Adobe Inc. (NASDAQ:ADBE) Shares Sold by Bradley Foster & Sargent Inc. CT

Bradley Foster & Sargent Inc. CT cut its stake in Adobe Inc. (NASDAQ:ADBE) by 4.7% in the fourth quarter, HoldingsChannel reports. The firm owned 176,830 shares of the software company’s stock after selling 8,753 shares during the quarter. Adobe makes up about 1.3% of Bradley Foster & Sargent Inc. CT’s investment portfolio, making the stock its 19th biggest position. Bradley Foster & Sargent Inc. CT’s holdings in Adobe were worth $78,633,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Swedbank AB increased its holdings in Adobe by 0.3% in the third quarter. Swedbank AB now owns 1,196,175 shares of the software company’s stock valued at $619,355,000 after buying an additional 3,739 shares during the last quarter. Sequoia Financial Advisors LLC boosted its position in shares of Adobe by 8.7% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 8,157 shares of the software company’s stock worth $4,223,000 after acquiring an additional 654 shares in the last quarter. Tempus Wealth Planning LLC increased its holdings in shares of Adobe by 6.6% in the 3rd quarter. Tempus Wealth Planning LLC now owns 402 shares of the software company’s stock valued at $208,000 after acquiring an additional 25 shares during the last quarter. Fulcrum Capital LLC raised its position in shares of Adobe by 0.7% during the 3rd quarter. Fulcrum Capital LLC now owns 24,710 shares of the software company’s stock worth $12,794,000 after acquiring an additional 160 shares in the last quarter. Finally, McAdam LLC lifted its stake in Adobe by 31.4% during the third quarter. McAdam LLC now owns 498 shares of the software company’s stock worth $258,000 after purchasing an additional 119 shares during the last quarter. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on ADBE shares. UBS Group reduced their price objective on shares of Adobe from $525.00 to $475.00 and set a “neutral” rating for the company in a research report on Friday, January 3rd. StockNews.com downgraded shares of Adobe from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Citigroup cut their target price on Adobe from $616.00 to $590.00 and set a “neutral” rating on the stock in a research report on Monday, December 9th. Jefferies Financial Group dropped their price target on Adobe from $700.00 to $650.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. Finally, Redburn Atlantic started coverage on Adobe in a research note on Wednesday. They issued a “neutral” rating for the company. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $570.88.

Insider Buying and Selling at Adobe

In other Adobe news, Director David A. Ricks acquired 2,250 shares of the company’s stock in a transaction dated Tuesday, January 28th. The stock was acquired at an average cost of $443.98 per share, with a total value of $998,955.00. Following the purchase, the director now directly owns 4,984 shares in the company, valued at approximately $2,212,796.32. This trade represents a 82.30 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, CAO Jillian Forusz sold 334 shares of Adobe stock in a transaction that occurred on Tuesday, January 28th. The stock was 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. This represents a 11.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,681 shares of company stock valued at $2,525,126. Insiders own 0.15% of the company’s stock.

Adobe Stock Down 0.5 %

ADBE stock opened at $454.69 on Friday. 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’s 50-day moving average price is $440.89 and its 200 day moving average price is $494.61. Adobe Inc. has a 52 week low of $403.75 and a 52 week high of $587.75. The company has a market cap of $197.93 billion, a P/E ratio of 36.67, a P/E/G ratio of 2.25 and a beta of 1.31.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.67 by $0.14. The company had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.54 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period last year, the firm earned $3.52 EPS. On average, research analysts expect that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

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.