Adobe Inc. (NASDAQ:ADBE) Shares Sold by Transcend Capital Advisors LLC

Transcend Capital Advisors LLC cut its stake in Adobe Inc. (NASDAQ:ADBE) by 2.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,581 shares of the software company’s stock after selling 152 shares during the period. Transcend Capital Advisors LLC’s holdings in Adobe were worth $2,482,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in ADBE. Swedbank AB grew its holdings in Adobe by 0.3% in the 3rd quarter. Swedbank AB now owns 1,196,175 shares of the software company’s stock worth $619,355,000 after buying an additional 3,739 shares in the last quarter. McAdam LLC boosted its position in Adobe by 31.4% during the 3rd quarter. McAdam LLC now owns 498 shares of the software company’s stock worth $258,000 after acquiring an additional 119 shares during the period. YHB Investment Advisors Inc. grew its stake in shares of Adobe by 25.8% in the third quarter. YHB Investment Advisors Inc. now owns 1,200 shares of the software company’s stock worth $621,000 after purchasing an additional 246 shares in the last quarter. Romano Brothers AND Company increased its holdings in shares of Adobe by 10.8% during the third quarter. Romano Brothers AND Company now owns 1,385 shares of the software company’s stock valued at $717,000 after purchasing an additional 135 shares during the period. Finally, Mcdaniel Terry & Co. raised its stake in shares of Adobe by 2.5% during the third quarter. Mcdaniel Terry & Co. now owns 37,352 shares of the software company’s stock valued at $19,340,000 after purchasing an additional 924 shares in the last quarter. 81.79% of the stock is currently owned by institutional investors.

Adobe Stock Down 2.3 %

Shares of Adobe stock opened at $444.32 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 1 year low of $403.75 and a 1 year high of $587.75. The stock has a 50-day moving average price of $440.46 and a 200 day moving average price of $494.16. The company has a market cap of $193.41 billion, a P/E ratio of 35.83, a P/E/G ratio of 2.21 and a beta of 1.31.

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

Insider Activity at Adobe

In related news, EVP Scott Belsky sold 3,819 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $430.24, for a total value of $1,643,086.56. Following the completion of the sale, the executive vice president now owns 18,334 shares of the company’s stock, valued at approximately $7,888,020.16. The trade was a 17.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Jillian Forusz sold 334 shares of the firm’s stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $435.83, for a total transaction of $145,567.22. Following the transaction, the chief accounting officer now directly owns 2,685 shares in the company, valued at approximately $1,170,203.55. The trade was a 11.06 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,681 shares of company stock valued at $2,525,126. Insiders own 0.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Wells Fargo & Company decreased their target price on shares of Adobe from $700.00 to $640.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Oppenheimer decreased their price objective on shares of Adobe from $625.00 to $600.00 and set an “outperform” rating for the company in a report on Thursday, December 12th. Stifel Nicolaus dropped 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. UBS Group decreased their price target on Adobe from $525.00 to $475.00 and set a “neutral” rating for the company in a research note on Friday, January 3rd. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $475.00 price target (down from $600.00) on shares of Adobe in a research report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $570.88.

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.