C WorldWide Group Holding A S Sells 55,394 Shares of Adobe Inc. (NASDAQ:ADBE)

C WorldWide Group Holding A S lowered its position in shares of Adobe Inc. (NASDAQ:ADBE) by 7.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 655,500 shares of the software company’s stock after selling 55,394 shares during the period. Adobe comprises about 3.6% of C WorldWide Group Holding A S’s portfolio, making the stock its 13th biggest position. C WorldWide Group Holding A S owned about 0.15% of Adobe worth $291,488,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ADBE. Swedbank AB grew its position in Adobe by 0.3% during the 3rd quarter. Swedbank AB now owns 1,196,175 shares of the software company’s stock worth $619,355,000 after acquiring an additional 3,739 shares during the last quarter. Arkadios Wealth Advisors lifted its holdings in Adobe by 10.7% during the 3rd quarter. Arkadios Wealth Advisors now owns 2,619 shares of the software company’s stock worth $1,356,000 after buying an additional 254 shares during the period. Consolidated Portfolio Review Corp lifted its holdings in Adobe by 5.7% during the 3rd quarter. Consolidated Portfolio Review Corp now owns 651 shares of the software company’s stock worth $337,000 after buying an additional 35 shares during the period. Modera Wealth Management LLC lifted its holdings in Adobe by 2.7% during the 3rd quarter. Modera Wealth Management LLC now owns 20,746 shares of the software company’s stock worth $10,742,000 after buying an additional 549 shares during the period. Finally, Mattern Capital Management LLC lifted its holdings in Adobe by 10.9% during the 3rd quarter. Mattern Capital Management LLC now owns 1,312 shares of the software company’s stock worth $679,000 after buying an additional 129 shares during the period. Institutional investors own 81.79% of the company’s stock.

Adobe Stock Performance

Shares of Adobe stock opened at $444.32 on Monday. The company has a market cap of $193.41 billion, a PE ratio of 35.83, a price-to-earnings-growth ratio of 2.20 and a beta of 1.31. Adobe Inc. has a 52 week low of $403.75 and a 52 week high of $587.75. The business has a 50 day moving average price of $440.46 and a 200-day moving average price of $493.88. 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 (NASDAQ:ADBE) last issued its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 EPS 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 the consensus estimate 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 prior year, the business posted $3.52 earnings per share. Equities analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ADBE has been the topic of several recent research reports. Piper Sandler cut their target price on Adobe from $635.00 to $600.00 and set an “overweight” rating on the stock in a report on Thursday, December 12th. Redburn Atlantic initiated coverage on Adobe in a report on Wednesday, February 19th. They set a “neutral” rating on the stock. Sanford C. Bernstein cut their target price on Adobe from $644.00 to $587.00 and set an “outperform” rating on the stock in a report on Thursday, December 12th. Oppenheimer cut their target price on Adobe from $625.00 to $600.00 and set an “outperform” rating on the stock in a report on Thursday, December 12th. Finally, StockNews.com downgraded Adobe from a “strong-buy” rating to a “buy” rating in a research note on Thursday. One 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. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $570.88.

Insider Transactions at Adobe

In other news, CAO Jillian Forusz sold 334 shares of the 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 completion of the sale, the chief accounting officer now directly 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Amy Banse sold 606 shares of the stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $550.00, for a total value of $333,300.00. Following the sale, the director now directly owns 32,929 shares of the company’s stock, valued at $18,110,950. The trade was 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 valued at $2,525,126 over the last ninety days. 0.15% of the stock is currently owned by insiders.

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.