Adobe Inc. (NASDAQ:ADBE) Shares Sold by Wimmer Associates 1 LLC

Wimmer Associates 1 LLC lowered its position in Adobe Inc. (NASDAQ:ADBE) by 0.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,209 shares of the software company’s stock after selling 90 shares during the period. Adobe makes up about 2.7% of Wimmer Associates 1 LLC’s investment portfolio, making the stock its 12th biggest position. Wimmer Associates 1 LLC’s holdings in Adobe were worth $5,429,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Two Sigma Advisers LP grew its holdings in shares of Adobe by 1,414.5% in the 4th quarter. Two Sigma Advisers LP now owns 889,000 shares of the software company’s stock worth $395,321,000 after acquiring an additional 830,300 shares during the period. Two Sigma Investments LP grew its holdings in Adobe by 128.7% during the 4th quarter. Two Sigma Investments LP now owns 452,880 shares of the software company’s stock valued at $201,387,000 after buying an additional 254,869 shares during the last quarter. Texas Bank & Trust Co purchased a new position in Adobe during the fourth quarter worth $1,038,000. Tolleson Wealth Management Inc. increased its position in Adobe by 13.9% during the fourth quarter. Tolleson Wealth Management Inc. now owns 2,603 shares of the software company’s stock worth $1,158,000 after buying an additional 318 shares in the last quarter. Finally, TrinityPoint Wealth LLC increased its position in Adobe by 17.2% during the fourth quarter. TrinityPoint Wealth LLC now owns 967 shares of the software company’s stock worth $430,000 after buying an additional 142 shares in the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Insider Transactions at Adobe

In other news, CFO Daniel Durn bought 1,300 shares of the firm’s stock in a transaction that occurred on Thursday, March 20th. The stock was acquired at an average price of $390.58 per share, with a total value of $507,754.00. Following the completion of the purchase, the chief financial officer now directly owns 29,876 shares of the company’s stock, valued at $11,668,968.08. This represents a 4.55% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.16% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on ADBE shares. Mizuho lowered their price objective on Adobe from $620.00 to $575.00 and set an “outperform” rating for the company in a research report on Thursday, March 13th. Redburn Atlantic started coverage on Adobe in a research report on Wednesday, February 19th. They issued a “neutral” rating for the company. Stifel Nicolaus lowered their price objective on Adobe from $600.00 to $525.00 and set a “buy” rating for the company in a research report on Thursday, March 13th. JPMorgan Chase & Co. reduced their target price on Adobe from $580.00 to $540.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Finally, Robert W. Baird reduced their target price on Adobe from $490.00 to $410.00 and set a “neutral” rating on the stock in a report on Wednesday, March 19th. Eleven equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $502.88.

Adobe Trading Up 3.1%

NASDAQ:ADBE opened at $417.13 on Monday. Adobe Inc. has a 1 year low of $332.01 and a 1 year high of $587.75. The stock has a market cap of $177.78 billion, a price-to-earnings ratio of 33.64, a PEG ratio of 2.15 and a beta of 1.55. The business has a fifty day moving average of $375.68 and a 200-day moving average of $433.63. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07.

Adobe (NASDAQ:ADBE) last released its quarterly earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.97 by $0.11. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The company had revenue of $5.71 billion during the quarter, compared to analysts’ expectations of $5.66 billion. During the same quarter in the prior year, the business posted $4.48 earnings per share. Equities analysts predict that Adobe Inc. will post 16.65 earnings per share for the current year.

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.