Good Life Advisors LLC Sells 75 Shares of Adobe Inc. (NASDAQ:ADBE)

Good Life Advisors LLC lowered its position in Adobe Inc. (NASDAQ:ADBE) by 8.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 805 shares of the software company’s stock after selling 75 shares during the period. Good Life Advisors LLC’s holdings in Adobe were worth $358,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Swedbank AB increased its stake in shares of Adobe by 0.3% in the 3rd quarter. Swedbank AB now owns 1,196,175 shares of the software company’s stock worth $619,355,000 after acquiring an additional 3,739 shares in the last quarter. Sequoia Financial Advisors LLC boosted its stake in Adobe by 8.7% during the third quarter. Sequoia Financial Advisors LLC now owns 8,157 shares of the software company’s stock worth $4,223,000 after acquiring an additional 654 shares in the last quarter. Tempus Wealth Planning LLC grew its holdings in Adobe by 6.6% in the third quarter. Tempus Wealth Planning LLC now owns 402 shares of the software company’s stock worth $208,000 after purchasing an additional 25 shares during the period. Fulcrum Capital LLC increased its stake in shares of Adobe by 0.7% during the third quarter. Fulcrum Capital LLC now owns 24,710 shares of the software company’s stock valued at $12,794,000 after purchasing an additional 160 shares in the last quarter. Finally, McAdam LLC lifted its holdings in shares of Adobe by 31.4% during the third quarter. McAdam LLC now owns 498 shares of the software company’s stock valued at $258,000 after purchasing an additional 119 shares during the last quarter. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Insider Buying and Selling

In other news, Director Amy Banse sold 606 shares of the 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 of the company’s stock, valued at $18,110,950. This represents a 1.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Scott Belsky sold 3,819 shares of the firm’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $430.24, for a total transaction of $1,643,086.56. Following the sale, the executive vice president now owns 18,334 shares in the company, valued at $7,888,020.16. The trade was a 17.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,681 shares of company stock valued at $2,525,126. 0.15% of the stock is owned by company insiders.

Adobe Price Performance

NASDAQ ADBE opened at $454.69 on Friday. The company has a 50-day moving average price of $440.89 and a 200-day moving average price of $494.61. Adobe Inc. has a 52 week low of $403.75 and a 52 week high of $587.75. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $197.93 billion, a P/E ratio of 36.67, a PEG ratio of 2.25 and a beta of 1.31.

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

Analyst Upgrades and Downgrades

ADBE has been the topic of several recent research reports. JMP Securities restated a “market perform” rating on shares of Adobe in a research note on Thursday, December 12th. BNP Paribas raised Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 target price on the stock in a research note on Wednesday, January 15th. Barclays dropped their price target on shares of Adobe from $675.00 to $645.00 and set an “overweight” rating on the stock in a research note on Thursday, December 12th. Sanford C. Bernstein reduced their price objective on shares of Adobe from $644.00 to $587.00 and set an “outperform” rating for the company in a research note on Thursday, December 12th. Finally, Redburn Atlantic started coverage on shares of Adobe in a research note on Wednesday. They issued a “neutral” rating on the stock. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $570.88.

About Adobe

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.