Adobe Inc. (NASDAQ:ADBE) Holdings Trimmed by Paradigm Asset Management Co. LLC

Paradigm Asset Management Co. LLC reduced its position in shares of Adobe Inc. (NASDAQ:ADBE) by 46.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 350 shares of the software company’s stock after selling 300 shares during the period. Paradigm Asset Management Co. LLC’s holdings in Adobe were worth $156,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ADBE. Swedbank AB increased its holdings in shares of Adobe by 0.3% in the third quarter. Swedbank AB now owns 1,196,175 shares of the software company’s stock valued at $619,355,000 after buying an additional 3,739 shares in the last quarter. McAdam LLC grew its holdings in shares of Adobe by 31.4% in the 3rd quarter. McAdam LLC now owns 498 shares of the software company’s stock worth $258,000 after acquiring an additional 119 shares during the last quarter. YHB Investment Advisors Inc. raised its position in shares of Adobe by 25.8% during the third quarter. YHB Investment Advisors Inc. now owns 1,200 shares of the software company’s stock worth $621,000 after purchasing an additional 246 shares during the period. Romano Brothers AND Company raised its position in shares of Adobe by 10.8% during the third quarter. Romano Brothers AND Company now owns 1,385 shares of the software company’s stock worth $717,000 after purchasing an additional 135 shares during the period. Finally, Mcdaniel Terry & Co. lifted its holdings in shares of Adobe by 2.5% during the third quarter. Mcdaniel Terry & Co. now owns 37,352 shares of the software company’s stock valued at $19,340,000 after purchasing an additional 924 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Adobe news, EVP Scott Belsky sold 3,819 shares of the business’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $430.24, for a total transaction of $1,643,086.56. Following the completion of the transaction, the executive vice president now owns 18,334 shares of the company’s stock, valued at $7,888,020.16. The trade was a 17.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Amy Banse sold 606 shares of the firm’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $550.00, for a total value of $333,300.00. Following the completion of the sale, the director now directly owns 32,929 shares in the company, 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 three months, insiders sold 5,681 shares of company stock valued at $2,525,126. Company insiders own 0.15% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on ADBE shares. Bank of America dropped their price target on Adobe from $640.00 to $605.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. Stifel Nicolaus cut their price target on shares of Adobe from $650.00 to $600.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Sanford C. Bernstein decreased their price objective on shares of Adobe from $644.00 to $587.00 and set an “outperform” rating for the company in a research note on Thursday, December 12th. Citigroup lowered their price objective on shares of Adobe from $616.00 to $590.00 and set a “neutral” rating on the stock in a research report on Monday, December 9th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $475.00 target price (down previously from $600.00) on shares of Adobe in a report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $570.88.

Adobe Price Performance

NASDAQ ADBE opened at $444.32 on Friday. The firm has a market cap of $193.41 billion, a P/E ratio of 35.83, a price-to-earnings-growth ratio of 2.21 and a beta of 1.31. The stock’s 50-day moving average is $440.46 and its two-hundred day moving average is $494.16. Adobe Inc. has a fifty-two week low of $403.75 and a fifty-two week high of $587.75. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07.

Adobe (NASDAQ:ADBE) last posted its earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share 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 analyst estimates of $5.54 billion. During the same period in the previous year, the company earned $3.52 EPS. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. On average, analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Adobe 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.