Fisher Asset Management LLC Sells 16,105 Shares of Adobe Inc. (NASDAQ:ADBE)

Fisher Asset Management LLC decreased its stake in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 0.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 4,843,479 shares of the software company's stock after selling 16,105 shares during the quarter. Fisher Asset Management LLC owned 1.11% of Adobe worth $2,153,799,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Connable Office Inc. raised its position in Adobe by 0.5% in the 3rd quarter. Connable Office Inc. now owns 3,732 shares of the software company's stock valued at $1,932,000 after purchasing an additional 20 shares during the last quarter. 1ST Source Bank raised its holdings in shares of Adobe by 0.7% in the third quarter. 1ST Source Bank now owns 2,889 shares of the software company's stock valued at $1,496,000 after buying an additional 20 shares during the last quarter. James J. Burns & Company LLC lifted its position in Adobe by 5.6% during the 3rd quarter. James J. Burns & Company LLC now owns 415 shares of the software company's stock worth $215,000 after buying an additional 22 shares in the last quarter. Holistic Financial Partners grew its holdings in Adobe by 6.0% during the 3rd quarter. Holistic Financial Partners now owns 387 shares of the software company's stock worth $200,000 after acquiring an additional 22 shares during the last quarter. Finally, Latitude Advisors LLC increased its position in Adobe by 4.3% in the 3rd quarter. Latitude Advisors LLC now owns 555 shares of the software company's stock valued at $287,000 after acquiring an additional 23 shares in the last quarter. Institutional investors and hedge funds own 81.79% of the company's stock.

Insider Activity at Adobe

In other news, 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 value of $1,643,086.56. Following the completion of the transaction, the executive vice president now owns 18,334 shares of the company's stock, valued at $7,888,020.16. This trade represents a 17.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Amy Banse sold 606 shares of Adobe stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $550.00, for a total value of $333,300.00. Following the transaction, the director now owns 32,929 shares of the company's stock, valued at $18,110,950. The trade was a 1.81 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,681 shares of company stock valued at $2,525,126. Corporate insiders own 0.15% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on ADBE shares. BNP Paribas raised shares of Adobe from an "underperform" rating to a "neutral" rating and set a $425.00 price target on the stock in a research note on Wednesday, January 15th. Oppenheimer lowered their target price on Adobe from $625.00 to $600.00 and set an "outperform" rating for the company in a research note on Thursday, December 12th. BMO Capital Markets cut their price target on Adobe from $570.00 to $515.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 19th. Piper Sandler lowered their price objective 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, Barclays cut their target price on shares of Adobe from $675.00 to $645.00 and set an "overweight" rating on the stock in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Adobe presently has a consensus rating of "Moderate Buy" and an average price target of $570.88.

Adobe Stock Up 0.3 %

Shares of ADBE traded up $1.30 during midday trading on Friday, hitting $438.49. The stock had a trading volume of 3,936,248 shares, compared to its average volume of 3,474,121. The firm has a market cap 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. The company has a 50 day simple moving average of $439.71 and a two-hundred day simple moving average of $490.93. Adobe Inc. has a twelve month low of $403.75 and a twelve month high of $587.75. 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, 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 return on equity of 45.87% and a net margin of 25.85%. The business had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.54 billion. During the same quarter last year, the firm earned $3.52 EPS. Adobe's revenue for the quarter was up 11.1% compared to the same quarter last year. On average, analysts anticipate that Adobe Inc. will post 16.65 EPS for the current year.

Adobe Company 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.