Knights of Columbus Asset Advisors LLC Sells 1,253 Shares of Adobe Inc. (NASDAQ:ADBE)

Knights of Columbus Asset Advisors LLC decreased its position in Adobe Inc. (NASDAQ:ADBE) by 8.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 12,839 shares of the software company’s stock after selling 1,253 shares during the quarter. Knights of Columbus Asset Advisors LLC’s holdings in Adobe were worth $5,709,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Legacy Investment Solutions LLC bought a new position in Adobe in the third quarter worth $26,000. Groupama Asset Managment raised its holdings in Adobe by 28.8% in the third quarter. Groupama Asset Managment now owns 51,482 shares of the software company’s stock worth $27,000 after purchasing an additional 11,522 shares in the last quarter. True Wealth Design LLC raised its holdings in Adobe by 141.7% in the third quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock worth $30,000 after purchasing an additional 34 shares in the last quarter. Decker Retirement Planning Inc. bought a new position in Adobe in the fourth quarter worth $31,000. Finally, Caitlin John LLC increased its holdings in shares of Adobe by 171.4% during the fourth quarter. Caitlin John LLC now owns 76 shares of the software company’s stock valued at $34,000 after acquiring an additional 48 shares in the last quarter. Institutional investors own 81.79% of the company’s stock.

Adobe Price Performance

NASDAQ ADBE opened at $387.26 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. Adobe Inc. has a 12 month low of $374.50 and a 12 month high of $587.75. The stock has a market cap of $168.62 billion, a price-to-earnings ratio of 31.23, a PEG ratio of 2.15 and a beta of 1.37. The company’s 50 day moving average is $434.16 and its two-hundred day moving average is $476.46.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Wednesday, March 12th. The software company reported $5.08 EPS for the quarter, beating the consensus estimate of $4.97 by $0.11. The firm had revenue of $5.71 billion for the quarter, compared to the consensus estimate of $5.66 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. During the same period last year, the firm earned $4.48 EPS. As a group, research analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current year.

Insider Activity

In related news, EVP Scott Belsky sold 922 shares of the stock in a transaction dated 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 sale, the executive vice president now owns 22,153 shares in the company, valued at approximately $9,687,063.84. This trade represents a 4.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Jillian Forusz sold 334 shares of the stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total value of $145,567.22. Following the sale, 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 position. The disclosure for this sale can be found here. Insiders have sold 5,075 shares of company stock worth $2,191,826 over the last ninety days. Corporate insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Sanford C. Bernstein lowered their price target on Adobe from $644.00 to $587.00 and set an “outperform” rating for the company in a research report on Thursday, December 12th. UBS Group set a $495.00 price target on Adobe in a research report on Thursday, March 13th. BMO Capital Markets lowered their price target on Adobe from $515.00 to $495.00 and set an “outperform” rating for the company in a research report on Thursday, March 13th. BNP Paribas raised Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 price target for the company in a research report on Wednesday, January 15th. Finally, KeyCorp raised Adobe from an “underweight” rating to a “sector weight” rating in a research report on Friday. Eleven equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $538.80.

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.