Appleton Partners Inc. MA Sells 132 Shares of Adobe Inc. (NASDAQ:ADBE)

Appleton Partners Inc. MA trimmed its holdings in Adobe Inc. (NASDAQ:ADBE) by 3.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,789 shares of the software company’s stock after selling 132 shares during the quarter. Appleton Partners Inc. MA’s holdings in Adobe were worth $1,685,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Piscataqua Savings Bank raised its position in shares of Adobe by 226.7% during the third quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock valued at $25,000 after buying an additional 34 shares during the last quarter. Legacy Investment Solutions LLC acquired a new stake in Adobe during the third quarter worth about $26,000. Groupama Asset Managment increased its stake in Adobe by 28.8% during the third quarter. Groupama Asset Managment now owns 51,482 shares of the software company’s stock valued at $27,000 after acquiring an additional 11,522 shares during the period. MidAtlantic Capital Management Inc. acquired a new position in Adobe in the 3rd quarter valued at approximately $30,000. Finally, True Wealth Design LLC lifted its position in shares of Adobe by 141.7% in the 3rd quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock worth $30,000 after acquiring an additional 34 shares during the period. Institutional investors own 81.79% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on ADBE shares. JMP Securities restated a “market perform” rating on shares of Adobe in a research report on Thursday, December 12th. Royal Bank of Canada dropped their price objective on shares of Adobe from $610.00 to $590.00 and set an “outperform” rating for the company in a research note on Thursday, December 12th. Wells Fargo & Company decreased their target price on shares of Adobe from $700.00 to $640.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. BMO Capital Markets dropped their price target 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. Finally, StockNews.com upgraded Adobe from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $573.00.

Adobe Trading Down 0.5 %

ADBE stock opened at $433.07 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29. Adobe Inc. has a twelve month low of $403.75 and a twelve month high of $628.07. The company has a market cap of $188.52 billion, a P/E ratio of 34.93, a PEG ratio of 2.12 and a beta of 1.31. The business has a fifty day moving average of $455.58 and a 200-day moving average of $500.48.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 earnings per share for the quarter, topping the consensus estimate of $4.67 by $0.14. The firm had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.54 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the business posted $3.52 EPS. As a group, equities research analysts expect that Adobe Inc. will post 16.65 EPS for the current year.

Insider Activity at Adobe

In other Adobe news, CAO Jillian Forusz sold 334 shares of the company’s stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $435.83, for a total transaction of $145,567.22. Following the completion of the sale, 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Amy Banse sold 606 shares of the firm’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $550.00, for a total value of $333,300.00. Following the completion of the transaction, the director now owns 32,929 shares in the company, valued at $18,110,950. This represents a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,681 shares of company stock worth $2,525,126 over the last ninety days. Company insiders own 0.15% of the company’s stock.

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.