Longview Partners Guernsey LTD Sells 49,231 Shares of Adobe Inc. (NASDAQ:ADBE)

Longview Partners Guernsey LTD trimmed its stake in Adobe Inc. (NASDAQ:ADBE) by 4.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,141,686 shares of the software company’s stock after selling 49,231 shares during the period. Adobe makes up approximately 3.8% of Longview Partners Guernsey LTD’s portfolio, making the stock its 15th biggest holding. Longview Partners Guernsey LTD’s holdings in Adobe were worth $507,685,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of ADBE. Decker Retirement Planning Inc. bought a new stake in shares of Adobe during the 4th quarter worth $31,000. Summit Securities Group LLC bought a new stake in Adobe during the fourth quarter worth about $31,000. Caitlin John LLC boosted its holdings in shares of Adobe by 171.4% in the 4th quarter. Caitlin John LLC now owns 76 shares of the software company’s stock worth $34,000 after purchasing an additional 48 shares in the last quarter. Avion Wealth increased its position in shares of Adobe by 112.2% during the 4th quarter. Avion Wealth now owns 87 shares of the software company’s stock valued at $38,000 after purchasing an additional 46 shares during the last quarter. Finally, Mascoma Wealth Management LLC raised its holdings in shares of Adobe by 142.9% during the 4th quarter. Mascoma Wealth Management LLC now owns 85 shares of the software company’s stock valued at $38,000 after buying an additional 50 shares in the last quarter. 81.79% of the stock is owned by hedge funds and other institutional investors.

Adobe Trading Down 1.8 %

ADBE opened at $344.19 on Thursday. The stock has a market cap of $146.69 billion, a PE ratio of 27.76, a PEG ratio of 2.15 and a beta of 1.49. The business has a 50 day moving average of $407.79 and a 200-day moving average of $452.66. Adobe Inc. has a 52 week low of $332.01 and a 52 week high of $587.75. 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 announced its earnings results on Wednesday, March 12th. The software company reported $5.08 EPS for the quarter, beating analysts’ consensus estimates of $4.97 by $0.11. The firm had revenue of $5.71 billion for the quarter, compared to analysts’ expectations of $5.66 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. During the same quarter in the previous year, the business posted $4.48 EPS. Equities research analysts predict that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ADBE has been the topic of a number of recent research reports. Summit Redstone set a $410.00 price target on shares of Adobe in a research report on Wednesday, March 19th. Citigroup reduced their target price on shares of Adobe from $551.00 to $490.00 and set a “neutral” rating on the stock in a report on Monday, March 10th. Bank of America cut their price target on shares of Adobe from $605.00 to $528.00 and set a “buy” rating for the company in a research report on Thursday, March 13th. Jefferies Financial Group reduced their price objective on Adobe from $650.00 to $590.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. Finally, Evercore ISI lowered their target price on Adobe from $650.00 to $550.00 and set an “outperform” rating for the company in a research note on Thursday, March 13th. Eleven investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $513.27.

Insider Buying and Selling

In other 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 sale, the executive vice president now directly owns 18,334 shares of the company’s stock, valued at $7,888,020.16. The trade was a 17.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Daniel Durn purchased 1,300 shares of the business’s stock in a transaction that occurred on Thursday, March 20th. The stock was bought at an average price of $390.58 per share, for a total transaction of $507,754.00. Following the purchase, the chief financial officer now directly owns 29,876 shares in the company, valued at $11,668,968.08. The trade was a 4.55 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 5,075 shares of company stock valued at $2,191,826 over the last quarter. Corporate insiders own 0.16% of the company’s stock.

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.