Little House Capital LLC Reduces Position in Adobe Inc. (NASDAQ:ADBE)

Little House Capital LLC lowered its position in Adobe Inc. (NASDAQ:ADBE) by 53.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 677 shares of the software company’s stock after selling 783 shares during the quarter. Little House Capital LLC’s holdings in Adobe were worth $301,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of ADBE. International Assets Investment Management LLC boosted its stake in Adobe by 66,909.7% during the 3rd quarter. International Assets Investment Management LLC now owns 1,378,390 shares of the software company’s stock worth $713,703,000 after purchasing an additional 1,376,333 shares during the period. FMR LLC boosted its stake in shares of Adobe by 8.8% during the third quarter. FMR LLC now owns 9,690,163 shares of the software company’s stock worth $5,017,373,000 after buying an additional 787,356 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of Adobe by 42.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,168,584 shares of the software company’s stock worth $519,646,000 after buying an additional 347,536 shares during the period. Seilern Investment Management Ltd purchased a new position in shares of Adobe during the fourth quarter worth about $110,744,000. Finally, Erste Asset Management GmbH purchased a new stake in Adobe during the 3rd quarter valued at approximately $126,703,000. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Adobe

In other Adobe news, Director David A. Ricks purchased 2,250 shares of the firm’s stock in a transaction on Tuesday, January 28th. The shares were purchased at an average cost of $443.98 per share, with a total value of $998,955.00. Following the purchase, the director now owns 4,984 shares in the company, valued at approximately $2,212,796.32. This represents a 82.30 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Amy Banse sold 606 shares of the company’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $550.00, for a total transaction of $333,300.00. Following the transaction, the director now directly owns 32,929 shares of the company’s stock, valued at approximately $18,110,950. This represents a 1.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,681 shares of company stock worth $2,525,126 over the last ninety days. 0.15% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

ADBE has been the topic of several analyst reports. StockNews.com upgraded Adobe from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, January 28th. Piper Sandler dropped their price objective on shares of Adobe from $635.00 to $600.00 and set an “overweight” rating on the stock in a research note on Thursday, December 12th. Oppenheimer reduced their target price on shares of Adobe from $625.00 to $600.00 and set an “outperform” rating for the company in a research note on Thursday, December 12th. Barclays dropped their price target on shares of Adobe from $675.00 to $645.00 and set an “overweight” rating on the stock in a research note on Thursday, December 12th. Finally, BMO Capital Markets reduced their price objective on shares of Adobe from $600.00 to $570.00 and set an “outperform” rating for the company in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $573.00.

Adobe Price Performance

ADBE stock opened at $460.16 on Friday. The stock’s 50 day moving average price is $446.56 and its 200 day moving average price is $496.88. The firm has a market cap of $200.31 billion, a P/E ratio of 37.11, a PEG ratio of 2.11 and a beta of 1.31. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07. Adobe Inc. has a 1 year low of $403.75 and a 1 year high of $607.32.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 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 analyst estimates of $5.54 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter last year, the company earned $3.52 earnings per share. On average, sell-side analysts expect that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

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.