Adobe Inc. (NASDAQ:ADBE) Stock Holdings Decreased by Grandview Asset Management LLC

Grandview Asset Management LLC decreased its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 6.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 3,118 shares of the software company’s stock after selling 232 shares during the quarter. Grandview Asset Management LLC’s holdings in Adobe were worth $1,387,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the company. PSI Advisors LLC raised its holdings in shares of Adobe by 14.8% during the fourth quarter. PSI Advisors LLC now owns 1,711 shares of the software company’s stock worth $761,000 after purchasing an additional 220 shares during the period. Gunderson Capital Management Inc. acquired a new stake in Adobe during the fourth quarter worth about $2,731,000. Unique Wealth LLC lifted its holdings in Adobe by 11.0% in the fourth quarter. Unique Wealth LLC now owns 3,913 shares of the software company’s stock worth $1,740,000 after acquiring an additional 387 shares during the last quarter. FNY Investment Advisers LLC boosted its stake in Adobe by 20,900.0% in the fourth quarter. FNY Investment Advisers LLC now owns 420 shares of the software company’s stock valued at $186,000 after acquiring an additional 418 shares during the period. Finally, Signet Financial Management LLC raised its position in shares of Adobe by 2.6% during the 4th quarter. Signet Financial Management LLC now owns 5,979 shares of the software company’s stock worth $2,659,000 after purchasing an additional 153 shares during the period. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Amy Banse sold 606 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 32,929 shares in the company, valued at $18,110,950. This represents a 1.81 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Scott Belsky sold 481 shares of Adobe stock in a transaction on Friday, October 25th. The shares were sold at an average price of $483.42, for a total value of $232,525.02. Following the completion of the transaction, the executive vice president now owns 18,128 shares of the company’s stock, valued at approximately $8,763,437.76. The trade was a 2.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,763 shares of company stock worth $893,665 over the last quarter. Company insiders own 0.15% of the company’s stock.

Adobe Stock Performance

NASDAQ ADBE opened at $408.50 on Tuesday. The company’s fifty day moving average is $482.55 and its two-hundred day moving average is $516.02. The firm has a market capitalization of $179.82 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 current ratio of 1.11 and a quick ratio of 1.11. Adobe Inc. has a 52-week low of $403.75 and a 52-week high of $638.25.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.67 by $0.14. The business had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.54 billion. Adobe had a return on equity of 45.22% and a net margin of 25.85%. Adobe’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the business posted $3.52 earnings per share. Equities research analysts forecast that Adobe Inc. will post 16.73 EPS for the current year.

Wall Street Analysts Forecast Growth

ADBE has been the subject of several analyst reports. UBS Group reduced their price target on shares of Adobe from $525.00 to $475.00 and set a “neutral” rating for the company in a report on Friday, January 3rd. Mizuho lowered their price target on Adobe from $640.00 to $620.00 and set an “outperform” rating on the stock in a report on Thursday, December 12th. Citigroup reduced their price objective on shares of Adobe from $616.00 to $590.00 and set a “neutral” rating for the company in a report on Monday, December 9th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $475.00 target price (down previously from $600.00) on shares of Adobe in a research note on Wednesday, January 8th. Finally, Stifel Nicolaus reduced their price target on shares of Adobe from $650.00 to $600.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $575.85.

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.