B. Metzler seel. Sohn & Co. AG Sells 8,342 Shares of Adobe Inc. (NASDAQ:ADBE)

B. Metzler seel. Sohn & Co. AG cut its position in shares of Adobe Inc. (NASDAQ:ADBE) by 16.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 41,469 shares of the software company’s stock after selling 8,342 shares during the period. B. Metzler seel. Sohn & Co. AG’s holdings in Adobe were worth $18,440,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of ADBE. United Bank grew its position in Adobe by 19.7% in the third quarter. United Bank now owns 2,596 shares of the software company’s stock valued at $1,344,000 after acquiring an additional 428 shares during the period. Edgestream Partners L.P. bought a new stake in shares of Adobe in the 3rd quarter worth about $719,000. Tradition Wealth Management LLC grew its holdings in shares of Adobe by 2.8% in the 3rd quarter. Tradition Wealth Management LLC now owns 2,646 shares of the software company’s stock worth $1,370,000 after purchasing an additional 73 shares during the last quarter. Semmax Financial Advisors Inc. lifted its holdings in Adobe by 9.5% during the 3rd quarter. Semmax Financial Advisors Inc. now owns 5,094 shares of the software company’s stock valued at $2,681,000 after purchasing an additional 444 shares during the last quarter. Finally, Plotkin Financial Advisors LLC bought a new position in Adobe during the 3rd quarter valued at about $316,000. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Adobe news, CAO Jillian Forusz sold 334 shares of the firm’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total transaction of $145,567.22. Following the completion of the sale, the chief accounting officer now owns 2,685 shares of the company’s stock, valued at $1,170,203.55. This trade represents a 11.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Scott Belsky sold 3,819 shares of the company’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 completion of the transaction, the executive vice president now owns 18,334 shares in the company, valued at approximately $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 5,075 shares of company stock worth $2,191,826 over the last ninety days. Insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

ADBE has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $475.00 price objective (down previously from $600.00) on shares of Adobe in a report on Wednesday, January 8th. Mizuho dropped their price target on Adobe from $620.00 to $575.00 and set an “outperform” rating for the company in a report on Thursday, March 13th. Oppenheimer decreased their target price on Adobe from $560.00 to $530.00 and set an “outperform” rating on the stock in a report on Thursday, March 13th. Royal Bank of Canada restated an “outperform” rating and issued a $530.00 target price on shares of Adobe in a research note on Wednesday, March 19th. Finally, Evercore ISI reduced their price target on shares of Adobe from $650.00 to $550.00 and set an “outperform” rating on the stock in a research report on Thursday, March 13th. Eleven investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $533.85.

Adobe Stock Down 2.6 %

Shares of ADBE stock opened at $385.71 on Monday. The company has a market capitalization of $164.39 billion, a price-to-earnings ratio of 31.11, a P/E/G ratio of 2.15 and a beta of 1.37. Adobe Inc. has a 12-month low of $374.50 and a 12-month high of $587.75. The firm has a fifty day moving average of $431.81 and a 200-day moving average of $468.92. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29.

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