Lynch & Associates IN Cuts Stake in Adobe Inc. (NASDAQ:ADBE)

Lynch & Associates IN trimmed its position in Adobe Inc. (NASDAQ:ADBE) by 21.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,485 shares of the software company’s stock after selling 416 shares during the quarter. Lynch & Associates IN’s holdings in Adobe were worth $660,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. HBW Advisory Services LLC grew its holdings in Adobe by 3.3% during the 4th quarter. HBW Advisory Services LLC now owns 920 shares of the software company’s stock worth $409,000 after acquiring an additional 29 shares in the last quarter. Jacobs & Co. CA lifted its position in Adobe by 2.7% in the 4th quarter. Jacobs & Co. CA now owns 37,090 shares of the software company’s stock valued at $16,493,000 after purchasing an additional 973 shares during the last quarter. Sage Capital Advisors llc boosted its position in shares of Adobe by 1.0% during the fourth quarter. Sage Capital Advisors llc now owns 5,865 shares of the software company’s stock worth $2,608,000 after buying an additional 57 shares during the period. Harbor Capital Advisors Inc. raised its stake in Adobe by 3.1% during the 4th quarter. Harbor Capital Advisors Inc. now owns 5,835 shares of the software company’s stock valued at $2,595,000 after acquiring an additional 173 shares in the last quarter. Finally, CCM Investment Advisers LLC boosted its position in Adobe by 8.4% during the 4th quarter. CCM Investment Advisers LLC now owns 30,405 shares of the software company’s stock worth $13,521,000 after acquiring an additional 2,359 shares during the period. Institutional investors and hedge funds own 81.79% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on ADBE shares. Sanford C. Bernstein reduced their price target on shares of Adobe from $644.00 to $587.00 and set an “outperform” rating for the company in a research note on Thursday, December 12th. Royal Bank of Canada reduced their price target on shares of Adobe from $610.00 to $590.00 and set an “outperform” rating for the company in a research report on Thursday, December 12th. Barclays cut their target price on shares of Adobe from $675.00 to $645.00 and set an “overweight” rating for the company in a research report on Thursday, December 12th. Argus upgraded shares of Adobe to a “strong-buy” rating in a report on Monday, September 16th. Finally, Stifel Nicolaus lowered their target price on Adobe from $650.00 to $600.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $575.85.

Insider Buying and Selling at Adobe

In other news, CAO Jillian Forusz sold 676 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $484.97, for a total value of $327,839.72. Following the completion of the transaction, 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 transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Amy Banse sold 606 shares of the firm’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $550.00, for a total value of $333,300.00. Following the transaction, the director now directly owns 32,929 shares of the company’s stock, valued at approximately $18,110,950. This represents a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,293 shares of company stock valued at $1,679,809 in the last three months. 0.15% of the stock is currently owned by company insiders.

Adobe Stock Down 3.3 %

ADBE stock traded down $13.66 during mid-day trading on Friday, hitting $405.92. 5,546,182 shares of the company were exchanged, compared to its average volume of 4,224,891. The firm has a market cap of $178.69 billion, a P/E ratio of 32.74, a P/E/G ratio of 2.51 and a beta of 1.31. The firm’s 50 day simple moving average is $485.54 and its 200 day simple moving average is $517.97. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.11 and a current ratio of 1.11. Adobe Inc. has a 1-year low of $405.32 and a 1-year high of $638.25.

Adobe (NASDAQ:ADBE) last released its earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share for the quarter, beating analysts’ consensus estimates of $4.67 by $0.14. Adobe had a net margin of 25.85% and a return on equity of 45.22%. The business 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 firm earned $3.52 earnings per share. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. On average, sell-side analysts predict that Adobe Inc. will post 16.73 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.