Bryn Mawr Capital Management LLC Decreases Stock Position in Adobe Inc. (NASDAQ:ADBE)

Bryn Mawr Capital Management LLC trimmed its position in shares of Adobe Inc. (NASDAQ:ADBE) by 2.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,841 shares of the software company’s stock after selling 154 shares during the quarter. Bryn Mawr Capital Management LLC’s holdings in Adobe were worth $3,042,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Swedbank AB lifted its position in shares of Adobe by 0.3% during the third quarter. Swedbank AB now owns 1,196,175 shares of the software company’s stock worth $619,355,000 after purchasing an additional 3,739 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its holdings in Adobe by 13.0% during the 3rd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 1,392 shares of the software company’s stock valued at $721,000 after buying an additional 160 shares in the last quarter. Inscription Capital LLC boosted its position in Adobe by 37.6% in the 3rd quarter. Inscription Capital LLC now owns 531 shares of the software company’s stock valued at $275,000 after buying an additional 145 shares during the period. Patriot Financial Group Insurance Agency LLC grew its stake in Adobe by 12.8% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 2,189 shares of the software company’s stock worth $1,133,000 after acquiring an additional 248 shares in the last quarter. Finally, Orrstown Financial Services Inc. increased its position in shares of Adobe by 37.4% during the third quarter. Orrstown Financial Services Inc. now owns 3,108 shares of the software company’s stock worth $1,609,000 after acquiring an additional 846 shares during the period. Institutional investors own 81.79% of the company’s stock.

Insider Buying and Selling

In other Adobe news, Director David A. Ricks bought 2,250 shares of the firm’s stock in a transaction dated Tuesday, January 28th. The shares were purchased at an average price of $443.98 per share, for a total transaction of $998,955.00. Following the transaction, the director now directly owns 4,984 shares of the company’s stock, valued at approximately $2,212,796.32. This represents a 82.30 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Scott Belsky sold 3,819 shares of the company’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $430.24, for a total transaction of $1,643,086.56. Following the transaction, the executive vice president now owns 18,334 shares of the company’s stock, valued at $7,888,020.16. This represents a 17.24 % 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 valued at $2,525,126 over the last ninety days. Company insiders own 0.15% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. TD Cowen lowered Adobe from a “buy” rating to a “hold” rating and lowered their price target for the company from $625.00 to $550.00 in a report on Thursday, December 12th. UBS Group lowered their target price on Adobe from $525.00 to $475.00 and set a “neutral” rating for the company in a report on Friday, January 3rd. Citigroup cut their price target on Adobe from $616.00 to $590.00 and set a “neutral” rating on the stock in a research note on Monday, December 9th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $475.00 price objective (down from $600.00) on shares of Adobe in a research note on Wednesday, January 8th. Finally, Redburn Atlantic initiated coverage on shares of Adobe in a report on Wednesday, February 19th. They set a “neutral” rating on the stock. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Adobe has an average rating of “Moderate Buy” and a consensus price target of $570.88.

Adobe Stock Performance

ADBE opened at $443.41 on Wednesday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29. Adobe Inc. has a 12-month low of $403.75 and a 12-month high of $587.75. The firm has a 50 day moving average of $439.88 and a two-hundred day moving average of $492.62. The firm has a market capitalization of $193.02 billion, a PE ratio of 35.76, a P/E/G ratio of 2.15 and a beta of 1.31.

Adobe (NASDAQ:ADBE) last posted its earnings results 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. The company 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%. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the firm posted $3.52 earnings per share. On average, analysts anticipate that Adobe Inc. will post 16.65 EPS 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.