Adobe Inc. (NASDAQ:ADBE) Position Trimmed by Berkeley Capital Partners LLC

Berkeley Capital Partners LLC decreased its holdings in Adobe Inc. (NASDAQ:ADBE) by 10.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 577 shares of the software company’s stock after selling 67 shares during the quarter. Berkeley Capital Partners LLC’s holdings in Adobe were worth $257,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Nordea Investment Management AB grew its holdings in shares of Adobe by 2.0% in the 4th quarter. Nordea Investment Management AB now owns 1,712,616 shares of the software company’s stock worth $765,094,000 after acquiring an additional 33,414 shares during the last quarter. Arizona State Retirement System boosted its position in shares of Adobe by 0.4% in the 4th quarter. Arizona State Retirement System now owns 127,696 shares of the software company’s stock valued at $56,784,000 after purchasing an additional 570 shares during the period. Public Sector Pension Investment Board increased its stake in Adobe by 12.2% in the 3rd quarter. Public Sector Pension Investment Board now owns 19,322 shares of the software company’s stock worth $10,005,000 after purchasing an additional 2,100 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in Adobe by 201.0% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 117,383 shares of the software company’s stock worth $60,779,000 after buying an additional 78,384 shares during the period. Finally, Morse Asset Management Inc lifted its stake in Adobe by 33.0% during the third quarter. Morse Asset Management Inc now owns 8,519 shares of the software company’s stock valued at $4,411,000 after buying an additional 2,113 shares in the last quarter. Institutional investors own 81.79% of the company’s stock.

Adobe Stock Performance

ADBE opened at $389.61 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07. The company has a market cap of $169.64 billion, a PE ratio of 31.42, a price-to-earnings-growth ratio of 2.15 and a beta of 1.37. The stock has a 50-day moving average of $434.53 and a 200-day moving average of $477.76. Adobe Inc. has a 52-week low of $374.50 and a 52-week high of $587.75.

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

Wall Street Analyst Weigh In

ADBE has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $475.00 price target (down previously from $600.00) on shares of Adobe in a report on Wednesday, January 8th. Bank of America cut their target price on shares of Adobe from $605.00 to $528.00 and set a “buy” rating on the stock in a research note on Thursday, March 13th. Redburn Atlantic assumed coverage on Adobe in a research report on Wednesday, February 19th. They issued a “neutral” rating for the company. BMO Capital Markets dropped their price target on Adobe from $515.00 to $495.00 and set an “outperform” rating on the stock in a research report on Thursday, March 13th. Finally, Robert W. Baird decreased their price objective on Adobe from $490.00 to $410.00 and set a “neutral” rating for the company in a research report on Wednesday. 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $538.80.

Insider Buying and Selling

In related news, EVP Scott Belsky sold 3,819 shares of the stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 18,334 shares in the company, valued at $7,888,020.16. This represents a 17.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director David A. Ricks purchased 2,250 shares of the company’s stock in a transaction on Tuesday, January 28th. The stock was acquired at an average cost of $443.98 per share, for a total transaction of $998,955.00. Following the completion of the transaction, the director now owns 4,984 shares in the company, valued at approximately $2,212,796.32. This trade represents a 82.30 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders sold 5,075 shares of company stock valued at $2,191,826. Company insiders own 0.16% of the company’s stock.

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.