Bailard Inc. Sells 5,067 Shares of Adobe Inc. (NASDAQ:ADBE)

Bailard Inc. cut its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 9.8% during the 4th quarter, Holdings Channel reports. The firm owned 46,642 shares of the software company’s stock after selling 5,067 shares during the period. Bailard Inc.’s holdings in Adobe were worth $20,741,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in ADBE. Swedbank AB increased its holdings in shares of Adobe by 0.3% during the third quarter. Swedbank AB now owns 1,196,175 shares of the software company’s stock worth $619,355,000 after purchasing an additional 3,739 shares during the period. EMC Capital Management boosted its position in shares of Adobe by 289.3% during the 3rd quarter. EMC Capital Management now owns 1,168 shares of the software company’s stock worth $605,000 after acquiring an additional 868 shares in the last quarter. Dash Acquisitions Inc. boosted its position in shares of Adobe by 7.2% during the 3rd quarter. Dash Acquisitions Inc. now owns 25,085 shares of the software company’s stock worth $12,134,000 after acquiring an additional 1,688 shares in the last quarter. Farther Finance Advisors LLC boosted its position in shares of Adobe by 5.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 8,629 shares of the software company’s stock worth $4,467,000 after acquiring an additional 468 shares in the last quarter. Finally, Chicago Partners Investment Group LLC boosted its position in shares of Adobe by 3.3% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 2,902 shares of the software company’s stock worth $1,408,000 after acquiring an additional 93 shares in the last quarter. 81.79% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Adobe news, EVP Scott Belsky sold 3,819 shares of Adobe stock in a transaction on Monday, January 27th. The shares were sold at an average price of $430.24, for a total value of $1,643,086.56. Following the completion of the sale, the executive vice president now directly owns 18,334 shares of the company’s stock, valued at approximately $7,888,020.16. The trade was a 17.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Amy Banse sold 606 shares of Adobe stock in a transaction on Friday, December 6th. The shares were sold at an average price of $550.00, for a total transaction of $333,300.00. Following the completion of the sale, the director now directly owns 32,929 shares of the company’s stock, valued at approximately $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. Insiders sold 5,681 shares of company stock valued at $2,525,126 over the last quarter. Insiders own 0.15% of the company’s stock.

Adobe Price Performance

Shares of NASDAQ ADBE opened at $438.49 on Friday. Adobe Inc. has a twelve month low of $403.75 and a twelve month high of $587.75. The firm has a fifty day simple moving average of $439.71 and a 200 day simple moving average of $490.93. The company has a market capitalization of $190.87 billion, a PE ratio of 35.36, a P/E/G ratio of 2.15 and a beta of 1.31. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29.

Adobe (NASDAQ:ADBE) last announced 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. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The business had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.54 billion. During the same quarter last year, the firm earned $3.52 earnings per share. Adobe’s quarterly revenue was up 11.1% on a year-over-year basis. On average, sell-side analysts forecast that Adobe Inc. will post 16.65 EPS for the current year.

Wall Street Analysts Forecast Growth

ADBE has been the topic of several analyst reports. BMO Capital Markets reduced their price target on shares of Adobe from $570.00 to $515.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. Wells Fargo & Company reduced their price target on shares of Adobe from $700.00 to $640.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Barclays reduced their price target on shares of Adobe from $675.00 to $645.00 and set an “overweight” rating on the stock in a research report on Thursday, December 12th. Mizuho cut their target price on shares of Adobe from $640.00 to $620.00 and set an “outperform” rating on the stock in a research report on Thursday, December 12th. Finally, Jefferies Financial Group cut their target price on shares of Adobe from $700.00 to $650.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. One research 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’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $570.88.

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.