Game Plan Financial Advisors LLC Has $1.50 Million Stock Position in Adobe Inc. (NASDAQ:ADBE)

Game Plan Financial Advisors LLC trimmed its position in Adobe Inc. (NASDAQ:ADBE) by 49.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 3,383 shares of the software company’s stock after selling 3,333 shares during the period. Game Plan Financial Advisors LLC’s holdings in Adobe were worth $1,504,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Legacy Investment Solutions LLC acquired a new position in Adobe during the 3rd quarter valued at $26,000. MidAtlantic Capital Management Inc. acquired a new position in Adobe during the 3rd quarter valued at $30,000. True Wealth Design LLC raised its stake in Adobe by 141.7% during the 3rd quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock valued at $30,000 after purchasing an additional 34 shares during the last quarter. Briaud Financial Planning Inc acquired a new position in Adobe during the 3rd quarter valued at $36,000. Finally, Decker Retirement Planning Inc. acquired a new position in Adobe during the 4th quarter valued at $31,000. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ADBE has been the subject of several research analyst reports. TD Cowen cut shares of Adobe from a “buy” rating to a “hold” rating and cut their target price for the company from $625.00 to $550.00 in a research note on Thursday, December 12th. BNP Paribas upgraded shares of Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 target price for the company in a research note on Wednesday, January 15th. Citigroup lowered their price target on shares of Adobe from $616.00 to $590.00 and set a “neutral” rating on the stock in a report on Monday, December 9th. UBS Group lowered their price target on shares of Adobe from $525.00 to $475.00 and set a “neutral” rating on the stock in a report on Friday, January 3rd. Finally, DA Davidson lowered their price target on shares of Adobe from $685.00 to $625.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Adobe currently has a consensus rating of “Moderate Buy” and a consensus target price of $573.00.

Adobe Stock Up 0.2 %

Shares of NASDAQ:ADBE opened at $460.16 on Friday. Adobe Inc. has a 12 month low of $403.75 and a 12 month high of $607.32. The company’s 50-day moving average price is $446.56 and its two-hundred day moving average price is $496.88. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29. The firm has a market cap of $200.31 billion, a P/E ratio of 37.11, a P/E/G ratio of 2.11 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 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 for the quarter, compared to analyst estimates of $5.54 billion. During the same quarter in the prior year, the firm earned $3.52 EPS. The company’s revenue was up 11.1% on a year-over-year basis. As a group, research analysts forecast that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Insider Buying and Selling at Adobe

In other Adobe news, 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 in the company, valued at approximately $18,110,950. This represents a 1.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Jillian Forusz sold 334 shares of the company’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $435.83, for a total transaction of $145,567.22. Following the transaction, the chief accounting officer now owns 2,685 shares in the company, valued at approximately $1,170,203.55. The trade was a 11.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,681 shares of company stock worth $2,525,126. Company 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.