Adobe Inc. (NASDAQ:ADBE) Shares Sold by Nilsine Partners LLC

Nilsine Partners LLC lessened its position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 90.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 816 shares of the software company's stock after selling 7,869 shares during the quarter. Nilsine Partners LLC's holdings in Adobe were worth $363,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Piscataqua Savings Bank grew its position in Adobe by 226.7% in the 3rd quarter. Piscataqua Savings Bank now owns 49 shares of the software company's stock valued at $25,000 after buying an additional 34 shares during the last quarter. Legacy Investment Solutions LLC purchased a new stake in shares of Adobe in the third quarter valued at about $26,000. Groupama Asset Managment raised its holdings in Adobe by 28.8% during the third quarter. Groupama Asset Managment now owns 51,482 shares of the software company's stock worth $27,000 after purchasing an additional 11,522 shares in the last quarter. MidAtlantic Capital Management Inc. acquired a new stake in Adobe in the third quarter valued at about $30,000. Finally, True Wealth Design LLC boosted its holdings in Adobe by 141.7% in the 3rd quarter. True Wealth Design LLC now owns 58 shares of the software company's stock valued at $30,000 after purchasing an additional 34 shares in the last quarter. Institutional investors and hedge funds own 81.79% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on ADBE shares. DA Davidson cut their price objective on Adobe from $685.00 to $625.00 and set a "buy" rating for the company in a research report on Thursday, December 12th. Royal Bank of Canada cut their price target on shares of Adobe from $610.00 to $590.00 and set an "outperform" rating for the company in a report on Thursday, December 12th. Bank of America decreased their price objective on shares of Adobe from $640.00 to $605.00 and set a "buy" rating on the stock in a report on Thursday, December 12th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $475.00 target price (down from $600.00) on shares of Adobe in a report on Wednesday, January 8th. Finally, JMP Securities reissued a "market perform" rating on shares of Adobe in a research note on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $573.00.

Insider Activity at Adobe

In related news, CAO Jillian Forusz sold 334 shares of the firm's stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total transaction of $145,567.22. Following the transaction, the chief accounting officer now directly owns 2,685 shares in the company, valued at $1,170,203.55. This trade represents a 11.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Amy Banse sold 606 shares of the business's stock in a transaction on Friday, December 6th. The shares were sold at an average price of $550.00, for a total transaction of $333,300.00. Following the sale, the director now owns 32,929 shares of the company's stock, valued at approximately $18,110,950. The trade was a 1.81 % 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 over the last three months. 0.15% of the stock is owned by insiders.

Adobe Stock Up 1.0 %

NASDAQ:ADBE traded up $4.32 during trading hours on Thursday, hitting $446.00. The stock had a trading volume of 3,282,922 shares, compared to its average volume of 3,965,859. The company has a market cap of $194.14 billion, a PE ratio of 35.97, a price-to-earnings-growth ratio of 2.12 and a beta of 1.31. The business has a 50 day simple moving average of $464.63 and a two-hundred day simple moving average of $505.15. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29. Adobe Inc. has a 1-year low of $403.75 and a 1-year high of $638.25.

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

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.