Arjuna Capital Sells 3,604 Shares of Adobe Inc. (NASDAQ:ADBE)

Arjuna Capital decreased its stake in Adobe Inc. (NASDAQ:ADBE) by 74.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,244 shares of the software company’s stock after selling 3,604 shares during the quarter. Arjuna Capital’s holdings in Adobe were worth $553,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in ADBE. Generali Investments CEE investicni spolecnost a.s. bought a new stake in Adobe during the 4th quarter worth approximately $3,726,000. Banco Santander S.A. lifted its holdings in shares of Adobe by 60.6% during the fourth quarter. Banco Santander S.A. now owns 99,004 shares of the software company’s stock worth $44,025,000 after purchasing an additional 37,356 shares during the period. Bank Julius Baer & Co. Ltd Zurich grew its stake in shares of Adobe by 9.3% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 817,065 shares of the software company’s stock worth $389,916,000 after purchasing an additional 69,639 shares during the last quarter. Machina Capital S.A.S. increased its holdings in Adobe by 278.5% in the fourth quarter. Machina Capital S.A.S. now owns 3,558 shares of the software company’s stock valued at $1,582,000 after purchasing an additional 2,618 shares during the period. Finally, Oak Hill Wealth Advisors LLC increased its holdings in Adobe by 200.0% in the fourth quarter. Oak Hill Wealth Advisors LLC now owns 900 shares of the software company’s stock valued at $400,000 after purchasing an additional 1,800 shares during the period. 81.79% of the stock is currently owned by institutional investors.

Adobe Price Performance

Shares of NASDAQ ADBE opened at $449.40 on Friday. The stock has a market cap of $195.62 billion, a price-to-earnings ratio of 36.24, a PEG ratio of 2.15 and a beta of 1.37. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07. Adobe Inc. has a fifty-two week low of $403.75 and a fifty-two week high of $587.75. The firm’s 50-day simple moving average is $439.56 and its 200 day simple moving average is $487.67.

Adobe (NASDAQ:ADBE) last posted its earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share for the quarter, beating analysts’ consensus estimates of $4.67 by $0.14. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The company had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.54 billion. During the same quarter last year, the company earned $3.52 earnings per share. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. As a group, research analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Analyst Ratings Changes

ADBE has been the topic of a number of analyst reports. BNP Paribas upgraded Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 price target on the stock in a research report on Wednesday, January 15th. Oppenheimer reduced their target price on Adobe from $625.00 to $600.00 and set an “outperform” rating on the stock in a report on Thursday, December 12th. Redburn Atlantic began coverage on shares of Adobe in a report on Wednesday, February 19th. They set a “neutral” rating for the company. Barclays reduced their price objective on shares of Adobe from $675.00 to $645.00 and set an “overweight” rating on the stock in a research note on Thursday, December 12th. Finally, Sanford C. Bernstein lowered their target price on shares of Adobe from $644.00 to $587.00 and set an “outperform” rating for the company in a research note on Thursday, December 12th. One investment 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. Based on data from MarketBeat, Adobe presently has an average rating of “Moderate Buy” and an average price target of $567.81.

Insiders Place Their Bets

In related news, EVP Scott Belsky sold 3,819 shares of the firm’s stock in a transaction dated 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 directly owns 18,334 shares of the company’s stock, valued at $7,888,020.16. This trade represents a 17.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director David A. Ricks acquired 2,250 shares of Adobe stock in a transaction on Tuesday, January 28th. The stock was purchased at an average cost 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 in the company, valued at $2,212,796.32. This represents a 82.30 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 5,075 shares of company stock valued at $2,191,826 in the last three months. 0.15% of the stock is currently 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.