Personal CFO Solutions LLC Sells 46 Shares of Adobe Inc. (NASDAQ:ADBE)

Personal CFO Solutions LLC trimmed its stake in Adobe Inc. (NASDAQ:ADBE) by 0.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,796 shares of the software company’s stock after selling 46 shares during the period. Personal CFO Solutions LLC’s holdings in Adobe were worth $2,577,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Proficio Capital Partners LLC lifted its stake in shares of Adobe by 82,528.8% during the 4th quarter. Proficio Capital Partners LLC now owns 1,042,775 shares of the software company’s stock worth $463,701,000 after acquiring an additional 1,041,513 shares during the last quarter. FMR LLC lifted its stake in shares of Adobe by 8.8% during the 3rd quarter. FMR LLC now owns 9,690,163 shares of the software company’s stock worth $5,017,373,000 after acquiring an additional 787,356 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Adobe during the 4th quarter worth approximately $243,827,000. Assenagon Asset Management S.A. lifted its stake in shares of Adobe by 42.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,168,584 shares of the software company’s stock worth $519,646,000 after acquiring an additional 347,536 shares during the last quarter. Finally, Seilern Investment Management Ltd bought a new stake in shares of Adobe during the 4th quarter worth approximately $110,744,000. 81.79% of the stock is owned by institutional investors.

Adobe Stock Up 1.0 %

Shares of ADBE stock opened at $449.40 on Friday. Adobe Inc. has a 1-year low of $403.75 and a 1-year high of $587.75. The stock’s fifty day moving average price is $439.56 and its 200 day moving average price is $487.15. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. The company has a market cap of $195.62 billion, a price-to-earnings ratio of 36.24, a price-to-earnings-growth ratio of 2.15 and a beta of 1.37.

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 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 for the quarter, compared to the consensus estimate of $5.54 billion. During the same period in the previous year, the business earned $3.52 EPS. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. On average, research analysts expect that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on ADBE shares. Barclays decreased their price target on Adobe from $675.00 to $645.00 and set an “overweight” rating for the company in a research note on Thursday, December 12th. Bank of America decreased their price target on Adobe from $640.00 to $605.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. Redburn Atlantic assumed coverage on Adobe in a research note on Wednesday, February 19th. They set a “neutral” rating for the company. BMO Capital Markets decreased their target price on Adobe from $570.00 to $515.00 and set an “outperform” rating for the company in a research report on Wednesday, February 19th. Finally, Oppenheimer decreased their target price on Adobe from $625.00 to $600.00 and set an “outperform” rating for the company in a research report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Adobe has a consensus rating of “Moderate Buy” and an average target price of $567.81.

Insider Buying and Selling

In other Adobe news, CAO Jillian Forusz sold 334 shares of the business’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total transaction of $145,567.22. Following the sale, the chief accounting officer now owns 2,685 shares in the company, valued at approximately $1,170,203.55. The trade was a 11.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Scott Belsky sold 3,819 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now owns 18,334 shares in the company, valued at approximately $7,888,020.16. The trade was a 17.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,075 shares of company stock worth $2,191,826 in the last ninety days. 0.15% of the stock is owned by insiders.

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.