Mitchell Capital Management Co. Sells 221 Shares of Adobe Inc. (NASDAQ:ADBE)

Mitchell Capital Management Co. trimmed its stake in Adobe Inc. (NASDAQ:ADBE) by 11.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,686 shares of the software company’s stock after selling 221 shares during the period. Mitchell Capital Management Co.’s holdings in Adobe were worth $750,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the stock. Legacy Investment Solutions LLC bought a new position in shares of Adobe during the third quarter worth about $26,000. Groupama Asset Managment increased its position in Adobe by 28.8% during the 3rd quarter. Groupama Asset Managment now owns 51,482 shares of the software company’s stock valued at $27,000 after purchasing an additional 11,522 shares during the period. MidAtlantic Capital Management Inc. acquired a new stake in Adobe during the 3rd quarter valued at approximately $30,000. True Wealth Design LLC raised its holdings in Adobe by 141.7% during the 3rd quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock worth $30,000 after purchasing an additional 34 shares during the last quarter. Finally, Decker Retirement Planning Inc. acquired a new position in shares of Adobe in the 4th quarter worth approximately $31,000. 81.79% of the stock is owned by institutional investors.

Insider Activity at Adobe

In related news, CAO Jillian Forusz sold 334 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total value 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 represents a 11.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Scott Belsky sold 922 shares of the company’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $437.28, for a total value of $403,172.16. Following the completion of the transaction, the executive vice president now owns 22,153 shares in the company, valued at approximately $9,687,063.84. The trade was a 4.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,681 shares of company stock worth $2,525,126. Insiders own 0.15% of the company’s stock.

Adobe Price Performance

Shares of NASDAQ ADBE opened at $438.49 on Friday. Adobe Inc. has a twelve month low of $403.75 and a twelve month high of $587.75. The stock’s 50 day moving average price is $439.71 and its 200-day moving average price is $490.93. The company has a market capitalization of $190.87 billion, a PE ratio of 35.36, a PEG ratio of 2.15 and a beta of 1.31. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29.

Adobe (NASDAQ:ADBE) last announced its earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share for the quarter, topping 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 firm had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $5.54 billion. During the same quarter in the previous year, the business earned $3.52 EPS. The company’s revenue was up 11.1% compared to the same quarter last year. On average, equities analysts anticipate that Adobe Inc. will post 16.65 EPS for the current year.

Analyst Ratings Changes

ADBE has been the subject of several recent analyst reports. Sanford C. Bernstein decreased their price objective on shares of Adobe from $644.00 to $587.00 and set an “outperform” rating for the company in a research report on Thursday, December 12th. Wells Fargo & Company decreased their price target on Adobe from $700.00 to $640.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. BNP Paribas raised Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 price objective for the company in a research report on Wednesday, January 15th. UBS Group cut their target price on Adobe from $525.00 to $475.00 and set a “neutral” rating on the stock in a research report on Friday, January 3rd. Finally, Jefferies Financial Group lowered their target price on Adobe from $700.00 to $650.00 and set a “buy” rating for the company in a report on Thursday, December 12th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $570.88.

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.