Cordatus Wealth Management LLC Reduces Stake in Adobe Inc. (NASDAQ:ADBE)

Cordatus Wealth Management LLC lowered its position in Adobe Inc. (NASDAQ:ADBE) by 30.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,302 shares of the software company’s stock after selling 2,709 shares during the period. Cordatus Wealth Management LLC’s holdings in Adobe were worth $2,802,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of ADBE. Swedbank AB boosted its position 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 Adobe by 8.7% in the third quarter. Sequoia Financial Advisors LLC now owns 8,157 shares of the software company’s stock valued at $4,223,000 after buying an additional 654 shares during the last quarter. Tempus Wealth Planning LLC lifted its holdings in Adobe by 6.6% in the third 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 period. Fulcrum Capital LLC lifted its holdings in Adobe by 0.7% in the third quarter. Fulcrum Capital LLC now owns 24,710 shares of the software company’s stock valued at $12,794,000 after acquiring an additional 160 shares during the period. Finally, McAdam LLC lifted its holdings in Adobe by 31.4% in the third quarter. McAdam LLC now owns 498 shares of the software company’s stock valued at $258,000 after acquiring an additional 119 shares during the period. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on ADBE shares. Oppenheimer decreased their price target on Adobe from $625.00 to $600.00 and set an “outperform” rating for the company in a report on Thursday, December 12th. Mizuho decreased their price target on Adobe from $640.00 to $620.00 and set an “outperform” rating for the company in a report on Thursday, December 12th. Wells Fargo & Company decreased their price target on Adobe from $700.00 to $640.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Redburn Atlantic started coverage on Adobe in a report on Wednesday. They issued a “neutral” rating for the company. Finally, BMO Capital Markets decreased their price target on Adobe from $570.00 to $515.00 and set an “outperform” rating for the company in a report on Wednesday. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Adobe has a consensus rating of “Moderate Buy” and an average target price of $570.88.

Adobe Stock Down 0.5 %

NASDAQ ADBE opened at $454.69 on Friday. The business has a fifty day moving average price of $440.89 and a 200 day moving average price of $494.61. Adobe Inc. has a one year low of $403.75 and a one year high of $587.75. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07. 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 issued its earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.67 by $0.14. The company 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 firm’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the business earned $3.52 EPS. Research analysts anticipate that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Insider Buying and Selling at Adobe

In other news, EVP Scott Belsky sold 922 shares of the stock in a transaction on 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 transaction, the executive vice president now directly owns 22,153 shares in the company, valued at approximately $9,687,063.84. This represents a 4.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Amy Banse sold 606 shares of the 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 transaction, the director now owns 32,929 shares of the company’s stock, valued at approximately $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 sold a total of 5,681 shares of company stock worth $2,525,126 in the last three months. 0.15% of the stock is owned by corporate insiders.

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.