Montag A & Associates Inc. Sells 1,146 Shares of Adobe Inc. (NASDAQ:ADBE)

Montag A & Associates Inc. lowered its position in shares of Adobe Inc. (NASDAQ:ADBE) by 3.2% in the fourth quarter, Holdings Channel reports. The firm owned 34,970 shares of the software company’s stock after selling 1,146 shares during the period. Montag A & Associates Inc.’s holdings in Adobe were worth $15,550,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. International Assets Investment Management LLC raised its holdings in shares of Adobe by 66,909.7% during the third quarter. International Assets Investment Management LLC now owns 1,378,390 shares of the software company’s stock worth $713,703,000 after acquiring an additional 1,376,333 shares during the period. FMR LLC lifted its holdings in shares of Adobe by 8.8% in the third quarter. FMR LLC now owns 9,690,163 shares of the software company’s stock valued at $5,017,373,000 after purchasing an additional 787,356 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Adobe by 42.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,168,584 shares of the software company’s stock valued at $519,646,000 after purchasing an additional 347,536 shares in the last quarter. Seilern Investment Management Ltd bought a new position in shares of Adobe during the fourth quarter worth about $110,744,000. Finally, Erste Asset Management GmbH bought a new position in shares of Adobe during the third quarter worth about $126,703,000. Institutional investors own 81.79% of the company’s stock.

Analyst Ratings Changes

ADBE has been the subject of several research reports. Stifel Nicolaus decreased their price target on shares of Adobe from $650.00 to $600.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. Oppenheimer cut their price target on shares of Adobe from $625.00 to $600.00 and set an “outperform” rating on the stock in a research report on Thursday, December 12th. DA Davidson decreased their price objective on Adobe from $685.00 to $625.00 and set a “buy” rating for the company in a report on Thursday, December 12th. Royal Bank of Canada reiterated an “outperform” rating and set a $590.00 target price on shares of Adobe in a report on Thursday. Finally, Jefferies Financial Group lowered their price target on Adobe from $700.00 to $650.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Adobe presently has a consensus rating of “Moderate Buy” and a consensus target price of $573.00.

Adobe Stock Up 0.2 %

ADBE opened at $460.16 on Friday. The stock has a fifty day moving average of $446.56 and a 200-day moving average of $496.88. The company has a market capitalization of $200.31 billion, a P/E ratio of 37.11, a P/E/G ratio of 2.11 and a beta of 1.31. Adobe Inc. has a fifty-two week low of $403.75 and a fifty-two week high of $607.32. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07.

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

Insiders Place Their Bets

In other Adobe news, Director Amy Banse sold 606 shares of the stock in a transaction dated 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 directly owns 32,929 shares in the company, valued at $18,110,950. This represents a 1.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 of the company’s stock, valued at $9,687,063.84. The trade was a 4.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,681 shares of company stock worth $2,525,126 in the last 90 days. Company insiders own 0.15% of the company’s stock.

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.