Tiemann Investment Advisors LLC Sells 43 Shares of Adobe Inc. (NASDAQ:ADBE)

Tiemann Investment Advisors LLC cut its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 5.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 757 shares of the software company’s stock after selling 43 shares during the quarter. Tiemann Investment Advisors LLC’s holdings in Adobe were worth $337,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Legacy Investment Solutions LLC bought a new stake in shares of Adobe during the 3rd quarter valued at $26,000. Groupama Asset Managment raised its stake in Adobe by 28.8% in the third quarter. Groupama Asset Managment now owns 51,482 shares of the software company’s stock valued at $27,000 after purchasing an additional 11,522 shares in the last quarter. MidAtlantic Capital Management Inc. bought a new stake in Adobe during the third quarter worth about $30,000. True Wealth Design LLC grew its stake in Adobe by 141.7% during the third quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock worth $30,000 after buying an additional 34 shares in the last quarter. Finally, Decker Retirement Planning Inc. bought a new position in Adobe in the 4th quarter valued at about $31,000. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Royal Bank of Canada cut their price target on shares of Adobe from $590.00 to $550.00 and set an “outperform” rating for the company in a report on Friday. Stifel Nicolaus reduced their target price on Adobe from $650.00 to $600.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. BNP Paribas upgraded Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 price target on the stock in a research note on Wednesday, January 15th. Mizuho dropped their price objective on Adobe from $640.00 to $620.00 and set an “outperform” rating for the company in a research report on Thursday, December 12th. Finally, BMO Capital Markets decreased their target price on Adobe from $570.00 to $515.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $567.81.

Adobe Price Performance

Shares of NASDAQ ADBE opened at $449.40 on Monday. The company has a market capitalization of $195.67 billion, a PE ratio of 36.24, a P/E/G ratio of 2.15 and a beta of 1.37. 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 Inc. has a twelve month low of $403.75 and a twelve month high of $587.75. The firm has a fifty day simple moving average of $439.56 and a 200 day simple moving average of $486.60.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 earnings per share for the quarter, topping 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 analyst estimates of $5.54 billion. During the same period last year, the company posted $3.52 EPS. The business’s quarterly revenue was up 11.1% on a year-over-year basis. On average, sell-side analysts forecast that Adobe Inc. will post 16.65 EPS for the current year.

Insider Buying and Selling at Adobe

In other news, Director David A. Ricks purchased 2,250 shares of the business’s stock in a transaction on Tuesday, January 28th. The shares were acquired at an average price of $443.98 per share, for a total transaction of $998,955.00. Following the completion of the acquisition, the director now owns 4,984 shares in the company, valued at approximately $2,212,796.32. The trade was a 82.30 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Scott Belsky sold 922 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $437.28, for a total value of $403,172.16. Following the sale, the executive vice president now owns 22,153 shares of the company’s stock, valued at approximately $9,687,063.84. This represents a 4.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,075 shares of company stock valued at $2,191,826. 0.15% of the stock is currently owned by company 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.