Adobe Inc. (NASDAQ:ADBE) Shares Sold by YHB Investment Advisors Inc.

YHB Investment Advisors Inc. trimmed its position in Adobe Inc. (NASDAQ:ADBE) by 2.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,172 shares of the software company’s stock after selling 28 shares during the period. YHB Investment Advisors Inc.’s holdings in Adobe were worth $521,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ADBE. Bay Rivers Group lifted its holdings in shares of Adobe by 30.7% in the fourth quarter. Bay Rivers Group now owns 813 shares of the software company’s stock valued at $362,000 after buying an additional 191 shares during the period. Slow Capital Inc. raised its position in Adobe by 9.7% in the fourth quarter. Slow Capital Inc. now owns 7,250 shares of the software company’s stock worth $3,224,000 after acquiring an additional 639 shares in the last quarter. Lebenthal Global Advisors LLC lifted its holdings in Adobe by 16.4% in the 4th quarter. Lebenthal Global Advisors LLC now owns 2,334 shares of the software company’s stock valued at $1,038,000 after acquiring an additional 329 shares during the last quarter. Baldwin Wealth Partners LLC MA boosted its position in shares of Adobe by 6.0% during the 4th quarter. Baldwin Wealth Partners LLC MA now owns 45,627 shares of the software company’s stock valued at $20,289,000 after purchasing an additional 2,578 shares in the last quarter. Finally, Foundations Investment Advisors LLC grew its stake in shares of Adobe by 30.9% in the 4th quarter. Foundations Investment Advisors LLC now owns 36,009 shares of the software company’s stock worth $16,012,000 after purchasing an additional 8,508 shares during the last quarter. 81.79% of the stock is owned by institutional investors.

Adobe Price Performance

NASDAQ ADBE opened at $442.70 on Wednesday. The company has a 50 day moving average price of $466.93 and a two-hundred day moving average price of $506.42. Adobe Inc. has a 12-month low of $403.75 and a 12-month high of $638.25. The stock has a market capitalization of $192.71 billion, a PE ratio of 35.70, a price-to-earnings-growth ratio of 2.12 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 issued its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 earnings per share (EPS) 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 firm had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.54 billion. During the same period in the prior year, the company posted $3.52 earnings per share. Adobe’s revenue for the quarter was up 11.1% on a year-over-year basis. As a group, equities analysts predict that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Wells Fargo & Company cut their target price on shares of Adobe from $700.00 to $640.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. DA Davidson reduced their price objective on Adobe from $685.00 to $625.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. Jefferies Financial Group decreased their target price on Adobe from $700.00 to $650.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. TD Cowen downgraded Adobe from a “buy” rating to a “hold” rating and reduced their target price for the company from $625.00 to $550.00 in a report on Thursday, December 12th. Finally, Stifel Nicolaus dropped their price target on Adobe from $650.00 to $600.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Adobe currently has an average rating of “Moderate Buy” and an average target price of $573.00.

Insider Activity at Adobe

In related news, EVP Scott Belsky sold 3,819 shares of the firm’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $430.24, for a total value of $1,643,086.56. Following the transaction, the executive vice president now directly owns 18,334 shares in the company, valued at approximately $7,888,020.16. This trade represents a 17.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Jillian Forusz sold 334 shares of the business’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total transaction 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. This represents a 11.06 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,681 shares of company stock valued at $2,525,126. Corporate insiders own 0.15% of the company’s stock.

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.