Garde Capital Inc. Sells 58 Shares of Adobe Inc. (NASDAQ:ADBE)

Garde Capital Inc. cut its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 18.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 261 shares of the software company’s stock after selling 58 shares during the quarter. Garde Capital Inc.’s holdings in Adobe were worth $135,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. State Street Corp lifted its stake in shares of Adobe by 1.2% in the third quarter. State Street Corp now owns 20,270,287 shares of the software company’s stock worth $10,495,544,000 after acquiring an additional 234,909 shares during the period. Geode Capital Management LLC raised its holdings in Adobe by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 10,529,089 shares of the software company’s stock worth $5,435,377,000 after purchasing an additional 147,981 shares during the last quarter. FMR LLC lifted its position in shares of Adobe by 8.8% in the 3rd quarter. FMR LLC now owns 9,690,163 shares of the software company’s stock worth $5,017,373,000 after purchasing an additional 787,356 shares during the period. Fisher Asset Management LLC boosted its stake in shares of Adobe by 2.0% in the 3rd quarter. Fisher Asset Management LLC now owns 4,859,584 shares of the software company’s stock valued at $2,516,196,000 after purchasing an additional 93,143 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Adobe by 3.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,741,549 shares of the software company’s stock worth $2,455,079,000 after buying an additional 140,390 shares during the last quarter. Institutional investors own 81.79% of the company’s stock.

Insider Activity

In related news, CFO Daniel Durn sold 6,500 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $515.44, for a total transaction of $3,350,360.00. Following the sale, the chief financial officer now directly owns 20,838 shares of the company’s stock, valued at $10,740,738.72. This trade represents a 23.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at 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 sale, the director now directly owns 32,929 shares in the company, valued at approximately $18,110,950. The trade was a 1.81 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,793 shares of company stock worth $18,069,669. Insiders own 0.15% of the company’s stock.

Adobe Stock Down 13.7 %

Shares of NASDAQ ADBE opened at $474.63 on Friday. The firm has a fifty day simple moving average of $505.99 and a two-hundred day simple moving average of $523.02. The firm has a market capitalization of $208.93 billion, a PE ratio of 38.28, a price-to-earnings-growth ratio of 2.51 and a beta of 1.29. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.28. Adobe Inc. has a 12 month low of $433.97 and a 12 month high of $638.25.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.67 by $0.14. The business had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.54 billion. Adobe had a return on equity of 45.22% and a net margin of 25.85%. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.52 earnings per share. Equities analysts expect that Adobe Inc. will post 16.73 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. 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 report on Thursday. Argus upgraded Adobe to a “strong-buy” rating in a report on Monday, September 16th. Oppenheimer reduced their price objective on Adobe from $625.00 to $600.00 and set an “outperform” rating for the company in a research note on Thursday. JMP Securities reiterated a “market perform” rating on shares of Adobe in a research note on Thursday. Finally, Jefferies Financial Group cut their target price on shares of Adobe from $700.00 to $650.00 and set a “buy” rating for the company in a research report on Thursday. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $584.88.

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.