Ifrah Financial Services Inc. Cuts Position in Adobe Inc. (NASDAQ:ADBE)

Ifrah Financial Services Inc. lessened its holdings in Adobe Inc. (NASDAQ:ADBE) by 2.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,120 shares of the software company’s stock after selling 33 shares during the period. Ifrah Financial Services Inc.’s holdings in Adobe were worth $498,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Legacy Investment Solutions LLC acquired a new stake in Adobe during the 3rd quarter valued at $26,000. MidAtlantic Capital Management Inc. acquired a new position in shares of Adobe in the third quarter worth $30,000. True Wealth Design LLC raised its holdings in shares of Adobe by 141.7% in the third quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock worth $30,000 after acquiring an additional 34 shares during the last quarter. Briaud Financial Planning Inc acquired a new position in shares of Adobe in the third quarter worth $36,000. Finally, Decker Retirement Planning Inc. acquired a new position in shares of Adobe in the fourth quarter worth $31,000. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Adobe Trading Up 0.2 %

Shares of NASDAQ ADBE opened at $460.16 on Monday. The stock’s 50 day moving average price is $446.56 and its two-hundred day moving average price is $496.20. Adobe Inc. has a 52-week low of $403.75 and a 52-week high of $607.32. The stock has a market capitalization of $200.31 billion, a P/E ratio of 37.11, a PEG ratio of 2.11 and a beta of 1.31. 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 announced its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.67 by $0.14. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The firm had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.54 billion. During the same quarter in the prior year, the firm 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, analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ADBE. Sanford C. Bernstein cut their price target on Adobe from $644.00 to $587.00 and set an “outperform” rating for the company in a report on Thursday, December 12th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $475.00 price objective (down previously from $600.00) on shares of Adobe in a research report on Wednesday, January 8th. TD Cowen downgraded Adobe from a “buy” rating to a “hold” rating and lowered their price objective for the company from $625.00 to $550.00 in a research report on Thursday, December 12th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $590.00 price objective on shares of Adobe in a research report on Thursday. Finally, Jefferies Financial Group lowered their price objective on Adobe from $700.00 to $650.00 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, ten have assigned a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $573.00.

Insider Buying and Selling

In other Adobe news, Director David A. Ricks acquired 2,250 shares of the firm’s stock in a transaction that occurred on Tuesday, January 28th. The stock was acquired at an average cost of $443.98 per share, with a total value of $998,955.00. Following the acquisition, the director now directly owns 4,984 shares of the company’s stock, valued at $2,212,796.32. This represents a 82.30 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Jillian Forusz sold 334 shares of the stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $435.83, for a total value of $145,567.22. Following the transaction, the chief accounting officer now directly owns 2,685 shares of the company’s stock, valued at approximately $1,170,203.55. The trade was a 11.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,681 shares of company stock valued at $2,525,126 in the last three months. 0.15% of the stock is currently owned by corporate insiders.

About Adobe

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.