Fiera Capital Corp Sells 69,295 Shares of Adobe Inc. (NASDAQ:ADBE)

Fiera Capital Corp trimmed its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 14.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 408,988 shares of the software company's stock after selling 69,295 shares during the quarter. Fiera Capital Corp owned about 0.09% of Adobe worth $227,209,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Tradewinds Capital Management LLC grew its stake in shares of Adobe by 266.7% in the 1st quarter. Tradewinds Capital Management LLC now owns 55 shares of the software company's stock valued at $28,000 after buying an additional 40 shares during the period. Salomon & Ludwin LLC increased its holdings in shares of Adobe by 346.2% during the first quarter. Salomon & Ludwin LLC now owns 58 shares of the software company's stock valued at $29,000 after acquiring an additional 45 shares in the last quarter. Summit Securities Group LLC acquired a new position in shares of Adobe during the second quarter worth approximately $33,000. Lynx Investment Advisory bought a new position in shares of Adobe in the 2nd quarter worth $39,000. Finally, Hobbs Group Advisors LLC acquired a new stake in Adobe in the 2nd quarter valued at $39,000. 81.79% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Adobe

In related news, CEO Shantanu Narayen sold 25,000 shares of Adobe stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $521.58, for a total transaction of $13,039,500.00. Following the completion of the sale, the chief executive officer now owns 357,700 shares of the company's stock, valued at $186,569,166. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Adobe news, EVP Scott Belsky sold 1,530 shares of the firm's stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $560.23, for a total transaction of $857,151.90. Following the sale, the executive vice president now owns 20,359 shares in the company, valued at $11,405,722.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Shantanu Narayen sold 25,000 shares of the firm's stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $521.58, for a total value of $13,039,500.00. Following the sale, the chief executive officer now owns 357,700 shares in the company, valued at approximately $186,569,166. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,759 shares of company stock valued at $17,642,653. Company insiders own 0.15% of the company's stock.

Adobe Stock Performance

Shares of Adobe stock traded up $2.30 during trading hours on Monday, reaching $517.78. The company had a trading volume of 2,415,493 shares, compared to its average volume of 3,241,180. Adobe Inc. has a one year low of $433.97 and a one year high of $638.25. The business has a fifty day simple moving average of $544.38 and a 200 day simple moving average of $516.45. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.11 and a quick ratio of 1.16. The firm has a market cap of $229.58 billion, a PE ratio of 46.52, a price-to-earnings-growth ratio of 2.72 and a beta of 1.29.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its quarterly earnings results on Thursday, September 12th. The software company reported $4.65 EPS for the quarter, topping analysts' consensus estimates of $4.53 by $0.12. Adobe had a return on equity of 42.82% and a net margin of 25.59%. The firm had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.37 billion. During the same period last year, the company earned $3.26 earnings per share. The business's revenue for the quarter was up 10.6% on a year-over-year basis. On average, analysts anticipate that Adobe Inc. will post 14.79 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. KeyCorp raised their price objective on shares of Adobe from $445.00 to $450.00 and gave the company an "underweight" rating in a research note on Friday, June 14th. JPMorgan Chase & Co. raised Adobe from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $570.00 to $580.00 in a report on Friday, June 14th. Mizuho reissued a "buy" rating and issued a $640.00 price objective (down from $680.00) on shares of Adobe in a research note on Friday, June 7th. Argus raised Adobe to a "strong-buy" rating in a research note on Monday, September 16th. Finally, Wells Fargo & Company increased their price objective on Adobe from $675.00 to $700.00 and gave the stock an "overweight" rating in a research note on Friday, June 14th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Adobe has a consensus rating of "Moderate Buy" and an average price target of $606.40.

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.