Adobe Inc. (NASDAQ:ADBE) Shares Sold by Northstar Asset Management Inc.

Northstar Asset Management Inc. lessened its position in shares of Adobe Inc. (NASDAQ:ADBE) by 1.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,557 shares of the software company’s stock after selling 190 shares during the period. Adobe makes up 1.6% of Northstar Asset Management Inc.’s portfolio, making the stock its 29th biggest position. Northstar Asset Management Inc.’s holdings in Adobe were worth $6,029,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ADBE. Swedbank AB boosted its position in Adobe by 0.3% during the 3rd quarter. Swedbank AB now owns 1,196,175 shares of the software company’s stock worth $619,355,000 after acquiring an additional 3,739 shares during the period. Vest Financial LLC boosted its stake in shares of Adobe by 217.2% during the 3rd quarter. Vest Financial LLC now owns 2,281 shares of the software company’s stock worth $1,181,000 after acquiring an additional 1,562 shares in the last quarter. Compass Ion Advisors LLC bought a new position in shares of Adobe in the third quarter worth about $285,000. Godsey & Gibb Inc. increased its position in shares of Adobe by 9.2% during the third quarter. Godsey & Gibb Inc. now owns 284 shares of the software company’s stock valued at $147,000 after purchasing an additional 24 shares during the period. Finally, Violich Capital Management Inc. boosted its position in shares of Adobe by 0.5% during the 3rd quarter. Violich Capital Management Inc. now owns 4,776 shares of the software company’s stock valued at $2,473,000 after acquiring an additional 25 shares in the last quarter. 81.79% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. DA Davidson dropped their target price on Adobe from $685.00 to $625.00 and set a “buy” rating for the company in a report on Thursday, December 12th. UBS Group cut their price objective on Adobe from $525.00 to $475.00 and set a “neutral” rating for the company in a report on Friday, January 3rd. Barclays lowered their target price on shares of Adobe from $675.00 to $645.00 and set an “overweight” rating on the stock in a report on Thursday, December 12th. Royal Bank of Canada restated an “outperform” rating and issued a $590.00 price target on shares of Adobe in a research report on Thursday, February 13th. Finally, Oppenheimer dropped 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. One analyst has rated the stock with a sell rating, ten have given a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Adobe has an average rating of “Moderate Buy” and an average price target of $573.00.

Adobe Trading Up 0.2 %

Shares of ADBE opened at $460.16 on Tuesday. The business’s fifty day moving average is $446.56 and its 200-day moving average is $496.20. The firm has a market cap of $200.31 billion, a price-to-earnings ratio of 37.11, a PEG ratio of 2.11 and a beta of 1.31. 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 Inc. has a 52-week low of $403.75 and a 52-week high of $607.32.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.67 by $0.14. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The company had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.54 billion. During the same period in the prior year, the business earned $3.52 earnings per share. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. Equities analysts anticipate that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Insider Buying and Selling at Adobe

In related news, Director Amy Banse sold 606 shares of the business’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $550.00, for a total transaction of $333,300.00. Following the transaction, the director now owns 32,929 shares in the company, valued at $18,110,950. The trade was a 1.81 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Scott Belsky sold 922 shares of the company’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $437.28, for a total value of $403,172.16. Following the transaction, the executive vice president now directly owns 22,153 shares in the company, valued at approximately $9,687,063.84. This trade represents a 4.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, 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.