Adobe Inc. (NASDAQ:ADBE) Position Trimmed by Yousif Capital Management LLC

Yousif Capital Management LLC trimmed its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 5.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 54,574 shares of the software company’s stock after selling 3,023 shares during the period. Yousif Capital Management LLC’s holdings in Adobe were worth $24,268,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Old North State Wealth Management LLC boosted its stake in Adobe by 11.2% in the 4th quarter. Old North State Wealth Management LLC now owns 1,339 shares of the software company’s stock worth $595,000 after purchasing an additional 135 shares during the period. Avitas Wealth Management LLC boosted its stake in Adobe by 0.6% in the 4th quarter. Avitas Wealth Management LLC now owns 6,229 shares of the software company’s stock worth $2,770,000 after purchasing an additional 39 shares during the period. Redwood Wealth Management Group LLC boosted its stake in Adobe by 25.6% in the 4th quarter. Redwood Wealth Management Group LLC now owns 1,056 shares of the software company’s stock worth $470,000 after purchasing an additional 215 shares during the period. Ninety One UK Ltd boosted its stake in Adobe by 36.1% in the 4th quarter. Ninety One UK Ltd now owns 84,957 shares of the software company’s stock worth $37,779,000 after purchasing an additional 22,542 shares during the period. Finally, RFG Holdings Inc. boosted its stake in Adobe by 21.9% in the 4th quarter. RFG Holdings Inc. now owns 1,434 shares of the software company’s stock worth $638,000 after purchasing an additional 258 shares during the period. 81.79% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Scott Belsky sold 922 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $437.28, for a total transaction of $403,172.16. Following the completion of the transaction, the executive vice president now owns 22,153 shares in the company, valued at approximately $9,687,063.84. The trade was a 4.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David A. Ricks purchased 2,250 shares of Adobe stock in a transaction dated Tuesday, January 28th. The stock was bought at an average price of $443.98 per share, with a total value of $998,955.00. Following the acquisition, the director now directly owns 4,984 shares of the company’s stock, valued at approximately $2,212,796.32. This trade represents a 82.30 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 5,681 shares of company stock valued at $2,525,126 over the last ninety days. Insiders own 0.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ADBE. Royal Bank of Canada cut their target price on shares of Adobe from $610.00 to $590.00 and set an “outperform” rating for the company in a research report on Thursday, December 12th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $475.00 target price (down previously from $600.00) on shares of Adobe in a research report on Wednesday, January 8th. Stifel Nicolaus cut their target price on shares of Adobe from $650.00 to $600.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. StockNews.com upgraded shares of Adobe from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, January 28th. Finally, DA Davidson cut their target price on shares of Adobe from $685.00 to $625.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $573.00.

Adobe Trading Up 0.4 %

Shares of NASDAQ ADBE opened at $440.23 on Wednesday. Adobe Inc. has a 1-year low of $403.75 and a 1-year high of $634.59. The company has a market cap of $191.63 billion, a PE ratio of 35.50, a P/E/G ratio of 2.12 and a beta of 1.31. 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 company has a 50-day moving average of $460.36 and a two-hundred day moving average of $502.16.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share 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 the consensus estimate of $5.54 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. Adobe’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.52 earnings per share. As a group, equities 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.