Adobe Inc. (NASDAQ:ADBE) Shares Sold by Mitchell Mcleod Pugh & Williams Inc.

Mitchell Mcleod Pugh & Williams Inc. lessened its stake in Adobe Inc. (NASDAQ:ADBE) by 4.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,243 shares of the software company’s stock after selling 370 shares during the quarter. Adobe makes up about 0.7% of Mitchell Mcleod Pugh & Williams Inc.’s portfolio, making the stock its 28th biggest holding. Mitchell Mcleod Pugh & Williams Inc.’s holdings in Adobe were worth $3,221,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its position in shares of Adobe by 66,909.7% in the third quarter. International Assets Investment Management LLC now owns 1,378,390 shares of the software company’s stock valued at $713,703,000 after acquiring an additional 1,376,333 shares in the last quarter. FMR LLC raised its stake in Adobe by 8.8% in the 3rd quarter. FMR LLC now owns 9,690,163 shares of the software company’s stock valued at $5,017,373,000 after purchasing an additional 787,356 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in Adobe by 42.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,168,584 shares of the software company’s stock valued at $519,646,000 after purchasing an additional 347,536 shares in the last quarter. Seilern Investment Management Ltd acquired a new stake in Adobe during the 4th quarter worth $110,744,000. Finally, Erste Asset Management GmbH purchased a new stake in shares of Adobe during the third quarter worth $126,703,000. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ADBE has been the topic of a number of analyst reports. StockNews.com upgraded Adobe from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 18th. DA Davidson lowered their price target on shares of Adobe from $685.00 to $625.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Wells Fargo & Company dropped their price objective on shares of Adobe from $700.00 to $640.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Jefferies Financial Group reduced their target price on shares of Adobe from $700.00 to $650.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. Finally, JMP Securities reissued a “market perform” rating on shares of Adobe in a research note on Thursday, December 12th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $573.00.

Insider Activity

In other news, Director Amy Banse sold 606 shares of Adobe stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $550.00, for a total value of $333,300.00. Following the sale, the director now owns 32,929 shares of the company’s stock, valued at $18,110,950. The trade was a 1.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Scott Belsky sold 481 shares of the business’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $483.42, for a total transaction of $232,525.02. Following the transaction, the executive vice president now owns 18,128 shares in the company, valued at approximately $8,763,437.76. This trade represents a 2.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,763 shares of company stock valued at $893,665. Insiders own 0.15% of the company’s stock.

Adobe Trading Up 0.7 %

NASDAQ ADBE opened at $429.99 on Monday. The firm’s fifty day moving average price is $476.55 and its 200 day moving average price is $512.44. Adobe Inc. has a 12 month low of $403.75 and a 12 month high of $638.25. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.11. The company has a market capitalization of $189.28 billion, a price-to-earnings ratio of 34.68, a price-to-earnings-growth ratio of 1.97 and a beta of 1.31.

Adobe (NASDAQ:ADBE) last announced its earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.67 by $0.14. The firm had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.54 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The business’s revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the firm earned $3.52 EPS. On average, sell-side analysts expect that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

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.