Adobe Inc. (NASDAQ:ADBE) Shares Sold by Callan Capital LLC

Callan Capital LLC decreased its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 16.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,742 shares of the software company’s stock after selling 522 shares during the period. Callan Capital LLC’s holdings in Adobe were worth $1,219,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of ADBE. Swedbank AB raised its holdings in Adobe by 0.3% during the third quarter. Swedbank AB now owns 1,196,175 shares of the software company’s stock worth $619,355,000 after purchasing an additional 3,739 shares during the last quarter. McAdam LLC raised its holdings in Adobe by 31.4% in the 3rd quarter. McAdam LLC now owns 498 shares of the software company’s stock valued at $258,000 after acquiring an additional 119 shares during the last quarter. YHB Investment Advisors Inc. lifted its holdings in shares of Adobe by 25.8% during the 3rd quarter. YHB Investment Advisors Inc. now owns 1,200 shares of the software company’s stock worth $621,000 after acquiring an additional 246 shares during the period. Romano Brothers AND Company boosted its holdings in Adobe by 10.8% in the third quarter. Romano Brothers AND Company now owns 1,385 shares of the software company’s stock valued at $717,000 after acquiring an additional 135 shares during the last quarter. Finally, Mcdaniel Terry & Co. grew its stake in Adobe by 2.5% during the third quarter. Mcdaniel Terry & Co. now owns 37,352 shares of the software company’s stock worth $19,340,000 after buying an additional 924 shares during the period. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Adobe Stock Down 2.3 %

Adobe stock opened at $444.32 on Friday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29. The firm’s fifty day moving average price is $440.46 and its two-hundred day moving average price is $494.16. The firm has a market capitalization of $193.41 billion, a price-to-earnings ratio of 35.83, a price-to-earnings-growth ratio of 2.21 and a beta of 1.31. Adobe Inc. has a 1-year low of $403.75 and a 1-year high of $587.75.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share for the quarter, topping analysts’ consensus estimates of $4.67 by $0.14. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The company had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $5.54 billion. During the same period in the previous year, the firm earned $3.52 EPS. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. On average, equities research analysts predict that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Insider Transactions at Adobe

In other Adobe news, Director Amy Banse sold 606 shares of the business’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 transaction, the director now directly owns 32,929 shares of the company’s stock, valued at approximately $18,110,950. The trade was a 1.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Jillian Forusz sold 334 shares of the business’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total transaction of $145,567.22. Following the sale, the chief accounting officer now directly owns 2,685 shares in the company, valued at $1,170,203.55. The trade was a 11.06 % 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 currently owned by company insiders.

Analysts Set New Price Targets

ADBE has been the topic of a number of recent analyst reports. Stifel Nicolaus cut their target price on Adobe from $650.00 to $600.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. DA Davidson cut their price objective on shares of Adobe from $685.00 to $625.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Redburn Atlantic initiated coverage on Adobe in a research note on Wednesday. They issued a “neutral” rating for the company. Wells Fargo & Company decreased their price target on Adobe from $700.00 to $640.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $590.00 target price on shares of Adobe in a research note on Thursday, February 13th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Adobe presently has a consensus rating of “Moderate Buy” and a consensus target price of $570.88.

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.