Adobe Inc. (NASDAQ:ADBE) Shares Sold by Sicart Associates LLC

Sicart Associates LLC trimmed its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 9.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,815 shares of the software company’s stock after selling 915 shares during the period. Adobe makes up about 1.4% of Sicart Associates LLC’s portfolio, making the stock its 29th biggest position. Sicart Associates LLC’s holdings in Adobe were worth $3,920,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in ADBE. Sienna Gestion grew its position in Adobe by 0.9% during the second quarter. Sienna Gestion now owns 21,434 shares of the software company’s stock valued at $11,902,000 after buying an additional 185 shares during the period. Middleton & Co. Inc. MA grew its position in shares of Adobe by 10.6% during the 2nd quarter. Middleton & Co. Inc. MA now owns 20,623 shares of the software company’s stock valued at $11,457,000 after acquiring an additional 1,970 shares during the period. Resolute Capital Asset Partners LLC purchased a new stake in shares of Adobe in the second quarter valued at approximately $3,055,000. Intech Investment Management LLC grew its stake in Adobe by 20.1% in the 2nd quarter. Intech Investment Management LLC now owns 41,818 shares of the software company’s stock valued at $23,232,000 after acquiring an additional 6,985 shares during the period. Finally, Brighton Jones LLC raised its position in Adobe by 1.8% during the second quarter. Brighton Jones LLC now owns 8,126 shares of the software company’s stock worth $4,514,000 after acquiring an additional 142 shares during the period. 81.79% of the stock is owned by hedge funds and other institutional investors.

Adobe Stock Up 2.3 %

ADBE stock opened at $426.93 on Friday. The company’s 50 day moving average is $479.32 and its two-hundred day moving average is $514.33. Adobe Inc. has a twelve month low of $403.75 and a twelve month high of $638.25. The company has a current ratio of 1.07, a quick ratio of 1.11 and a debt-to-equity ratio of 0.29. The stock has a market cap of $185.84 billion, a P/E ratio of 34.43, a PEG ratio of 1.97 and a beta of 1.31.

Adobe (NASDAQ:ADBE) last announced 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 firm had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.54 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. Adobe’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the company earned $3.52 earnings per share. Research analysts expect that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CAO Jillian Forusz sold 676 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $484.97, for a total value of $327,839.72. Following the transaction, the chief accounting officer now owns 2,715 shares of the company’s stock, valued at approximately $1,316,693.55. The trade was a 19.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Amy Banse sold 606 shares of the stock in a transaction on Friday, December 6th. The stock was sold at an average price of $550.00, for a total value of $333,300.00. Following the sale, the director now directly owns 32,929 shares of the company’s stock, valued at approximately $18,110,950. This represents a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,763 shares of company stock worth $893,665 in the last quarter. 0.15% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on ADBE shares. Barclays decreased their price target on shares of Adobe from $675.00 to $645.00 and set an “overweight” rating on the stock in a research note on Thursday, December 12th. Stifel Nicolaus dropped their price target on Adobe from $650.00 to $600.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. Royal Bank of Canada decreased their price target on shares of Adobe from $610.00 to $590.00 and set an “outperform” rating on the stock in a research note on Thursday, December 12th. Piper Sandler dropped their price target on Adobe from $635.00 to $600.00 and set an “overweight” rating for the company in a research report on Thursday, December 12th. Finally, Deutsche Bank Aktiengesellschaft reiterated 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. One analyst has rated the stock with a sell rating, ten have given a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $573.00.

Adobe Company 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.