Coppell Advisory Solutions LLC Lowers Stock Position in Adobe Inc. (NASDAQ:ADBE)

Coppell Advisory Solutions LLC lessened its stake in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 96.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 402 shares of the software company's stock after selling 9,730 shares during the period. Coppell Advisory Solutions LLC's holdings in Adobe were worth $180,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of ADBE. Norges Bank purchased a new stake in Adobe in the fourth quarter worth $2,553,035,000. Proficio Capital Partners LLC increased its stake in Adobe by 82,528.8% in the fourth quarter. Proficio Capital Partners LLC now owns 1,042,775 shares of the software company's stock worth $463,701,000 after purchasing an additional 1,041,513 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in Adobe by 82.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,107,788 shares of the software company's stock worth $937,291,000 after purchasing an additional 952,233 shares during the period. FIL Ltd increased its stake in Adobe by 130.9% in the fourth quarter. FIL Ltd now owns 1,288,599 shares of the software company's stock worth $573,014,000 after purchasing an additional 730,520 shares during the period. Finally, Edgewood Management LLC increased its stake in Adobe by 20.7% in the fourth quarter. Edgewood Management LLC now owns 4,059,119 shares of the software company's stock worth $1,805,009,000 after purchasing an additional 696,172 shares during the period. Hedge funds and other institutional investors own 81.79% of the company's stock.

Insider Activity

In other Adobe news, CFO Daniel Durn acquired 1,300 shares of the company's stock in a transaction dated Thursday, March 20th. The shares were acquired at an average cost of $390.58 per share, with a total value of $507,754.00. Following the acquisition, the chief financial officer now directly owns 29,876 shares of the company's stock, valued at approximately $11,668,968.08. The trade was a 4.55 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.16% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ADBE. Jefferies Financial Group dropped their price target on Adobe from $650.00 to $590.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Piper Sandler dropped their price target on Adobe from $600.00 to $500.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Bank of America dropped their price target on Adobe from $605.00 to $528.00 and set a "buy" rating on the stock in a research report on Thursday, March 13th. Citigroup dropped their price target on Adobe from $551.00 to $490.00 and set a "neutral" rating on the stock in a research report on Monday, March 10th. Finally, Mizuho dropped their price target on Adobe from $620.00 to $575.00 and set an "outperform" rating on the stock in a research report on Thursday, March 13th. Eleven analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $502.88.

Adobe Stock Performance

Shares of NASDAQ:ADBE traded up $3.03 during trading on Tuesday, hitting $371.65. The stock had a trading volume of 829,104 shares, compared to its average volume of 3,426,934. 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 Inc. has a 12-month low of $332.01 and a 12-month high of $587.75. The stock has a market capitalization of $158.40 billion, a price-to-earnings ratio of 29.96, a price-to-earnings-growth ratio of 2.15 and a beta of 1.49. The stock has a 50-day simple moving average of $391.12 and a two-hundred day simple moving average of $443.78.

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