Campbell Capital Management Inc. Sells 108 Shares of Adobe Inc. (NASDAQ:ADBE)

Campbell Capital Management Inc. lessened its position in Adobe Inc. (NASDAQ:ADBE) by 0.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,892 shares of the software company’s stock after selling 108 shares during the quarter. Adobe accounts for approximately 2.2% of Campbell Capital Management Inc.’s portfolio, making the stock its 16th largest holding. Campbell Capital Management Inc.’s holdings in Adobe were worth $5,733,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Poinciana Advisors Group LLC bought a new position in Adobe in the fourth quarter valued at $362,000. Hills Bank & Trust Co increased its stake in Adobe by 1.0% in the fourth quarter. Hills Bank & Trust Co now owns 7,299 shares of the software company’s stock valued at $3,246,000 after acquiring an additional 71 shares during the last quarter. Wellington Shields & Co. LLC increased its stake in Adobe by 4.1% in the fourth quarter. Wellington Shields & Co. LLC now owns 1,196 shares of the software company’s stock valued at $532,000 after acquiring an additional 47 shares during the last quarter. First National Trust Co grew its stake in shares of Adobe by 5.2% during the fourth quarter. First National Trust Co now owns 15,209 shares of the software company’s stock valued at $6,763,000 after buying an additional 748 shares during the last quarter. Finally, Postrock Partners LLC bought a new position in shares of Adobe during the fourth quarter valued at about $239,000. Institutional investors own 81.79% of the company’s stock.

Insider Activity

In related news, CAO Jillian Forusz sold 334 shares of the business’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 value of $145,567.22. Following the completion of the transaction, the chief accounting officer now directly owns 2,685 shares in the company, valued at $1,170,203.55. The trade was a 11.06 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David A. Ricks acquired 2,250 shares of the firm’s stock in a transaction that occurred on Tuesday, January 28th. The stock was purchased at an average price of $443.98 per share, with a total value of $998,955.00. Following the completion of the acquisition, the director now owns 4,984 shares in the company, valued at $2,212,796.32. The trade was a 82.30 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 5,075 shares of company stock worth $2,191,826. Insiders own 0.16% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ADBE. KeyCorp reduced their price objective on Adobe from $450.00 to $390.00 and set an “underweight” rating on the stock in a research note on Thursday. Bank of America reduced their price objective on Adobe from $605.00 to $528.00 and set a “buy” rating on the stock in a research note on Thursday. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $475.00 price objective (down from $600.00) on shares of Adobe in a research note on Wednesday, January 8th. Redburn Atlantic began coverage on Adobe in a research note on Wednesday, February 19th. They set a “neutral” rating on the stock. Finally, Citigroup reduced their price objective on Adobe from $551.00 to $490.00 and set a “neutral” rating on the stock in a research note on Monday, March 10th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $539.46.

Adobe Stock Performance

Shares of ADBE opened at $394.74 on Friday. 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 Inc. has a one year low of $374.50 and a one year high of $587.75. The company has a 50-day simple moving average of $437.03 and a two-hundred day simple moving average of $482.65. The firm has a market capitalization of $171.87 billion, a PE ratio of 31.83, a price-to-earnings-growth ratio of 2.15 and a beta of 1.37.

Adobe (NASDAQ:ADBE) last released its earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.97 by $0.11. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The firm had revenue of $5.71 billion during the quarter, compared to analyst estimates of $5.66 billion. During the same period last year, the business earned $4.48 earnings per share. On average, analysts anticipate that Adobe Inc. will post 16.65 EPS for the current fiscal 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.