Adobe Inc. (NASDAQ:ADBE) Shares Sold by Roman Butler Fullerton & Co.

Roman Butler Fullerton & Co. decreased its holdings in Adobe Inc. (NASDAQ:ADBE) by 9.2% during the 4th quarter, HoldingsChannel reports. The fund owned 3,129 shares of the software company’s stock after selling 316 shares during the quarter. Roman Butler Fullerton & Co.’s holdings in Adobe were worth $1,372,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of ADBE. Legacy Investment Solutions LLC acquired a new stake in Adobe during the third quarter valued at approximately $26,000. Groupama Asset Managment raised its stake in Adobe by 28.8% during the third quarter. Groupama Asset Managment now owns 51,482 shares of the software company’s stock valued at $27,000 after buying an additional 11,522 shares in the last quarter. MidAtlantic Capital Management Inc. acquired a new stake in Adobe during the third quarter valued at approximately $30,000. True Wealth Design LLC raised its stake 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 in the last quarter. Finally, Decker Retirement Planning Inc. acquired a new stake in Adobe during the fourth quarter valued at approximately $31,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Wall Street Analyst Weigh In

ADBE has been the topic of several research reports. StockNews.com upgraded Adobe from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, January 28th. JMP Securities restated a “market perform” rating on shares of Adobe in a research note on Thursday, December 12th. Mizuho lowered their target price on Adobe from $640.00 to $620.00 and set an “outperform” rating for the company in a report on Thursday, December 12th. BMO Capital Markets lowered their target price on Adobe from $600.00 to $570.00 and set an “outperform” rating for the company in a report on Thursday, December 12th. Finally, Piper Sandler lowered their target price on Adobe from $635.00 to $600.00 and set an “overweight” rating for the company in a report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $573.00.

Adobe Stock Performance

Shares of NASDAQ ADBE opened at $460.16 on Friday. The stock has a fifty day moving average price of $448.41 and a two-hundred day moving average price of $497.41. 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 firm has a market cap of $200.31 billion, a P/E ratio of 37.11, a PEG ratio of 2.11 and a beta of 1.31. Adobe Inc. has a 1 year low of $403.75 and a 1 year high of $607.32.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share (EPS) 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 analyst estimates of $5.54 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period last year, the company posted $3.52 EPS. Research analysts forecast that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Insider Activity

In related news, Director David A. Ricks acquired 2,250 shares of the business’s stock in a transaction dated Tuesday, January 28th. The stock was bought at an average price of $443.98 per share, for a total transaction of $998,955.00. Following the transaction, the director now owns 4,984 shares of the company’s stock, valued at approximately $2,212,796.32. The trade was a 82.30 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Jillian Forusz sold 334 shares of the stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $435.83, for a total value of $145,567.22. Following the completion of the sale, the chief accounting officer now owns 2,685 shares of the company’s stock, valued at $1,170,203.55. The trade was a 11.06 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,681 shares of company stock worth $2,525,126. Insiders own 0.15% of the company’s stock.

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.