Adobe Inc. (NASDAQ:ADBE) Stock Holdings Lessened by Captrust Financial Advisors

Captrust Financial Advisors decreased its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 62.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 58,164 shares of the software company's stock after selling 96,705 shares during the quarter. Captrust Financial Advisors' holdings in Adobe were worth $25,864,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Decker Retirement Planning Inc. purchased a new position in shares of Adobe in the fourth quarter valued at $31,000. Summit Securities Group LLC purchased a new position in Adobe during the 4th quarter valued at about $31,000. Caitlin John LLC raised its position in Adobe by 171.4% during the fourth quarter. Caitlin John LLC now owns 76 shares of the software company's stock worth $34,000 after acquiring an additional 48 shares during the last quarter. Avion Wealth lifted its holdings in shares of Adobe by 112.2% in the fourth quarter. Avion Wealth now owns 87 shares of the software company's stock valued at $38,000 after purchasing an additional 46 shares in the last quarter. Finally, Mascoma Wealth Management LLC grew its position in shares of Adobe by 142.9% in the fourth quarter. Mascoma Wealth Management LLC now owns 85 shares of the software company's stock valued at $38,000 after purchasing an additional 50 shares during the last quarter. 81.79% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Adobe

In related news, CFO Daniel Durn bought 1,300 shares of the business's stock in a transaction dated Thursday, March 20th. The shares were acquired at an average price of $390.58 per share, for a total transaction of $507,754.00. Following the purchase, the chief financial officer now owns 29,876 shares in the company, valued at $11,668,968.08. This trade represents a 4.55 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.16% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on ADBE shares. Stifel Nicolaus cut their price objective on Adobe from $600.00 to $525.00 and set a "buy" rating for the company in a research report on Thursday, March 13th. Oppenheimer reduced their price objective on Adobe from $560.00 to $530.00 and set an "outperform" rating on the stock in a research report on Thursday, March 13th. Summit Redstone set a $410.00 price objective on Adobe in a research report on Wednesday, March 19th. Wells Fargo & Company cut their target price on shares of Adobe from $600.00 to $430.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Finally, Bank of America decreased their price target on shares of Adobe from $605.00 to $528.00 and set a "buy" rating on the stock in a research note on Thursday, March 13th. Eleven investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $502.88.

Adobe Stock Down 0.2 %

Adobe stock traded down $0.71 during trading on Friday, reaching $383.28. 2,030,646 shares of the company's stock were exchanged, compared to its average volume of 3,438,025. Adobe Inc. has a 52-week low of $332.01 and a 52-week high of $587.75. The firm has a market cap of $163.35 billion, a price-to-earnings ratio of 30.91, a PEG ratio of 2.15 and a beta of 1.55. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07. The company's 50-day moving average is $379.67 and its two-hundred day moving average is $437.08.

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

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.