Adobe Inc. (NASDAQ:ADBE) Shares Sold by Ossiam

Ossiam decreased its position in Adobe Inc. (NASDAQ:ADBE) by 1.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 184,309 shares of the software company’s stock after selling 3,172 shares during the period. Adobe makes up approximately 2.7% of Ossiam’s investment portfolio, making the stock its 13th largest position. Ossiam’s holdings in Adobe were worth $81,959,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the company. Decker Retirement Planning Inc. bought a new stake in Adobe during the 4th quarter valued at $31,000. Summit Securities Group LLC bought a new position in Adobe in the 4th quarter valued at about $31,000. Caitlin John LLC increased its stake in Adobe by 171.4% during the 4th quarter. Caitlin John LLC now owns 76 shares of the software company’s stock valued at $34,000 after buying an additional 48 shares during the period. Avion Wealth lifted its stake in shares of Adobe by 112.2% in the 4th quarter. Avion Wealth now owns 87 shares of the software company’s stock worth $38,000 after acquiring an additional 46 shares during the period. Finally, Mascoma Wealth Management LLC increased its stake in shares of Adobe by 142.9% during the fourth quarter. Mascoma Wealth Management LLC now owns 85 shares of the software company’s stock valued at $38,000 after acquiring an additional 50 shares during the period. Institutional investors and hedge funds own 81.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ADBE. Morgan Stanley decreased their price target on Adobe from $600.00 to $510.00 and set an “overweight” rating for the company in a research note on Wednesday. BNP Paribas raised shares of Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 price target for the company in a report on Wednesday, January 15th. Royal Bank of Canada cut their target price on shares of Adobe from $530.00 to $480.00 and set an “outperform” rating for the company in a research note on Monday, April 14th. UBS Group decreased their price target on shares of Adobe from $410.00 to $380.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Finally, BMO Capital Markets reduced their price objective on Adobe from $495.00 to $450.00 and set an “outperform” rating for the company in a research note on Wednesday. Eleven investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $513.27.

Insider Buying and Selling at Adobe

In other Adobe news, CAO Jillian Forusz sold 334 shares of the stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total transaction of $145,567.22. Following the transaction, the chief accounting officer now owns 2,685 shares in the company, valued at $1,170,203.55. This trade represents a 11.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director David A. Ricks acquired 2,250 shares of Adobe stock in a transaction dated Tuesday, January 28th. The stock was purchased at an average price of $443.98 per share, with a total value of $998,955.00. Following the completion of the purchase, the director now directly owns 4,984 shares of the company’s stock, valued at $2,212,796.32. The trade was a 82.30 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 5,075 shares of company stock worth $2,191,826 over the last three months. Corporate insiders own 0.16% of the company’s stock.

Adobe Stock Up 1.3 %

Shares of Adobe stock opened at $348.80 on Friday. The firm has a market cap of $148.66 billion, a price-to-earnings ratio of 28.13, a P/E/G ratio of 2.15 and a beta of 1.49. The stock has a 50-day simple moving average of $403.54 and a 200-day simple moving average of $450.43. Adobe Inc. has a 52-week low of $332.01 and a 52-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, March 12th. The software company reported $5.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.97 by $0.11. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The firm had revenue of $5.71 billion during the quarter, compared to analysts’ expectations of $5.66 billion. During the same period in the previous year, the company earned $4.48 earnings per share. On average, equities research analysts expect that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

About Adobe

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.