TD Private Client Wealth LLC Sells 130 Shares of Adobe Inc. (NASDAQ:ADBE)

TD Private Client Wealth LLC decreased its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 4.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 3,146 shares of the software company’s stock after selling 130 shares during the quarter. TD Private Client Wealth LLC’s holdings in Adobe were worth $1,399,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Nordea Investment Management AB increased its holdings in shares of Adobe by 2.0% during the 4th quarter. Nordea Investment Management AB now owns 1,712,616 shares of the software company’s stock worth $765,094,000 after purchasing an additional 33,414 shares during the period. Arizona State Retirement System increased its stake in Adobe by 0.4% in the fourth quarter. Arizona State Retirement System now owns 127,696 shares of the software company’s stock valued at $56,784,000 after acquiring an additional 570 shares during the period. Public Sector Pension Investment Board increased its stake in Adobe by 12.2% in the third quarter. Public Sector Pension Investment Board now owns 19,322 shares of the software company’s stock valued at $10,005,000 after acquiring an additional 2,100 shares during the period. Jacobs Levy Equity Management Inc. increased its stake in Adobe by 201.0% in the third quarter. Jacobs Levy Equity Management Inc. now owns 117,383 shares of the software company’s stock valued at $60,779,000 after acquiring an additional 78,384 shares during the period. Finally, Morse Asset Management Inc increased its stake in Adobe by 33.0% in the third quarter. Morse Asset Management Inc now owns 8,519 shares of the software company’s stock valued at $4,411,000 after acquiring an additional 2,113 shares during the period. Institutional investors own 81.79% of the company’s stock.

Adobe Stock Down 0.6 %

Shares of NASDAQ:ADBE opened at $387.26 on Friday. Adobe Inc. has a 52 week low of $374.50 and a 52 week high of $587.75. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07. The company has a market capitalization of $168.62 billion, a PE ratio of 31.23, a PEG ratio of 2.15 and a beta of 1.37. The company has a 50 day moving average price of $434.16 and a two-hundred day moving average price of $475.80.

Adobe (NASDAQ:ADBE) last issued its earnings results on Wednesday, March 12th. The software company reported $5.08 EPS for the quarter, beating the consensus estimate of $4.97 by $0.11. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The firm had revenue of $5.71 billion during the quarter, compared to the consensus estimate of $5.66 billion. During the same quarter in the prior year, the firm earned $4.48 earnings per share. Analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current year.

Insider Buying and Selling at Adobe

In related news, CFO Daniel Durn acquired 1,300 shares of the stock in a transaction dated Thursday, March 20th. The stock was bought at an average price of $390.58 per share, with a total value of $507,754.00. Following the completion of the transaction, the chief financial officer now directly owns 29,876 shares of the company’s stock, valued at approximately $11,668,968.08. The trade was a 4.55 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Scott Belsky sold 922 shares of the stock in a transaction on Friday, January 24th. The stock was sold at an average price of $437.28, for a total transaction of $403,172.16. Following the sale, the executive vice president now directly owns 22,153 shares of the company’s stock, valued at $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 90 days, insiders sold 5,075 shares of company stock valued at $2,191,826. Corporate insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

ADBE has been the topic of a number of analyst reports. JPMorgan Chase & Co. lowered their target price on shares of Adobe from $580.00 to $540.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. UBS Group set a $495.00 target price on shares of Adobe in a research note on Thursday, March 13th. Redburn Atlantic initiated coverage on shares of Adobe in a research note on Wednesday, February 19th. They issued a “neutral” rating on the stock. 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. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $530.00 target price on shares of Adobe in a research note on Wednesday. Eleven investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $538.80.

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.