Mutual Advisors LLC Sells 488 Shares of Adobe Inc. (NASDAQ:ADBE)

Mutual Advisors LLC reduced its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 2.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,538 shares of the software company’s stock after selling 488 shares during the quarter. Mutual Advisors LLC’s holdings in Adobe were worth $7,060,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ADBE. Piscataqua Savings Bank boosted its position in Adobe by 226.7% during the 3rd quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock valued at $25,000 after acquiring an additional 34 shares in the last quarter. Legacy Investment Solutions LLC bought a new stake in shares of Adobe during the third quarter valued at approximately $26,000. Groupama Asset Managment grew its stake in Adobe by 28.8% in 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 during the period. MidAtlantic Capital Management Inc. bought a new position in Adobe in the third quarter worth $30,000. Finally, True Wealth Design LLC lifted its position in Adobe by 141.7% during the third quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock valued at $30,000 after buying an additional 34 shares during the period. 81.79% of the stock is currently owned by institutional investors.

Insider Transactions 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 sale, the director now directly owns 32,929 shares in the company, valued at approximately $18,110,950. The trade was a 1.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Scott Belsky sold 481 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $483.42, for a total value of $232,525.02. Following the transaction, the executive vice president now owns 18,128 shares of the company’s stock, valued at $8,763,437.76. This represents a 2.58 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,763 shares of company stock valued at $893,665. 0.15% of the stock is currently owned by corporate insiders.

Adobe Stock Up 0.2 %

ADBE opened at $437.32 on Thursday. Adobe Inc. has a fifty-two week low of $403.75 and a fifty-two week high of $638.25. 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 stock has a market cap of $190.37 billion, a price-to-earnings ratio of 35.27, a price-to-earnings-growth ratio of 2.08 and a beta of 1.31. The firm’s fifty day moving average is $471.36 and its 200 day moving average is $509.54.

Adobe (NASDAQ:ADBE) last released its earnings results 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 firm had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.54 billion. During the same quarter last year, the business posted $3.52 earnings per share. The firm’s revenue was up 11.1% on a year-over-year basis. On average, sell-side analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ADBE has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $475.00 price target (down from $600.00) on shares of Adobe in a research report on Wednesday, January 8th. Sanford C. Bernstein lowered their target price on shares of Adobe from $644.00 to $587.00 and set an “outperform” rating for the company in a report on Thursday, December 12th. Barclays cut their price target on Adobe from $675.00 to $645.00 and set an “overweight” rating on the stock in a research note on Thursday, December 12th. Royal Bank of Canada reduced their price objective on Adobe from $610.00 to $590.00 and set an “outperform” rating for the company in a research report on Thursday, December 12th. Finally, Citigroup dropped their target price on Adobe from $616.00 to $590.00 and set a “neutral” rating on the stock in a report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $573.00.

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.