Adobe Inc. (NASDAQ:ADBE) Shares Sold by One Charles Private Wealth Services LLC

One Charles Private Wealth Services LLC lowered its position in Adobe Inc. (NASDAQ:ADBE) by 22.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 596 shares of the software company’s stock after selling 174 shares during the period. One Charles Private Wealth Services LLC’s holdings in Adobe were worth $265,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in ADBE. Legacy Investment Solutions LLC acquired a new stake in shares of Adobe in the 3rd quarter valued at approximately $26,000. Groupama Asset Managment raised its position in Adobe by 28.8% in the third quarter. Groupama Asset Managment now owns 51,482 shares of the software company’s stock worth $27,000 after acquiring an additional 11,522 shares in the last quarter. True Wealth Design LLC lifted its holdings in Adobe by 141.7% in the third quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock valued at $30,000 after acquiring an additional 34 shares during the period. Decker Retirement Planning Inc. purchased a new stake in shares of Adobe during the 4th quarter worth $31,000. Finally, Caitlin John LLC grew its stake in shares of Adobe by 171.4% during the 4th quarter. Caitlin John LLC now owns 76 shares of the software company’s stock worth $34,000 after purchasing an additional 48 shares during the period. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Adobe Stock Up 0.4 %

Shares of NASDAQ:ADBE opened at $389.61 on Friday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29. The firm has a market cap of $169.64 billion, a price-to-earnings ratio of 31.42, a PEG ratio of 2.15 and a beta of 1.37. The stock’s 50-day moving average price is $434.53 and its two-hundred day moving average price is $477.76. Adobe Inc. has a 12-month low of $374.50 and a 12-month high of $587.75.

Adobe (NASDAQ:ADBE) last released its earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.97 by $0.11. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The business had revenue of $5.71 billion for the quarter, compared to analysts’ expectations of $5.66 billion. During the same period last year, the company earned $4.48 earnings per share. On average, research analysts forecast that Adobe Inc. will post 16.65 EPS for the current year.

Insider Transactions at Adobe

In other Adobe news, Director David A. Ricks acquired 2,250 shares of the company’s stock in a transaction dated Tuesday, January 28th. The stock was bought at an average price of $443.98 per share, with a total value of $998,955.00. Following the completion of the transaction, the director now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction of $1,643,086.56. Following the transaction, the executive vice president now owns 18,334 shares in the company, valued at $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 three months. 0.16% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ADBE. Jefferies Financial Group reduced their price objective on shares of Adobe from $700.00 to $650.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. Redburn Atlantic initiated coverage on Adobe in a research note on Wednesday, February 19th. They set a “neutral” rating on the stock. Evercore ISI lowered their price target on Adobe from $650.00 to $550.00 and set an “outperform” rating on the stock in a report on Thursday, March 13th. Mizuho reduced their price objective on Adobe from $620.00 to $575.00 and set an “outperform” rating for the company in a report on Thursday, March 13th. Finally, Morgan Stanley lowered their target price on Adobe from $660.00 to $600.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $538.80.

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.