Lindenwold Advisors INC Sells 1,077 Shares of Adobe Inc. (NASDAQ:ADBE)

Lindenwold Advisors INC lowered its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 26.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,067 shares of the software company’s stock after selling 1,077 shares during the quarter. Lindenwold Advisors INC’s holdings in Adobe were worth $1,364,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Nordea Investment Management AB increased its stake in shares of Adobe by 2.0% during the 4th quarter. Nordea Investment Management AB now owns 1,712,616 shares of the software company’s stock worth $765,094,000 after purchasing an additional 33,414 shares during the last quarter. Arizona State Retirement System increased its position in Adobe by 0.4% in the fourth quarter. Arizona State Retirement System now owns 127,696 shares of the software company’s stock worth $56,784,000 after buying an additional 570 shares during the last quarter. Public Sector Pension Investment Board raised its stake in shares of Adobe by 12.2% in the third quarter. Public Sector Pension Investment Board now owns 19,322 shares of the software company’s stock valued at $10,005,000 after buying an additional 2,100 shares during the period. Jacobs Levy Equity Management Inc. lifted its position in shares of Adobe by 201.0% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 117,383 shares of the software company’s stock valued at $60,779,000 after buying an additional 78,384 shares during the last quarter. Finally, Morse Asset Management Inc grew its stake in shares of Adobe by 33.0% during the 3rd quarter. Morse Asset Management Inc now owns 8,519 shares of the software company’s stock worth $4,411,000 after acquiring an additional 2,113 shares during the period. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Insider Buying and Selling

In other Adobe news, EVP Scott Belsky sold 3,819 shares of the business’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $430.24, for a total value of $1,643,086.56. Following the sale, the executive vice president now directly owns 18,334 shares of the company’s stock, valued at approximately $7,888,020.16. The trade was a 17.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Jillian Forusz sold 334 shares of the firm’s 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 owns 2,685 shares of the company’s stock, valued at $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. Insiders have sold 5,075 shares of company stock worth $2,191,826 in the last 90 days. Insiders own 0.16% of the company’s stock.

Adobe Price Performance

ADBE opened at $391.37 on Wednesday. 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 company has a market cap of $170.40 billion, a price-to-earnings ratio of 31.56, a price-to-earnings-growth ratio of 2.15 and a beta of 1.37. The stock has a fifty day simple moving average of $435.77 and a two-hundred day simple moving average of $479.02. Adobe Inc. has a 12-month low of $374.50 and a 12-month high of $587.75.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.97 by $0.11. The company had revenue of $5.71 billion during the quarter, compared to analysts’ expectations of $5.66 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. During the same period last year, the company posted $4.48 EPS. Research analysts predict that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. TD Cowen cut Adobe from a “buy” rating to a “hold” rating and lowered their price objective for the company from $625.00 to $550.00 in a research note on Thursday, December 12th. Redburn Atlantic assumed coverage on shares of Adobe in a research report on Wednesday, February 19th. They issued a “neutral” rating on the stock. Piper Sandler cut their price objective on shares of Adobe from $635.00 to $600.00 and set an “overweight” rating for the company in a report on Thursday, December 12th. Deutsche Bank Aktiengesellschaft reiterated 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. Finally, Royal Bank of Canada dropped their target price on Adobe from $550.00 to $530.00 and set an “outperform” rating on the stock in a research report on Thursday, March 13th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Adobe has an average rating of “Moderate Buy” and a consensus price target of $542.00.

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.