Forsta AP Fonden Has $49.09 Million Stock Position in Adobe Inc. (NASDAQ:ADBE)

Forsta AP Fonden lowered its stake in Adobe Inc. (NASDAQ:ADBE - Free Report) by 13.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 110,400 shares of the software company's stock after selling 17,400 shares during the quarter. Forsta AP Fonden's holdings in Adobe were worth $49,093,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ADBE. Onyx Bridge Wealth Group LLC lifted its holdings in Adobe by 4.0% during the third quarter. Onyx Bridge Wealth Group LLC now owns 526 shares of the software company's stock valued at $272,000 after purchasing an additional 20 shares during the last quarter. Connable Office Inc. boosted its stake in Adobe by 0.5% in the third quarter. Connable Office Inc. now owns 3,732 shares of the software company's stock worth $1,932,000 after buying an additional 20 shares in the last quarter. 1ST Source Bank boosted its stake in shares of Adobe by 0.7% during the third quarter. 1ST Source Bank now owns 2,889 shares of the software company's stock valued at $1,496,000 after purchasing an additional 20 shares during the period. Next Capital Management LLC boosted its stake in shares of Adobe by 3.2% during the second quarter. Next Capital Management LLC now owns 678 shares of the software company's stock valued at $377,000 after purchasing an additional 21 shares during the period. Finally, James J. Burns & Company LLC lifted its stake in Adobe by 5.6% in the third quarter. James J. Burns & Company LLC now owns 415 shares of the software company's stock worth $215,000 after acquiring an additional 22 shares during the period. Institutional investors own 81.79% of the company's stock.

Insiders Place Their Bets

In other news, CAO Jillian Forusz sold 334 shares of the company's stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $435.83, for a total transaction of $145,567.22. Following the completion of the transaction, the chief accounting officer now owns 2,685 shares of the company's stock, valued at approximately $1,170,203.55. This represents a 11.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Scott Belsky sold 922 shares of the company's stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $437.28, for a total transaction of $403,172.16. Following the completion of the sale, the executive vice president now directly owns 22,153 shares in the company, valued at approximately $9,687,063.84. The trade was a 4.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,681 shares of company stock worth $2,525,126. Corporate insiders own 0.15% of the company's stock.

Adobe Stock Down 0.3 %

NASDAQ:ADBE traded down $1.16 during mid-day trading on Wednesday, reaching $441.68. The stock had a trading volume of 2,993,831 shares, compared to its average volume of 4,004,716. 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 50 day simple moving average is $465.79 and its two-hundred day simple moving average is $505.60. Adobe Inc. has a 1-year low of $403.75 and a 1-year high of $638.25. The company has a market capitalization of $192.26 billion, a price-to-earnings ratio of 35.62, a price-to-earnings-growth ratio of 2.12 and a beta of 1.31.

Adobe (NASDAQ:ADBE - Get Free Report) last released its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share for the quarter, beating analysts' consensus estimates of $4.67 by $0.14. The company had revenue of $5.61 billion for the quarter, compared to analysts' expectations of $5.54 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The business's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.52 earnings per share. Equities analysts anticipate that Adobe Inc. will post 16.65 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on ADBE shares. Royal Bank of Canada decreased 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. JMP Securities reissued a "market perform" rating on shares of Adobe in a research note on Thursday, December 12th. Stifel Nicolaus decreased their target price on Adobe from $650.00 to $600.00 and set a "buy" rating on the stock in a research note on Thursday, December 12th. BMO Capital Markets reduced their price objective on Adobe from $600.00 to $570.00 and set an "outperform" rating on the stock in a research note on Thursday, December 12th. Finally, Bank of America cut their target price on Adobe from $640.00 to $605.00 and set a "buy" rating on the stock in a research report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Adobe currently has an average rating of "Moderate Buy" and an average price target of $573.00.

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.