Adobe Inc. (NASDAQ:ADBE) Shares Sold by Hardman Johnston Global Advisors LLC

Hardman Johnston Global Advisors LLC cut its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 2.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 76,466 shares of the software company’s stock after selling 1,829 shares during the period. Adobe makes up about 1.4% of Hardman Johnston Global Advisors LLC’s portfolio, making the stock its 25th largest holding. Hardman Johnston Global Advisors LLC’s holdings in Adobe were worth $34,003,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. FMR LLC lifted its stake in Adobe by 8.8% in the 3rd quarter. FMR LLC now owns 9,690,163 shares of the software company’s stock valued at $5,017,373,000 after buying an additional 787,356 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Adobe by 42.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,168,584 shares of the software company’s stock valued at $519,646,000 after acquiring an additional 347,536 shares in the last quarter. Seilern Investment Management Ltd acquired a new stake in shares of Adobe in the fourth quarter worth approximately $110,744,000. Erste Asset Management GmbH acquired a new position in Adobe in the 3rd quarter valued at $126,703,000. Finally, State Street Corp lifted its holdings in Adobe by 1.2% in the 3rd quarter. State Street Corp now owns 20,270,287 shares of the software company’s stock valued at $10,495,544,000 after purchasing an additional 234,909 shares in the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Insider Buying and Selling at Adobe

In other news, Director Amy Banse sold 606 shares of the firm’s stock in a transaction that occurred 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 sale, the director now directly owns 32,929 shares of the company’s stock, valued at $18,110,950. This trade represents a 1.81 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Jillian Forusz sold 334 shares of the business’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total transaction of $145,567.22. Following the sale, the chief accounting officer now owns 2,685 shares in the company, 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. In the last three months, insiders have sold 5,681 shares of company stock valued at $2,525,126. 0.15% of the stock is owned by company insiders.

Adobe Price Performance

Shares of NASDAQ:ADBE opened at $444.32 on Monday. The firm has a market capitalization of $193.41 billion, a P/E ratio of 35.83, a P/E/G ratio of 2.20 and a beta of 1.31. Adobe Inc. has a 12 month low of $403.75 and a 12 month high of $587.75. The company’s fifty day moving average price is $440.46 and its 200 day moving average price is $493.88. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07.

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

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $475.00 price objective (down previously from $600.00) on shares of Adobe in a research note on Wednesday, January 8th. Stifel Nicolaus dropped their price target on Adobe from $650.00 to $600.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. BNP Paribas upgraded Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 price objective on the stock in a research report on Wednesday, January 15th. Oppenheimer dropped their target price on Adobe from $625.00 to $600.00 and set an “outperform” rating for the company in a report on Thursday, December 12th. Finally, Citigroup reduced their price target on Adobe from $616.00 to $590.00 and set a “neutral” rating on the stock in a report on Monday, December 9th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $570.88.

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.