Bouvel Investment Partners LLC Cuts Stock Position in Adobe Inc. (NASDAQ:ADBE)

Bouvel Investment Partners LLC lessened its holdings in Adobe Inc. (NASDAQ:ADBE) by 4.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,938 shares of the software company’s stock after selling 209 shares during the quarter. Bouvel Investment Partners LLC’s holdings in Adobe were worth $2,196,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Fermata Advisors LLC increased its holdings in Adobe by 44.3% in the fourth quarter. Fermata Advisors LLC now owns 1,364 shares of the software company’s stock valued at $607,000 after buying an additional 419 shares in the last quarter. Cypress Wealth Services LLC raised its stake in Adobe by 14.1% in the 4th quarter. Cypress Wealth Services LLC now owns 560 shares of the software company’s stock valued at $249,000 after purchasing an additional 69 shares during the last quarter. JGP Wealth Management LLC boosted its stake in Adobe by 4.4% during the 4th quarter. JGP Wealth Management LLC now owns 1,859 shares of the software company’s stock worth $827,000 after purchasing an additional 79 shares during the last quarter. Mirador Capital Partners LP acquired a new stake in shares of Adobe in the fourth quarter valued at about $1,228,000. Finally, West Coast Financial LLC purchased a new position in shares of Adobe in the fourth quarter worth about $8,052,000. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Adobe Stock Up 2.3 %

ADBE opened at $426.93 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.11. Adobe Inc. has a 12 month low of $403.75 and a 12 month high of $638.25. The stock has a market capitalization of $185.84 billion, a P/E ratio of 34.43, a P/E/G ratio of 1.97 and a beta of 1.31. The business has a 50 day simple moving average of $479.32 and a 200-day simple moving average of $514.33.

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

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. UBS Group cut their target price on Adobe from $525.00 to $475.00 and set a “neutral” rating for the company in a research note on Friday, January 3rd. Citigroup cut their price objective on Adobe from $616.00 to $590.00 and set a “neutral” rating on the stock in a report on Monday, December 9th. Mizuho cut their price target on shares of Adobe from $640.00 to $620.00 and set an “outperform” rating on the stock in a research note on Thursday, December 12th. StockNews.com raised shares of Adobe from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 18th. Finally, Barclays reduced 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. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Adobe currently has an average rating of “Moderate Buy” and an average price target of $573.00.

Insiders Place Their Bets

In other Adobe news, CAO Jillian Forusz sold 676 shares of the company’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $484.97, for a total value of $327,839.72. Following the sale, the chief accounting officer now owns 2,715 shares of the company’s stock, valued at $1,316,693.55. This represents a 19.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Scott Belsky sold 481 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $483.42, for a total value of $232,525.02. Following the completion of the sale, the executive vice president now directly owns 18,128 shares in the company, valued at approximately $8,763,437.76. The trade was a 2.58 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,763 shares of company stock worth $893,665. 0.15% of the stock is owned by company insiders.

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.