Valley Brook Capital Group Inc. Sells 404 Shares of Adobe Inc. (NASDAQ:ADBE)

Valley Brook Capital Group Inc. lessened its position in Adobe Inc. (NASDAQ:ADBE) by 17.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,925 shares of the software company’s stock after selling 404 shares during the quarter. Valley Brook Capital Group Inc.’s holdings in Adobe were worth $856,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Capital Advisors Inc. OK lifted its holdings in Adobe by 34.4% during the 4th quarter. Capital Advisors Inc. OK now owns 672 shares of the software company’s stock valued at $299,000 after buying an additional 172 shares in the last quarter. Certuity LLC lifted its holdings in Adobe by 25.3% during the 4th quarter. Certuity LLC now owns 4,467 shares of the software company’s stock valued at $1,986,000 after buying an additional 902 shares in the last quarter. Community Financial Services Group LLC lifted its holdings in Adobe by 4.7% during the 4th quarter. Community Financial Services Group LLC now owns 11,948 shares of the software company’s stock valued at $5,313,000 after buying an additional 535 shares in the last quarter. Signet Investment Advisory Group Inc. lifted its holdings in Adobe by 3.5% during the 4th quarter. Signet Investment Advisory Group Inc. now owns 8,659 shares of the software company’s stock valued at $3,850,000 after buying an additional 296 shares in the last quarter. Finally, TCV Trust & Wealth Management Inc. lifted its holdings in Adobe by 3.1% during the 4th quarter. TCV Trust & Wealth Management Inc. now owns 28,720 shares of the software company’s stock valued at $12,771,000 after buying an additional 868 shares in the last quarter. Institutional investors own 81.79% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on ADBE. StockNews.com upgraded shares of Adobe from a “buy” rating to a “strong-buy” rating in a report on Tuesday, January 28th. 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. Wells Fargo & Company decreased their price objective on shares of Adobe from $700.00 to $640.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Royal Bank of Canada reduced their price target on shares of Adobe from $610.00 to $590.00 and set an “outperform” rating for the company in a report on Thursday, December 12th. Finally, Stifel Nicolaus reduced their price target on shares of Adobe from $650.00 to $600.00 and set a “buy” rating for the company in a report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Adobe has an average rating of “Moderate Buy” and a consensus price target of $573.00.

Adobe Stock Up 1.7 %

ADBE opened at $458.82 on Wednesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. The stock has a market capitalization of $199.72 billion, a price-to-earnings ratio of 37.00, a price-to-earnings-growth ratio of 2.11 and a beta of 1.31. The business has a 50-day moving average of $452.62 and a two-hundred day moving average of $498.52. Adobe Inc. has a 12 month low of $403.75 and a 12 month high of $626.34.

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

Insider Transactions at Adobe

In other news, Director Amy Banse sold 606 shares of the business’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $550.00, for a total transaction of $333,300.00. Following the completion of the sale, the director now owns 32,929 shares in the company, valued at approximately $18,110,950. The trade was a 1.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Scott Belsky sold 3,819 shares of the business’s stock in a transaction dated 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 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 disclosure for this sale can be found here. In the last quarter, insiders sold 5,681 shares of company stock worth $2,525,126. 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.