Adobe Inc. (NASDAQ:ADBE) Shares Sold by Stonehage Fleming Financial Services Holdings Ltd

Stonehage Fleming Financial Services Holdings Ltd trimmed its holdings in Adobe Inc. (NASDAQ:ADBE) by 63.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 91,185 shares of the software company’s stock after selling 157,888 shares during the quarter. Adobe makes up about 1.1% of Stonehage Fleming Financial Services Holdings Ltd’s holdings, making the stock its 21st biggest position. Stonehage Fleming Financial Services Holdings Ltd’s holdings in Adobe were worth $40,548,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Stablepoint Partners LLC increased its holdings in shares of Adobe by 6.5% in the fourth quarter. Stablepoint Partners LLC now owns 1,613 shares of the software company’s stock valued at $717,000 after purchasing an additional 98 shares during the period. Regatta Capital Group LLC increased its stake in Adobe by 24.7% in the 4th quarter. Regatta Capital Group LLC now owns 706 shares of the software company’s stock valued at $314,000 after buying an additional 140 shares during the period. Novare Capital Management LLC raised its position in Adobe by 0.5% during the 4th quarter. Novare Capital Management LLC now owns 26,103 shares of the software company’s stock worth $11,607,000 after buying an additional 141 shares during the last quarter. Guerra Pan Advisors LLC lifted its stake in shares of Adobe by 3.4% in the 4th quarter. Guerra Pan Advisors LLC now owns 1,954 shares of the software company’s stock worth $869,000 after acquiring an additional 65 shares during the period. Finally, Clarendon Private LLC acquired a new position in shares of Adobe during the fourth quarter worth about $260,000. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Analyst Upgrades and Downgrades

ADBE has been the topic of a number of analyst reports. BMO Capital Markets lowered their price objective on Adobe from $600.00 to $570.00 and set an “outperform” rating on the stock in a report on Thursday, December 12th. Citigroup dropped their price objective on Adobe from $616.00 to $590.00 and set a “neutral” rating on the stock in a report on Monday, December 9th. Bank of America decreased their target price on shares of Adobe from $640.00 to $605.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Piper Sandler cut their price target on shares of Adobe from $635.00 to $600.00 and set an “overweight” rating for the company in a report on Thursday, December 12th. Finally, Stifel Nicolaus decreased their price objective on shares of Adobe from $650.00 to $600.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. One analyst has rated the stock with a sell rating, ten have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Adobe has a consensus rating of “Moderate Buy” and an average target price of $573.00.

Insider Activity at Adobe

In other Adobe news, Director Amy Banse sold 606 shares of the firm’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $550.00, for a total transaction of $333,300.00. Following the completion of the transaction, the director now directly owns 32,929 shares of the company’s stock, valued at $18,110,950. This trade represents a 1.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Jillian Forusz sold 676 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $484.97, for a total value of $327,839.72. Following the sale, the chief accounting officer now owns 2,715 shares in the company, valued at $1,316,693.55. The trade was a 19.94 % decrease in their position. The disclosure for this sale can be found here. 0.15% of the stock is owned by insiders.

Adobe Stock Down 0.4 %

ADBE opened at $435.38 on Monday. The stock has a market capitalization of $189.52 billion, a price-to-earnings ratio of 35.11, a price-to-earnings-growth ratio of 2.12 and a beta of 1.31. Adobe Inc. has a 12 month low of $403.75 and a 12 month high of $638.25. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. The business has a 50-day moving average of $468.14 and a two-hundred day moving average of $507.66.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $5.54 billion. During the same quarter in the prior year, the business posted $3.52 earnings per share. Adobe’s revenue for the quarter was up 11.1% compared to the same quarter last year. On average, research analysts expect that Adobe Inc. will post 16.65 earnings per share 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.