Williams Jones Wealth Management LLC. Cuts Holdings in Adobe Inc. (NASDAQ:ADBE)

Williams Jones Wealth Management LLC. lessened its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 47.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,061 shares of the software company's stock after selling 26,805 shares during the period. Williams Jones Wealth Management LLC.'s holdings in Adobe were worth $13,368,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Siemens Fonds Invest GmbH raised its stake in shares of Adobe by 252.9% during the 4th quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company's stock worth $25,000 after buying an additional 39,888 shares during the period. Summit Securities Group LLC purchased a new position in Adobe during the fourth quarter valued at $31,000. Caitlin John LLC lifted its holdings in Adobe by 171.4% during the fourth quarter. Caitlin John LLC now owns 76 shares of the software company's stock valued at $34,000 after purchasing an additional 48 shares in the last quarter. Avion Wealth grew its position 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 during the period. Finally, Mascoma Wealth Management LLC increased its stake in shares of Adobe by 142.9% during the fourth quarter. Mascoma Wealth Management LLC now owns 85 shares of the software company's stock worth $38,000 after purchasing an additional 50 shares in the last quarter. Institutional investors and hedge funds own 81.79% of the company's stock.

Adobe Trading Up 0.9%

Shares of NASDAQ ADBE opened at $420.68 on Tuesday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $179.29 billion, a PE ratio of 33.93, a PEG ratio of 2.15 and a beta of 1.55. Adobe Inc. has a twelve month low of $332.01 and a twelve month high of $587.75. The stock has a fifty day simple moving average of $375.32 and a 200-day simple moving average of $433.19.

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

Analyst Ratings Changes

A number of brokerages recently weighed in on ADBE. Stifel Nicolaus decreased their price target on shares of Adobe from $600.00 to $525.00 and set a "buy" rating on the stock in a research note on Thursday, March 13th. Oppenheimer lowered their price target on Adobe from $560.00 to $530.00 and set an "outperform" rating on the stock in a research note on Thursday, March 13th. Wells Fargo & Company reduced their price objective on Adobe from $600.00 to $430.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Summit Redstone set a $410.00 target price on shares of Adobe in a research note on Wednesday, March 19th. Finally, Redburn Atlantic initiated coverage on shares of Adobe in a research report on Wednesday, February 19th. They issued a "neutral" rating for the company. Eleven research 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 data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $502.88.

Insiders Place Their Bets

In related news, CFO Daniel Durn bought 1,300 shares of the firm's stock in a transaction that occurred on Thursday, March 20th. The stock was purchased at an average cost of $390.58 per share, for a total transaction of $507,754.00. Following the completion of the acquisition, the chief financial officer now owns 29,876 shares in the company, valued at approximately $11,668,968.08. This trade represents a 4.55% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.16% 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.

Want to see what other hedge funds are holding ADBE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Adobe Inc. (NASDAQ:ADBE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.