TFB Advisors LLC Has $297,000 Holdings in Adobe Inc. (NASDAQ:ADBE)

TFB Advisors LLC trimmed its holdings in Adobe Inc. (NASDAQ:ADBE) by 5.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 669 shares of the software company’s stock after selling 40 shares during the period. TFB Advisors LLC’s holdings in Adobe were worth $297,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of ADBE. Capital Advisors Inc. OK grew its position in Adobe by 34.4% in the fourth quarter. Capital Advisors Inc. OK now owns 672 shares of the software company’s stock valued at $299,000 after purchasing an additional 172 shares in the last quarter. Certuity LLC boosted its stake in shares of Adobe by 25.3% during the 4th quarter. Certuity LLC now owns 4,467 shares of the software company’s stock worth $1,986,000 after buying an additional 902 shares during the last quarter. Community Financial Services Group LLC grew its holdings in shares of Adobe by 4.7% in the 4th quarter. Community Financial Services Group LLC now owns 11,948 shares of the software company’s stock valued at $5,313,000 after acquiring an additional 535 shares in the last quarter. Signet Investment Advisory Group Inc. increased its position in shares of Adobe by 3.5% in the fourth quarter. Signet Investment Advisory Group Inc. now owns 8,659 shares of the software company’s stock valued at $3,850,000 after acquiring an additional 296 shares during the last quarter. Finally, TCV Trust & Wealth Management Inc. raised its holdings in Adobe by 3.1% during the fourth quarter. TCV Trust & Wealth Management Inc. now owns 28,720 shares of the software company’s stock worth $12,771,000 after acquiring an additional 868 shares in the last quarter. 81.79% of the stock is currently owned by institutional investors.

Insider Activity at Adobe

In other news, CAO Jillian Forusz sold 334 shares of Adobe stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $435.83, for a total transaction of $145,567.22. Following the transaction, the chief accounting officer now owns 2,685 shares in the company, valued at approximately $1,170,203.55. The trade was a 11.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David A. Ricks purchased 2,250 shares of the business’s stock in a transaction dated Tuesday, January 28th. The shares were acquired at an average price of $443.98 per share, for a total transaction of $998,955.00. Following the acquisition, the director now owns 4,984 shares of the company’s stock, valued at $2,212,796.32. This trade represents a 82.30 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 5,681 shares of company stock worth $2,525,126 in the last quarter. 0.15% of the stock is owned by insiders.

Adobe Price Performance

Shares of NASDAQ:ADBE opened at $462.76 on Thursday. The firm has a 50 day simple moving average of $451.47 and a 200 day simple moving average of $497.93. The company has a market cap of $201.44 billion, a price-to-earnings ratio of 37.32, a PEG ratio of 2.11 and a beta of 1.31. Adobe Inc. has a one year low of $403.75 and a one year high of $610.33. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings data 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. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The business had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.54 billion. During the same quarter in the previous year, the company posted $3.52 EPS. Adobe’s quarterly revenue was up 11.1% compared to the same quarter last year. Research analysts predict that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have weighed in on ADBE. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $475.00 price target (down from $600.00) on shares of Adobe in a research note on Wednesday, January 8th. Barclays decreased their target price on shares of Adobe from $675.00 to $645.00 and set an “overweight” rating for the company in a research note on Thursday, December 12th. UBS Group dropped their price target on shares of Adobe from $525.00 to $475.00 and set a “neutral” rating on the stock in a research report on Friday, January 3rd. Royal Bank of Canada decreased their price objective 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. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a report on Thursday, December 12th. One equities 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 issued a strong buy rating to the company’s stock. According to MarketBeat.com, Adobe has an average rating of “Moderate Buy” and an average price target of $573.00.

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.