Nilsine Partners LLC Sells 7,869 Shares of Adobe Inc. (NASDAQ:ADBE)

Nilsine Partners LLC decreased its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 90.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 816 shares of the software company’s stock after selling 7,869 shares during the quarter. Nilsine Partners LLC’s holdings in Adobe were worth $363,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Onyx Bridge Wealth Group LLC grew its holdings in shares of Adobe by 4.0% during the 3rd quarter. Onyx Bridge Wealth Group LLC now owns 526 shares of the software company’s stock worth $272,000 after purchasing an additional 20 shares during the period. Connable Office Inc. lifted its position in Adobe by 0.5% in the third quarter. Connable Office Inc. now owns 3,732 shares of the software company’s stock valued at $1,932,000 after buying an additional 20 shares during the last quarter. 1ST Source Bank boosted its stake in Adobe by 0.7% during the third quarter. 1ST Source Bank now owns 2,889 shares of the software company’s stock worth $1,496,000 after buying an additional 20 shares during the period. James J. Burns & Company LLC increased its position in shares of Adobe by 5.6% during the third quarter. James J. Burns & Company LLC now owns 415 shares of the software company’s stock valued at $215,000 after acquiring an additional 22 shares during the last quarter. Finally, Holistic Financial Partners raised its stake in shares of Adobe by 6.0% in the 3rd quarter. Holistic Financial Partners now owns 387 shares of the software company’s stock valued at $200,000 after acquiring an additional 22 shares during the period. 81.79% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CAO Jillian Forusz sold 334 shares of Adobe stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $435.83, for a total value of $145,567.22. Following the transaction, the chief accounting officer now directly owns 2,685 shares of the company’s stock, valued at $1,170,203.55. The trade was a 11.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Scott Belsky sold 3,819 shares of the company’s stock in a transaction 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 owns 18,334 shares of the company’s stock, valued at approximately $7,888,020.16. This trade represents a 17.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,681 shares of company stock valued at $2,525,126 over the last quarter. Company insiders own 0.15% of the company’s stock.

Adobe Trading Down 0.3 %

Shares of Adobe stock opened at $441.68 on Thursday. The company has a fifty day simple moving average of $465.79 and a 200-day simple moving average of $505.60. Adobe Inc. has a 12-month low of $403.75 and a 12-month high of $638.25. 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 stock has a market cap of $192.26 billion, a price-to-earnings ratio of 35.62, a PEG ratio of 2.12 and a beta of 1.31.

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 the consensus estimate of $4.67 by $0.14. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The company had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.54 billion. During the same quarter last year, the company posted $3.52 earnings per share. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. On average, equities analysts forecast that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Analyst Ratings Changes

ADBE has been the subject of several research reports. Citigroup dropped their target price 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 reaffirmed a “hold” rating and issued a $475.00 price objective (down from $600.00) on shares of Adobe in a research note on Wednesday, January 8th. BMO Capital Markets decreased their target price on Adobe from $600.00 to $570.00 and set an “outperform” rating on the stock in a research note on Thursday, December 12th. Piper Sandler dropped their target price on Adobe from $635.00 to $600.00 and set an “overweight” rating for the company in a research report on Thursday, December 12th. Finally, StockNews.com raised shares of Adobe from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, ten have given a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $573.00.

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.