CHICAGO TRUST Co NA Decreases Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

CHICAGO TRUST Co NA decreased its holdings in Adobe Inc. (NASDAQ:ADBE) by 19.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,543 shares of the software company’s stock after selling 1,132 shares during the quarter. CHICAGO TRUST Co NA’s holdings in Adobe were worth $2,020,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Kieckhefer Group LLC purchased a new stake in shares of Adobe during the 4th quarter valued at about $44,000. Trust Co. of Toledo NA OH increased its position in shares of Adobe by 3.3% during the 4th quarter. Trust Co. of Toledo NA OH now owns 3,350 shares of the software company’s stock valued at $1,490,000 after purchasing an additional 106 shares during the last quarter. Fiduciary Alliance LLC increased its holdings in Adobe by 240.3% in the 4th quarter. Fiduciary Alliance LLC now owns 1,984 shares of the software company’s stock worth $882,000 after acquiring an additional 1,401 shares in the last quarter. Eastover Investment Advisors LLC raised its stake in Adobe by 1.7% during the 4th quarter. Eastover Investment Advisors LLC now owns 3,548 shares of the software company’s stock worth $1,578,000 after acquiring an additional 60 shares during the period. Finally, Czech National Bank raised its stake in Adobe by 5.7% during the 4th quarter. Czech National Bank now owns 95,445 shares of the software company’s stock worth $42,442,000 after acquiring an additional 5,120 shares during the period. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Insider Buying and Selling at Adobe

In other news, Director Amy Banse sold 606 shares of the business’s stock in a transaction dated Friday, December 6th. The stock was 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 in the company, valued at approximately $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 1,530 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $513.82, for a total value of $786,144.60. Following the sale, the executive vice president now owns 18,831 shares in the company, valued at $9,675,744.42. The trade was a 7.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,293 shares of company stock worth $1,679,809 over the last quarter. Insiders own 0.15% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on ADBE. Royal Bank of Canada decreased their target price on shares of Adobe from $610.00 to $590.00 and set an “outperform” rating on the stock in a research note on Thursday, December 12th. UBS Group cut their price objective on shares of Adobe from $525.00 to $475.00 and set a “neutral” rating for the company in a report on Friday, January 3rd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $475.00 price objective (down from $600.00) on shares of Adobe in a report on Wednesday, January 8th. TD Cowen lowered shares of Adobe from a “buy” rating to a “hold” rating and cut their price objective for the company from $625.00 to $550.00 in a report on Thursday, December 12th. Finally, BMO Capital Markets cut their price objective on shares of Adobe from $600.00 to $570.00 and set an “outperform” rating for the company in a report on Thursday, December 12th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Adobe has an average rating of “Moderate Buy” and an average target price of $575.85.

Adobe Stock Up 0.5 %

Shares of ADBE stock traded up $2.08 on Monday, hitting $408.00. The stock had a trading volume of 1,718,325 shares, compared to its average volume of 3,855,777. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.28. The business has a 50 day moving average price of $484.01 and a 200 day moving average price of $517.00. The company has a market cap of $179.60 billion, a PE ratio of 32.90, a P/E/G ratio of 2.51 and a beta of 1.31. Adobe Inc. has a one year low of $403.75 and a one year high of $638.25.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 earnings per share for the quarter, beating the consensus estimate of $4.67 by $0.14. Adobe had a return on equity of 45.22% and a net margin of 25.85%. The firm had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.54 billion. During the same period in the previous year, the company posted $3.52 earnings per share. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. Research analysts anticipate that Adobe Inc. will post 16.73 earnings per share for the current fiscal year.

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.