Adobe Inc. (NASDAQ:ADBE) Shares Sold by Enterprise Bank & Trust Co

Enterprise Bank & Trust Co lowered its position in shares of Adobe Inc. (NASDAQ:ADBE) by 8.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,206 shares of the software company’s stock after selling 203 shares during the quarter. Enterprise Bank & Trust Co’s holdings in Adobe were worth $981,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the company. State Street Corp grew its holdings in shares of Adobe by 1.2% during the third quarter. State Street Corp now owns 20,270,287 shares of the software company’s stock valued at $10,495,544,000 after purchasing an additional 234,909 shares during the last quarter. Geode Capital Management LLC grew its stake in Adobe by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 10,529,089 shares of the software company’s stock worth $5,435,377,000 after buying an additional 147,981 shares during the last quarter. FMR LLC lifted its stake in Adobe by 8.8% in the third quarter. FMR LLC now owns 9,690,163 shares of the software company’s stock valued at $5,017,373,000 after buying an additional 787,356 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in shares of Adobe by 2.0% during the third quarter. Fisher Asset Management LLC now owns 4,859,584 shares of the software company’s stock valued at $2,516,196,000 after acquiring an additional 93,143 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Adobe by 3.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,741,549 shares of the software company’s stock worth $2,455,079,000 after acquiring an additional 140,390 shares during the last quarter. Institutional investors own 81.79% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Scott Belsky sold 1,530 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $513.82, for a total transaction of $786,144.60. Following the completion of the transaction, the executive vice president now owns 18,831 shares of the company’s stock, valued at approximately $9,675,744.42. The trade was a 7.51 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Amy Banse sold 606 shares of the firm’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $550.00, for a total transaction of $333,300.00. Following the completion of the sale, the director now owns 32,929 shares in the company, valued at approximately $18,110,950. The trade was a 1.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,293 shares of company stock valued at $1,679,809 over the last 90 days. 0.15% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $475.00 target price (down from $600.00) on shares of Adobe in a research note on Wednesday, January 8th. TD Cowen lowered Adobe from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $625.00 to $550.00 in a report on Thursday, December 12th. BMO Capital Markets cut their target price on Adobe from $600.00 to $570.00 and set an “outperform” rating on the stock in a research note on Thursday, December 12th. Sanford C. Bernstein lowered their price target on Adobe from $644.00 to $587.00 and set an “outperform” rating on the stock in a report on Thursday, December 12th. Finally, DA Davidson lowered their target price on shares of Adobe from $685.00 to $625.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $575.85.

Adobe Stock Up 0.6 %

Shares of ADBE stock traded up $2.49 during trading on Monday, hitting $408.41. 2,765,827 shares of the company were exchanged, compared to its average volume of 4,008,322. The business’s 50-day simple moving average is $484.01 and its 200 day simple moving average is $517.00. Adobe Inc. has a twelve month low of $403.75 and a twelve month high of $638.25. The firm has a market capitalization of $179.78 billion, a price-to-earnings ratio of 32.94, a P/E/G ratio of 2.51 and a beta of 1.31. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.11 and a current ratio of 1.11.

Adobe (NASDAQ:ADBE) last issued its earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share for the quarter, topping the consensus estimate of $4.67 by $0.14. The company had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.54 billion. Adobe had a return on equity of 45.22% and a net margin of 25.85%. The business’s revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.52 EPS. As a group, analysts forecast that Adobe Inc. will post 16.73 EPS 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.