Farmers Trust Co. Sells 138 Shares of Adobe Inc. (NASDAQ:ADBE)

Farmers Trust Co. decreased its holdings in Adobe Inc. (NASDAQ:ADBE) by 1.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,409 shares of the software company’s stock after selling 138 shares during the period. Farmers Trust Co.’s holdings in Adobe were worth $5,073,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of ADBE. Commonwealth Financial Services LLC lifted its holdings in shares of Adobe by 3.7% in the second quarter. Commonwealth Financial Services LLC now owns 537 shares of the software company’s stock worth $309,000 after buying an additional 19 shares in the last quarter. Onyx Bridge Wealth Group LLC lifted its position in shares of Adobe by 4.0% in the third quarter. Onyx Bridge Wealth Group LLC now owns 526 shares of the software company’s stock worth $272,000 after buying an additional 20 shares in the last quarter. Connable Office Inc. boosted its stake in Adobe by 0.5% during the third quarter. Connable Office Inc. now owns 3,732 shares of the software company’s stock valued at $1,932,000 after buying an additional 20 shares during the last quarter. 1ST Source Bank increased its stake in Adobe by 0.7% in the 3rd quarter. 1ST Source Bank now owns 2,889 shares of the software company’s stock worth $1,496,000 after acquiring an additional 20 shares during the last quarter. Finally, Sfmg LLC boosted its position in shares of Adobe by 3.1% during the 2nd quarter. Sfmg LLC now owns 708 shares of the software company’s stock valued at $393,000 after acquiring an additional 21 shares during the last quarter. Institutional investors own 81.79% of the company’s stock.

Adobe Price Performance

NASDAQ ADBE traded down $2.61 on Wednesday, hitting $420.02. The company had a trading volume of 2,749,501 shares, compared to its average volume of 3,793,845. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.11 and a quick ratio of 1.11. Adobe Inc. has a 12-month low of $415.51 and a 12-month high of $638.25. The company has a market capitalization of $184.89 billion, a PE ratio of 33.87, a PEG ratio of 2.51 and a beta of 1.31. The company’s fifty day moving average price is $488.06 and its 200-day moving average price is $519.35.

Adobe (NASDAQ:ADBE) last released its earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share for the quarter, topping analysts’ consensus estimates of $4.67 by $0.14. The business had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.54 billion. Adobe had a net margin of 25.85% and a return on equity of 45.22%. The business’s revenue was up 11.1% on a year-over-year basis. During the same period last year, the company posted $3.52 EPS. As a group, analysts predict that Adobe Inc. will post 16.73 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $475.00 target price (down previously from $600.00) on shares of Adobe in a report on Wednesday. JMP Securities reissued a “market perform” rating on shares of Adobe in a research report on Thursday, December 12th. Jefferies Financial Group cut their target price on Adobe from $700.00 to $650.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. Royal Bank of Canada decreased their price target on Adobe from $610.00 to $590.00 and set an “outperform” rating for the company in a research note on Thursday, December 12th. Finally, TD Cowen lowered Adobe from a “buy” rating to a “hold” rating and reduced their target price for the stock from $625.00 to $550.00 in a research note on Thursday, December 12th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $575.85.

Insider Activity at Adobe

In other Adobe news, EVP Scott Belsky sold 1,530 shares of Adobe stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $513.82, for a total value of $786,144.60. Following the transaction, the executive vice president now directly owns 18,831 shares in the company, valued at approximately $9,675,744.42. The trade was a 7.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Amy Banse sold 606 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The shares were 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. In the last 90 days, insiders have sold 3,293 shares of company stock worth $1,679,809. 0.15% of the stock is currently owned by company insiders.

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.