Adobe Inc. (NASDAQ:ADBE) Shares Sold by Cutter & CO Brokerage Inc.

Cutter & CO Brokerage Inc. trimmed its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 5.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 520 shares of the software company’s stock after selling 30 shares during the quarter. Cutter & CO Brokerage Inc.’s holdings in Adobe were worth $231,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. JFG Wealth Management LLC purchased a new position in Adobe during the fourth quarter worth about $730,000. Kirtland Hills Capital Management LLC lifted its holdings in shares of Adobe by 61.8% in the 4th quarter. Kirtland Hills Capital Management LLC now owns 1,272 shares of the software company’s stock worth $566,000 after acquiring an additional 486 shares during the last quarter. ARK Investment Management LLC boosted its position in shares of Adobe by 219.9% during the 4th quarter. ARK Investment Management LLC now owns 483 shares of the software company’s stock worth $215,000 after purchasing an additional 332 shares during the period. FFT Wealth Management LLC increased its holdings in Adobe by 5.1% in the 4th quarter. FFT Wealth Management LLC now owns 1,145 shares of the software company’s stock valued at $509,000 after purchasing an additional 56 shares during the last quarter. Finally, Longbow Finance SA raised its position in Adobe by 5.0% in the fourth quarter. Longbow Finance SA now owns 14,170 shares of the software company’s stock valued at $6,301,000 after purchasing an additional 671 shares during the period. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Adobe Stock Performance

NASDAQ ADBE opened at $441.50 on Thursday. The company has a fifty day moving average of $439.88 and a two-hundred day moving average of $492.27. The company has a market capitalization of $192.18 billion, a PE ratio of 35.60, a P/E/G ratio of 2.15 and a beta of 1.31. Adobe Inc. has a 1 year low of $403.75 and a 1 year high of $587.75. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07.

Adobe (NASDAQ:ADBE) last announced its earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.67 by $0.14. The firm 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 business’s revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the firm earned $3.52 EPS. As a group, 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 Adobe stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $550.00, for a total value of $333,300.00. Following the sale, the director now owns 32,929 shares of the company’s stock, valued at $18,110,950. The trade was a 1.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Jillian Forusz sold 334 shares of the business’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total transaction of $145,567.22. Following the transaction, the chief accounting officer now owns 2,685 shares in the company, valued at approximately $1,170,203.55. This trade represents a 11.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,681 shares of company stock worth $2,525,126. Company insiders own 0.15% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on ADBE shares. Redburn Atlantic assumed coverage on Adobe in a research report on Wednesday, February 19th. They set a “neutral” rating for the company. Bank of America lowered their target price on Adobe from $640.00 to $605.00 and set a “buy” rating for the company in a report on Thursday, December 12th. Barclays cut their price target on shares of Adobe from $675.00 to $645.00 and set an “overweight” rating on the stock in a research note on Thursday, December 12th. Oppenheimer lowered their price objective on shares of Adobe from $625.00 to $600.00 and set an “outperform” rating for the company in a research note on Thursday, December 12th. Finally, Piper Sandler cut their target price on shares of Adobe from $635.00 to $600.00 and set an “overweight” rating on the stock in a research note on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target 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.