Adobe Inc. (NASDAQ:ADBE) Stake Reduced by Fulton Breakefield Broenniman LLC

Fulton Breakefield Broenniman LLC reduced its stake in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 3.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,908 shares of the software company's stock after selling 899 shares during the quarter. Fulton Breakefield Broenniman LLC's holdings in Adobe were worth $11,521,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. International Assets Investment Management LLC grew its position in Adobe by 66,909.7% during the 3rd 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 last quarter. FMR LLC boosted its stake in shares of Adobe by 8.8% during the third quarter. FMR LLC now owns 9,690,163 shares of the software company's stock worth $5,017,373,000 after buying an additional 787,356 shares during the period. Assenagon Asset Management S.A. grew its holdings in shares of Adobe by 42.3% during the fourth 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 last quarter. Seilern Investment Management Ltd acquired a new position in Adobe in the 4th quarter valued at about $110,744,000. Finally, Erste Asset Management GmbH purchased a new stake in Adobe during the 3rd quarter valued at approximately $126,703,000. 81.79% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Adobe

In related news, Director Amy Banse sold 606 shares of the business's 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 completion of the sale, the director now directly owns 32,929 shares of the company's stock, valued at $18,110,950. The trade was a 1.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Scott Belsky sold 922 shares of Adobe stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $437.28, for a total value of $403,172.16. Following the completion of the transaction, the executive vice president now owns 22,153 shares of the company's stock, 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. Insiders sold a total of 5,681 shares of company stock valued at $2,525,126 in the last ninety days. Insiders own 0.15% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ADBE. DA Davidson dropped their target price on Adobe from $685.00 to $625.00 and set a "buy" rating on the stock in a report on Thursday, December 12th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $475.00 price objective (down from $600.00) on shares of Adobe in a research note on Wednesday, January 8th. Barclays reduced their target price on shares of Adobe from $675.00 to $645.00 and set an "overweight" rating for the company in a research note on Thursday, December 12th. Bank of America dropped their price target on shares of Adobe from $640.00 to $605.00 and set a "buy" rating on the stock in a research note on Thursday, December 12th. Finally, Royal Bank of Canada lowered their price objective on Adobe from $610.00 to $590.00 and set an "outperform" rating on the stock in a report on Thursday, December 12th. One analyst has rated the stock with a sell rating, ten have given a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Adobe currently has an average rating of "Moderate Buy" and an average price target of $573.00.

Adobe Stock Down 0.3 %

NASDAQ:ADBE traded down $1.31 during mid-day trading on Wednesday, hitting $441.53. The company had a trading volume of 1,510,955 shares, compared to its average volume of 3,919,447. Adobe Inc. has a 1 year low of $403.75 and a 1 year high of $638.25. The business has a fifty day simple moving average of $465.79 and a 200-day simple moving average of $505.60. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $192.20 billion, a price-to-earnings ratio of 35.62, a PEG 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, 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 firm had revenue of $5.61 billion during the quarter, compared to analysts' expectations of $5.54 billion. During the same quarter in the prior year, the business earned $3.52 EPS. Adobe's quarterly revenue was up 11.1% compared to the same quarter last year. Equities analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current fiscal 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.