Global Strategic Investment Solutions LLC Sells 44 Shares of Adobe Inc. (NASDAQ:ADBE)

Global Strategic Investment Solutions LLC decreased its position in Adobe Inc. (NASDAQ:ADBE) by 6.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 690 shares of the software company’s stock after selling 44 shares during the quarter. Global Strategic Investment Solutions LLC’s holdings in Adobe were worth $307,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Swedbank AB grew its holdings in Adobe by 0.3% during the 3rd quarter. Swedbank AB now owns 1,196,175 shares of the software company’s stock worth $619,355,000 after acquiring an additional 3,739 shares during the last quarter. Chicago Partners Investment Group LLC grew its holdings in Adobe by 3.3% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 2,902 shares of the software company’s stock worth $1,408,000 after acquiring an additional 93 shares during the last quarter. Princeton Global Asset Management LLC bought a new stake in Adobe during the 3rd quarter worth about $53,000. Janney Montgomery Scott LLC grew its holdings in Adobe by 0.4% during the 3rd quarter. Janney Montgomery Scott LLC now owns 97,316 shares of the software company’s stock worth $50,388,000 after acquiring an additional 364 shares during the last quarter. Finally, Blue Square Asset Management LLC grew its holdings in Adobe by 3.6% during the 3rd quarter. Blue Square Asset Management LLC now owns 4,942 shares of the software company’s stock worth $2,559,000 after acquiring an additional 174 shares during the last quarter. Institutional investors own 81.79% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. BMO Capital Markets decreased their price objective on shares of Adobe from $570.00 to $515.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. UBS Group lowered their price target on shares of Adobe from $525.00 to $475.00 and set a “neutral” rating for the company in a research report on Friday, January 3rd. DA Davidson lowered their price target on shares of Adobe from $685.00 to $625.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. Royal Bank of Canada reiterated an “outperform” rating and set a $590.00 price target on shares of Adobe in a research report on Thursday, February 13th. Finally, Stifel Nicolaus lowered their price target on shares of Adobe from $650.00 to $600.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, eleven have given 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 presently has a consensus rating of “Moderate Buy” and a consensus price target of $570.88.

Insider Activity at Adobe

In related news, Director David A. Ricks purchased 2,250 shares of the firm’s stock in a transaction 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 directly owns 4,984 shares in the company, valued at $2,212,796.32. This trade represents a 82.30 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Scott Belsky sold 922 shares of the company’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $437.28, for a total value of $403,172.16. Following the sale, the executive vice president now owns 22,153 shares in the company, valued at approximately $9,687,063.84. This represents a 4.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,681 shares of company stock valued at $2,525,126. 0.15% of the stock is owned by insiders.

Adobe Stock Performance

Shares of ADBE opened at $440.72 on Tuesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07. Adobe Inc. has a twelve month low of $403.75 and a twelve month high of $587.75. The firm’s 50 day moving average price is $439.59 and its two-hundred day moving average price is $489.79. The firm has a market cap of $191.85 billion, a P/E ratio of 35.54, a PEG ratio of 2.15 and a beta of 1.31.

Adobe (NASDAQ:ADBE) last announced its 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 business had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.54 billion. During the same quarter in the prior year, the company posted $3.52 earnings per share. The firm’s revenue was up 11.1% on a year-over-year basis. On average, analysts forecast that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Adobe 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.