Adobe Inc. (NASDAQ:ADBE) Shares Sold by Stifel Financial Corp

Stifel Financial Corp lessened its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 4.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 729,301 shares of the software company’s stock after selling 33,250 shares during the period. Stifel Financial Corp owned 0.17% of Adobe worth $324,304,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Virtu Financial LLC purchased a new stake in Adobe in the third quarter valued at $4,167,000. Morse Asset Management Inc increased its position in shares of Adobe by 32.6% during the third quarter. Morse Asset Management Inc now owns 8,494 shares of the software company’s stock worth $4,398,000 after purchasing an additional 2,088 shares in the last quarter. Te Ahumairangi Investment Management Ltd lifted its holdings in shares of Adobe by 12.9% in the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 4,455 shares of the software company’s stock valued at $2,294,000 after purchasing an additional 510 shares during the last quarter. Anchor Investment Management LLC boosted its position in shares of Adobe by 1.6% in the 3rd quarter. Anchor Investment Management LLC now owns 16,261 shares of the software company’s stock valued at $8,420,000 after purchasing an additional 255 shares during the period. Finally, Pine Valley Investments Ltd Liability Co grew its stake in Adobe by 13.7% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 25,432 shares of the software company’s stock worth $13,168,000 after buying an additional 3,071 shares during the last quarter. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Adobe Stock Up 1.3 %

Shares of NASDAQ ADBE opened at $348.80 on Monday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29. The firm has a 50-day moving average price of $403.54 and a 200 day moving average price of $449.67. Adobe Inc. has a 52 week low of $332.01 and a 52 week high of $587.75. The stock has a market capitalization of $148.66 billion, a price-to-earnings ratio of 28.13, a price-to-earnings-growth ratio of 2.15 and a beta of 1.49.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Wednesday, March 12th. The software company reported $5.08 EPS for the quarter, topping the consensus estimate of $4.97 by $0.11. The business had revenue of $5.71 billion for the quarter, compared to analyst estimates of $5.66 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. During the same quarter in the previous year, the company earned $4.48 EPS. Equities research analysts anticipate that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Insider Buying and Selling at Adobe

In related news, CAO Jillian Forusz sold 334 shares of Adobe 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 completion of the transaction, the chief accounting officer now directly owns 2,685 shares in the company, valued at $1,170,203.55. The trade was a 11.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Daniel Durn bought 1,300 shares of the stock in a transaction on Thursday, March 20th. The shares were bought at an average price of $390.58 per share, for a total transaction of $507,754.00. Following the acquisition, the chief financial officer now owns 29,876 shares in the company, valued at $11,668,968.08. The trade was a 4.55 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 5,075 shares of company stock valued at $2,191,826. Insiders own 0.16% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Morgan Stanley reduced their price objective on Adobe from $600.00 to $510.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. UBS Group reduced their price target on shares of Adobe from $410.00 to $380.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Mizuho lowered their price objective on shares of Adobe from $620.00 to $575.00 and set an “outperform” rating on the stock in a research report on Thursday, March 13th. BMO Capital Markets reduced their target price on shares of Adobe from $495.00 to $450.00 and set an “outperform” rating for the company in a report on Wednesday, April 16th. Finally, KeyCorp upgraded shares of Adobe from an “underweight” rating to a “sector weight” rating in a research note on Friday, March 21st. Eleven analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $513.27.

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.