Ausdal Financial Partners Inc. Cuts Stock Position in Adobe Inc. (NASDAQ:ADBE)

Ausdal Financial Partners Inc. decreased its holdings in Adobe Inc. (NASDAQ:ADBE) by 6.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,769 shares of the software company’s stock after selling 120 shares during the period. Ausdal Financial Partners Inc.’s holdings in Adobe were worth $787,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. 1ST Source Bank grew its stake in Adobe by 0.7% in the 3rd quarter. 1ST Source Bank now owns 2,889 shares of the software company’s stock valued at $1,496,000 after acquiring an additional 20 shares during the period. Foster Group Inc. grew its stake in Adobe by 4.6% during the 4th quarter. Foster Group Inc. now owns 526 shares of the software company’s stock valued at $234,000 after acquiring an additional 23 shares in the last quarter. Atlantic Edge Private Wealth Management LLC grew its position in shares of Adobe by 0.4% in the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 5,406 shares of the software company’s stock valued at $2,404,000 after purchasing an additional 23 shares in the last quarter. Veery Capital LLC increased its stake in shares of Adobe by 1.9% in the 4th quarter. Veery Capital LLC now owns 1,315 shares of the software company’s stock worth $585,000 after acquiring an additional 24 shares during the last quarter. Finally, Cornerstone Wealth Management LLC increased its position in Adobe by 1.8% during the fourth quarter. Cornerstone Wealth Management LLC now owns 1,327 shares of the software company’s stock worth $590,000 after purchasing an additional 24 shares during the last quarter. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on ADBE shares. BNP Paribas upgraded Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 target price on the stock in a research report on Wednesday, January 15th. Barclays reduced their target price on shares of Adobe from $675.00 to $645.00 and set an “overweight” rating on the stock in a report on Thursday, December 12th. Redburn Atlantic started coverage on Adobe in a research note on Wednesday, February 19th. They issued a “neutral” rating for the company. Sanford C. Bernstein decreased their price objective on shares of Adobe from $644.00 to $587.00 and set an “outperform” rating for the company in a research report on Thursday, December 12th. Finally, Morgan Stanley lowered their price target on Adobe from $660.00 to $600.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Eleven investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Adobe currently has an average rating of “Moderate Buy” and a consensus target price of $533.85.

Adobe Trading Down 1.4 %

Shares of ADBE stock opened at $397.81 on Thursday. 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 Inc. has a 1-year low of $374.50 and a 1-year high of $587.75. The firm has a market capitalization of $173.21 billion, a PE ratio of 32.08, a P/E/G ratio of 2.15 and a beta of 1.37. The business’s fifty day moving average price is $433.31 and its 200 day moving average price is $472.23.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Wednesday, March 12th. The software company reported $5.08 earnings per share for the quarter, beating the consensus estimate of $4.97 by $0.11. The firm had revenue of $5.71 billion during the quarter, compared to the consensus estimate of $5.66 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. During the same period last year, the business posted $4.48 EPS. As a group, sell-side analysts forecast that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Insider Buying and Selling at Adobe

In other Adobe news, Director David A. Ricks bought 2,250 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The stock was purchased at an average cost of $443.98 per share, for a total transaction of $998,955.00. Following the completion of the purchase, 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Daniel Durn bought 1,300 shares of the firm’s stock in a transaction that occurred on Thursday, March 20th. The stock was bought at an average cost of $390.58 per share, for a total transaction of $507,754.00. Following the completion of the transaction, the chief financial officer now directly owns 29,876 shares of the company’s stock, valued at approximately $11,668,968.08. The trade was a 4.55 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 5,075 shares of company stock valued at $2,191,826 over the last quarter. Corporate insiders own 0.16% of the company’s stock.

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.