Adobe Inc. (NASDAQ:ADBE) Shares Sold by O Brien Greene & Co. Inc

O Brien Greene & Co. Inc lessened its position in shares of Adobe Inc. (NASDAQ:ADBE) by 1.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,559 shares of the software company’s stock after selling 183 shares during the period. Adobe comprises 1.5% of O Brien Greene & Co. Inc’s portfolio, making the stock its 27th largest position. O Brien Greene & Co. Inc’s holdings in Adobe were worth $4,695,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in ADBE. Dash Acquisitions Inc. raised its position in shares of Adobe by 5.2% during the 4th quarter. Dash Acquisitions Inc. now owns 26,397 shares of the software company’s stock worth $11,690,000 after buying an additional 1,312 shares in the last quarter. Citizens National Bank Trust Department increased its position in shares of Adobe by 5.7% in the fourth quarter. Citizens National Bank Trust Department now owns 5,905 shares of the software company’s stock worth $2,626,000 after acquiring an additional 320 shares in the last quarter. Jordan Park Group LLC lifted its holdings in shares of Adobe by 18.3% in the fourth quarter. Jordan Park Group LLC now owns 517 shares of the software company’s stock valued at $230,000 after purchasing an additional 80 shares in the last quarter. Concurrent Investment Advisors LLC boosted its position in Adobe by 2.2% during the 4th quarter. Concurrent Investment Advisors LLC now owns 4,243 shares of the software company’s stock worth $1,887,000 after acquiring an additional 90 shares during the period. Finally, Handelsbanken Fonder AB grew its position in Adobe by 6.1% during the fourth quarter. Handelsbanken Fonder AB now owns 170,531 shares of the software company’s stock valued at $75,832,000 after purchasing an additional 9,857 shares in the last quarter. 81.79% of the stock is currently owned by institutional investors.

Adobe Price Performance

Adobe stock opened at $456.99 on Thursday. Adobe Inc. has a one year low of $403.75 and a one year high of $587.75. The firm has a market capitalization of $198.93 billion, a P/E ratio of 36.85, a PEG ratio of 2.23 and a beta of 1.31. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. The business has a fifty day moving average price of $441.28 and a 200-day moving average price of $494.89.

Adobe (NASDAQ:ADBE) last released its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, topping analysts’ consensus estimates of $4.67 by $0.14. The business had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.54 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.52 EPS. As a group, equities research analysts forecast that Adobe Inc. will post 16.65 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ADBE. Redburn Atlantic started coverage on shares of Adobe in a research report on Wednesday. They set a “neutral” rating on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $590.00 price target on shares of Adobe in a report on Thursday, February 13th. Mizuho reduced their target price on Adobe from $640.00 to $620.00 and set an “outperform” rating for the company in a research report on Thursday, December 12th. Sanford C. Bernstein dropped their target price on Adobe from $644.00 to $587.00 and set an “outperform” rating for the company in a report on Thursday, December 12th. Finally, Piper Sandler cut their price target on shares of Adobe from $635.00 to $600.00 and set an “overweight” rating for the company in a report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Adobe presently has a consensus rating of “Moderate Buy” and a consensus target price of $570.88.

Insiders Place Their Bets

In other news, Director David A. Ricks purchased 2,250 shares of the company’s stock in a transaction dated Tuesday, January 28th. The shares were purchased at an average cost of $443.98 per share, for a total transaction of $998,955.00. Following the purchase, the director now directly owns 4,984 shares in the company, valued at approximately $2,212,796.32. This represents a 82.30 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Amy Banse sold 606 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $550.00, for a total transaction of $333,300.00. Following the sale, the director now owns 32,929 shares of the company’s stock, valued at $18,110,950. This trade represents a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,681 shares of company stock valued at $2,525,126 in the last ninety days. Company insiders own 0.15% of the company’s stock.

Adobe Company 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.