SJS Investment Consulting Inc. Has $194,000 Stake in Adobe Inc. (NASDAQ:ADBE)

SJS Investment Consulting Inc. lowered its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 6.4% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 436 shares of the software company’s stock after selling 30 shares during the period. SJS Investment Consulting Inc.’s holdings in Adobe were worth $194,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in ADBE. Dark Forest Capital Management LP bought a new stake in Adobe in the second quarter valued at about $686,000. Mackenzie Financial Corp boosted its holdings in Adobe by 0.7% during the second quarter. Mackenzie Financial Corp now owns 67,062 shares of the software company’s stock valued at $37,256,000 after purchasing an additional 451 shares in the last quarter. Select Equity Group L.P. grew its stake in shares of Adobe by 154.3% in the 2nd quarter. Select Equity Group L.P. now owns 82,924 shares of the software company’s stock valued at $46,068,000 after purchasing an additional 50,321 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in shares of Adobe in the 2nd quarter worth approximately $44,002,000. Finally, Ninepoint Partners LP lifted its position in shares of Adobe by 7.6% during the 2nd quarter. Ninepoint Partners LP now owns 1,306 shares of the software company’s stock worth $726,000 after buying an additional 92 shares during the period. Institutional investors own 81.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. TD Cowen cut Adobe from a “buy” rating to a “hold” rating and lowered their price target for the company from $625.00 to $550.00 in a research report on Thursday, December 12th. Sanford C. Bernstein lowered their target price on shares of Adobe from $644.00 to $587.00 and set an “outperform” rating on the stock in a report on Thursday, December 12th. DA Davidson cut their price target on shares of Adobe from $685.00 to $625.00 and set a “buy” rating for the company in a report on Thursday, December 12th. BMO Capital Markets reduced their price target on shares of Adobe from $600.00 to $570.00 and set an “outperform” rating on the stock in a research report on Thursday, December 12th. Finally, Oppenheimer dropped their price objective on shares of Adobe from $625.00 to $600.00 and set an “outperform” rating for the company in a report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Adobe currently has an average rating of “Moderate Buy” and a consensus price target of $573.00.

Insiders Place Their Bets

In related news, CAO Jillian Forusz sold 676 shares of the stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $484.97, for a total transaction of $327,839.72. Following the completion of the sale, the chief accounting officer now directly owns 2,715 shares of the company’s stock, valued at approximately $1,316,693.55. This represents a 19.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Amy Banse sold 606 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The stock was 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 in the company, valued at $18,110,950. This trade represents a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.15% of the company’s stock.

Adobe Trading Down 0.4 %

NASDAQ ADBE opened at $435.38 on Friday. Adobe Inc. has a 12 month low of $403.75 and a 12 month high of $638.25. The stock has a 50-day simple moving average of $468.14 and a 200 day simple moving average of $508.06. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $189.52 billion, a PE ratio of 35.11, a P/E/G ratio of 2.12 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 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $5.54 billion. During the same period in the prior year, the business posted $3.52 EPS. Adobe’s revenue was up 11.1% on a year-over-year basis. Research analysts forecast 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.