Adobe Inc. (NASDAQ:ADBE) Stock Holdings Lessened by Lindenwold Advisors INC

Lindenwold Advisors INC decreased its position in Adobe Inc. (NASDAQ:ADBE - Free Report) by 26.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,067 shares of the software company's stock after selling 1,077 shares during the quarter. Lindenwold Advisors INC's holdings in Adobe were worth $1,364,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in ADBE. Swedbank AB grew its position in shares of Adobe by 0.3% in the 3rd quarter. Swedbank AB now owns 1,196,175 shares of the software company's stock worth $619,355,000 after acquiring an additional 3,739 shares in the last quarter. United Bank grew its stake in Adobe by 19.7% during the 3rd quarter. United Bank now owns 2,596 shares of the software company's stock worth $1,344,000 after buying an additional 428 shares during the last quarter. Thrivent Financial for Lutherans increased its position in Adobe by 8.6% in the third quarter. Thrivent Financial for Lutherans now owns 85,048 shares of the software company's stock worth $44,036,000 after buying an additional 6,720 shares during the period. Quest Partners LLC increased its position in Adobe by 322.1% in the third quarter. Quest Partners LLC now owns 2,482 shares of the software company's stock worth $1,285,000 after buying an additional 1,894 shares during the period. Finally, MidAtlantic Capital Management Inc. bought a new stake in Adobe in the third quarter valued at $30,000. Institutional investors and hedge funds own 81.79% of the company's stock.

Adobe Price Performance

Shares of NASDAQ:ADBE traded down $2.35 during trading hours on Friday, hitting $387.26. 7,579,546 shares of the company's stock traded hands, compared to its average volume of 3,193,419. Adobe Inc. has a 52 week low of $374.50 and a 52 week high of $587.75. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07. The company's fifty day simple moving average is $434.16 and its two-hundred day simple moving average is $475.10. The company has a market cap of $168.62 billion, a price-to-earnings ratio of 31.23, a price-to-earnings-growth ratio of 2.15 and a beta of 1.37.

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Adobe (NASDAQ:ADBE - Get Free Report) last posted its quarterly earnings data on Wednesday, March 12th. The software company reported $5.08 earnings per share for the quarter, beating the consensus estimate of $4.97 by $0.11. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The company had revenue of $5.71 billion during the quarter, compared to analyst estimates of $5.66 billion. During the same quarter last year, the firm posted $4.48 EPS. As a group, equities analysts anticipate that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently commented on ADBE shares. Morgan Stanley lowered their price target on shares of Adobe from $660.00 to $600.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. Jefferies Financial Group decreased their target price on shares of Adobe from $700.00 to $650.00 and set a "buy" rating for the company in a research report on Thursday, December 12th. Piper Sandler cut their price target on Adobe from $635.00 to $600.00 and set an "overweight" rating on the stock in a report on Thursday, December 12th. TD Cowen lowered Adobe from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $625.00 to $550.00 in a report on Thursday, December 12th. Finally, Robert W. Baird cut their target price on Adobe from $490.00 to $410.00 and set a "neutral" rating on the stock in a research note on Wednesday. Eleven investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $538.80.

Insider Buying and Selling at Adobe

In other Adobe news, EVP Scott Belsky sold 3,819 shares of the company's 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 sale, the executive vice president now directly owns 18,334 shares of the company's stock, valued at approximately $7,888,020.16. This represents a 17.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David A. Ricks purchased 2,250 shares of Adobe stock in a transaction dated Tuesday, January 28th. The stock was bought at an average cost of $443.98 per share, with a total value of $998,955.00. Following the completion of the transaction, the director now directly owns 4,984 shares of the company's stock, valued at $2,212,796.32. This represents a 82.30 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 5,075 shares of company stock valued at $2,191,826. 0.16% of the stock is currently owned by corporate insiders.

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.