Great Diamond Partners LLC Has $315,000 Stock Position in Adobe Inc. (NASDAQ:ADBE)

Great Diamond Partners LLC reduced its holdings in Adobe Inc. (NASDAQ:ADBE) by 5.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 709 shares of the software company’s stock after selling 37 shares during the period. Great Diamond Partners LLC’s holdings in Adobe were worth $315,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Piscataqua Savings Bank increased its stake in shares of Adobe by 226.7% in the third quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock worth $25,000 after acquiring an additional 34 shares during the last quarter. Legacy Investment Solutions LLC acquired a new position in Adobe in the 3rd quarter worth about $26,000. Groupama Asset Managment raised its stake in shares of Adobe by 28.8% during the 3rd quarter. Groupama Asset Managment now owns 51,482 shares of the software company’s stock worth $27,000 after purchasing an additional 11,522 shares in the last quarter. MidAtlantic Capital Management Inc. acquired a new stake in shares of Adobe during the 3rd quarter valued at about $30,000. Finally, True Wealth Design LLC grew its stake in shares of Adobe by 141.7% in the 3rd quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock valued at $30,000 after buying an additional 34 shares in the last quarter. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CAO Jillian Forusz sold 334 shares of the stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total value of $145,567.22. Following the completion of the transaction, the chief accounting officer now directly owns 2,685 shares of the company’s stock, valued at approximately $1,170,203.55. This represents a 11.06 % decrease in their position. The sale was disclosed in a 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 on Friday, December 6th. The shares were sold at an average price of $550.00, for a total value of $333,300.00. Following the completion of the sale, the director now directly owns 32,929 shares in the company, valued at approximately $18,110,950. This represents a 1.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,681 shares of company stock valued at $2,525,126 over the last quarter. Corporate insiders own 0.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ADBE. Royal Bank of Canada reduced their target price on shares of Adobe from $610.00 to $590.00 and set an “outperform” rating for the company in a research note on Thursday, December 12th. UBS Group reduced their price objective on shares of Adobe from $525.00 to $475.00 and set a “neutral” rating for the company in a research note on Friday, January 3rd. Sanford C. Bernstein lowered their target price on shares of Adobe from $644.00 to $587.00 and set an “outperform” rating on the stock in a research report on Thursday, December 12th. Citigroup reduced their price target on Adobe from $616.00 to $590.00 and set a “neutral” rating for the company in a research report on Monday, December 9th. Finally, Stifel Nicolaus lowered their price objective on Adobe from $650.00 to $600.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Adobe currently has an average rating of “Moderate Buy” and a consensus price target of $573.00.

Adobe Price Performance

Shares of NASDAQ:ADBE opened at $437.45 on Friday. The business’s 50 day moving average is $463.46 and its 200-day moving average is $504.74. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $190.42 billion, a PE ratio of 35.28, a PEG ratio of 2.14 and a beta of 1.31. Adobe Inc. has a 1-year low of $403.75 and a 1-year high of $638.25.

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