Transcend Capital Advisors LLC Sells 152 Shares of Adobe Inc. (NASDAQ:ADBE)

Transcend Capital Advisors LLC trimmed its position in shares of Adobe Inc. (NASDAQ:ADBE) by 2.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,581 shares of the software company’s stock after selling 152 shares during the period. Transcend Capital Advisors LLC’s holdings in Adobe were worth $2,482,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Legacy Investment Solutions LLC bought a new position in Adobe during the third quarter worth $26,000. Groupama Asset Managment grew its position in Adobe by 28.8% in the 3rd quarter. Groupama Asset Managment now owns 51,482 shares of the software company’s stock worth $27,000 after purchasing an additional 11,522 shares during the last quarter. MidAtlantic Capital Management Inc. bought a new position in shares of Adobe during the 3rd quarter worth about $30,000. True Wealth Design LLC increased its holdings in shares of Adobe by 141.7% during the 3rd quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock worth $30,000 after purchasing an additional 34 shares during the period. Finally, Decker Retirement Planning Inc. acquired a new position in shares of Adobe during the fourth quarter valued at about $31,000. 81.79% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ADBE has been the topic of a number of recent research reports. 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 research report on Thursday, December 12th. JMP Securities reissued a “market perform” rating on shares of Adobe in a report on Thursday, December 12th. StockNews.com lowered Adobe from a “strong-buy” rating to a “buy” rating in a research note on Thursday. DA Davidson decreased their price target on shares of Adobe from $685.00 to $625.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. Finally, BMO Capital Markets lowered their price target on shares of Adobe from $570.00 to $515.00 and set an “outperform” rating on the stock in a report on Wednesday. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $570.88.

Insiders Place Their Bets

In other Adobe news, EVP Scott Belsky sold 922 shares of the business’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $437.28, for a total transaction of $403,172.16. Following the completion of the sale, the executive vice president now directly owns 22,153 shares of the company’s stock, valued at approximately $9,687,063.84. The trade was a 4.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Amy Banse sold 606 shares of the firm’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 completion of the transaction, the director now directly owns 32,929 shares in the company, valued at $18,110,950. This trade represents a 1.81 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,681 shares of company stock valued at $2,525,126. 0.15% of the stock is currently owned by corporate insiders.

Adobe Stock Down 2.3 %

Shares of NASDAQ ADBE opened at $444.32 on Friday. Adobe Inc. has a 12-month low of $403.75 and a 12-month high of $587.75. The firm’s 50-day simple moving average is $440.46 and its 200 day simple moving average is $494.16. 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 company has a market cap of $193.41 billion, a price-to-earnings ratio of 35.83, a price-to-earnings-growth ratio of 2.21 and a beta of 1.31.

Adobe (NASDAQ:ADBE) last announced its earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share 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 company had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.54 billion. During the same period in the previous year, the firm posted $3.52 earnings per share. The company’s revenue was up 11.1% on a year-over-year basis. On average, research analysts expect that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

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.