Adobe Inc. (NASDAQ:ADBE) Shares Sold by Flputnam Investment Management Co.

Flputnam Investment Management Co. decreased its position in Adobe Inc. (NASDAQ:ADBE - Free Report) by 19.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,934 shares of the software company's stock after selling 5,455 shares during the period. Flputnam Investment Management Co.'s holdings in Adobe were worth $9,754,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Connable Office Inc. increased its stake in Adobe by 0.5% during 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 in the last quarter. 1ST Source Bank raised its holdings in Adobe by 0.7% in the 3rd 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 period. James J. Burns & Company LLC raised its position in Adobe by 5.6% in the third quarter. James J. Burns & Company LLC now owns 415 shares of the software company's stock valued at $215,000 after purchasing an additional 22 shares during the period. Holistic Financial Partners lifted its position in shares of Adobe by 6.0% during the third quarter. Holistic Financial Partners now owns 387 shares of the software company's stock worth $200,000 after purchasing an additional 22 shares in the last quarter. Finally, Latitude Advisors LLC boosted its stake in shares of 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 buying an additional 23 shares during the period. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Adobe Stock Performance

Shares of NASDAQ:ADBE traded up $6.93 during trading on Monday, reaching $445.49. The company had a trading volume of 528,734 shares, compared to its average volume of 3,399,674. Adobe Inc. has a fifty-two week low of $403.75 and a fifty-two week 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. The stock's fifty day moving average price is $439.71 and its 200 day moving average price is $490.59. The firm has a market capitalization of $193.92 billion, a price-to-earnings ratio of 35.94, a price-to-earnings-growth ratio of 2.15 and a beta of 1.31.

Adobe (NASDAQ:ADBE - Get Free Report) last issued its earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $5.54 billion. During the same period in the prior year, the business posted $3.52 EPS. The company's revenue for the quarter was up 11.1% on a year-over-year basis. As a group, equities research analysts predict that Adobe Inc. will post 16.65 EPS for the current year.

Insiders Place Their Bets

In other Adobe news, EVP Scott Belsky sold 3,819 shares of the business's stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $430.24, for a total transaction of $1,643,086.56. Following the completion of the sale, the executive vice president now owns 18,334 shares of the company's stock, valued at approximately $7,888,020.16. The trade was a 17.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David A. Ricks bought 2,250 shares of the company's stock in a transaction that occurred on Tuesday, January 28th. The shares were acquired at an average cost of $443.98 per share, with a total value of $998,955.00. Following the transaction, the director now owns 4,984 shares in the company, valued at approximately $2,212,796.32. This represents a 82.30 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders sold 5,681 shares of company stock valued at $2,525,126. Company insiders own 0.15% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Sanford C. Bernstein dropped their price target on shares of Adobe from $644.00 to $587.00 and set an "outperform" rating on the stock in a research note on Thursday, December 12th. Jefferies Financial Group decreased their target price on shares of Adobe from $700.00 to $650.00 and set a "buy" rating on the stock in a research report on Thursday, December 12th. BNP Paribas upgraded Adobe from an "underperform" rating to a "neutral" rating and set a $425.00 target price for the company in a research note on Wednesday, January 15th. Bank of America lowered their price target on Adobe from $640.00 to $605.00 and set a "buy" rating for the company in a research report on Thursday, December 12th. Finally, Deutsche Bank Aktiengesellschaft restated a "hold" rating and set 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, eleven have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Adobe currently has a consensus rating of "Moderate Buy" and an average target price of $570.88.

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.