of $367.96 and a 52-week high of $587.75. The stock has a 50 day simple moving average of $428.78 and a 200 day simple moving average of $465.84. The firm has a market cap of $158.07 billion, a price-to-earnings ratio of 29.91, a PEG ratio of 2.15 and a beta of 1.37. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07.

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