Signaturefd LLC Sells 1,303 Shares of Adobe Inc. (NASDAQ:ADBE)

Signaturefd LLC trimmed its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 11.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 9,758 shares of the software company’s stock after selling 1,303 shares during the period. Signaturefd LLC’s holdings in Adobe were worth $4,339,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of ADBE. Swedbank AB grew 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 valued at $619,355,000 after purchasing an additional 3,739 shares during the period. United Bank lifted its position in shares of Adobe by 19.7% during the 3rd quarter. United Bank now owns 2,596 shares of the software company’s stock valued at $1,344,000 after buying an additional 428 shares during the last quarter. OneDigital Investment Advisors LLC grew its stake in shares of Adobe by 1.8% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 6,002 shares of the software company’s stock worth $3,108,000 after acquiring an additional 104 shares during the period. Empowered Funds LLC increased its holdings in Adobe by 28.9% in the 3rd quarter. Empowered Funds LLC now owns 12,538 shares of the software company’s stock worth $6,492,000 after acquiring an additional 2,811 shares during the last quarter. Finally, Schear Investment Advisers LLC raised its stake in Adobe by 13.2% in the 3rd quarter. Schear Investment Advisers LLC now owns 4,255 shares of the software company’s stock valued at $2,203,000 after acquiring an additional 495 shares during the period. 81.79% of the stock is currently owned by institutional investors.

Adobe Stock Performance

Shares of ADBE stock opened at $394.74 on Monday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29. The company has a 50 day moving average price of $437.03 and a 200-day moving average price of $481.50. Adobe Inc. has a 52 week low of $374.50 and a 52 week high of $587.75. The firm has a market capitalization of $171.87 billion, a PE ratio of 31.83, a P/E/G ratio of 2.15 and a beta of 1.37.

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

Analyst Upgrades and Downgrades

ADBE has been the topic of several research reports. TD Cowen lowered shares of Adobe from a “buy” rating to a “hold” rating and lowered their price target for the company from $625.00 to $550.00 in a research report on Thursday, December 12th. Robert W. Baird reduced their price objective on shares of Adobe from $500.00 to $490.00 and set a “neutral” rating for the company in a research note on Thursday. KeyCorp dropped their target price on Adobe from $450.00 to $390.00 and set an “underweight” rating on the stock in a research report on Thursday. BMO Capital Markets reduced their price target on Adobe from $515.00 to $495.00 and set an “outperform” rating for the company in a research report on Thursday. Finally, Redburn Atlantic assumed coverage on Adobe in a research note on Wednesday, February 19th. They set a “neutral” rating on the stock. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $540.60.

Insider Buying and Selling at Adobe

In other Adobe news, EVP Scott Belsky sold 3,819 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The shares were 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 directly owns 18,334 shares of the company’s stock, valued at approximately $7,888,020.16. This represents a 17.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David A. Ricks purchased 2,250 shares of the company’s stock in a transaction dated Tuesday, January 28th. The shares were acquired at an average price of $443.98 per share, for a total transaction of $998,955.00. Following the purchase, the director now directly owns 4,984 shares in the company, valued at approximately $2,212,796.32. The trade was a 82.30 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 5,075 shares of company stock valued at $2,191,826. 0.16% of the stock is owned by company insiders.

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.