Lmcg Investments LLC Has $9.58 Million Holdings in Adobe Inc. (NASDAQ:ADBE)

Lmcg Investments LLC lessened its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 8.1% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 21,542 shares of the software company’s stock after selling 1,895 shares during the period. Lmcg Investments LLC’s holdings in Adobe were worth $9,579,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Commonwealth Financial Services LLC grew its stake in shares of Adobe by 3.7% during the second quarter. Commonwealth Financial Services LLC now owns 537 shares of the software company’s stock worth $309,000 after buying an additional 19 shares during the last quarter. Onyx Bridge Wealth Group LLC boosted its holdings in shares of Adobe by 4.0% during the 3rd quarter. Onyx Bridge Wealth Group LLC now owns 526 shares of the software company’s stock valued at $272,000 after acquiring an additional 20 shares in the last quarter. Connable Office Inc. grew its position in Adobe by 0.5% during the 3rd quarter. Connable Office Inc. now owns 3,732 shares of the software company’s stock worth $1,932,000 after acquiring an additional 20 shares during the last quarter. 1ST Source Bank increased its holdings in Adobe by 0.7% in the 3rd quarter. 1ST Source Bank now owns 2,889 shares of the software company’s stock worth $1,496,000 after purchasing an additional 20 shares in the last quarter. Finally, Sfmg LLC raised its position in Adobe by 3.1% in the second quarter. Sfmg LLC now owns 708 shares of the software company’s stock valued at $393,000 after purchasing an additional 21 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. JMP Securities restated a “market perform” rating on shares of Adobe in a report on Thursday, December 12th. 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. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $475.00 price target (down from $600.00) on shares of Adobe in a research report on Wednesday, January 8th. Mizuho cut their price target on shares of Adobe from $640.00 to $620.00 and set an “outperform” rating on the stock in a report on Thursday, December 12th. Finally, Jefferies Financial Group decreased their price objective on shares of Adobe from $700.00 to $650.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Adobe currently has a consensus rating of “Moderate Buy” and a consensus target price of $573.00.

Insiders Place Their Bets

In other news, Director Amy Banse sold 606 shares of the firm’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $550.00, for a total value of $333,300.00. Following the completion of the transaction, the director now directly owns 32,929 shares in the company, valued at $18,110,950. This trade represents a 1.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Scott Belsky sold 481 shares of the stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $483.42, for a total transaction of $232,525.02. Following the completion of the transaction, the executive vice president now owns 18,128 shares in the company, valued at approximately $8,763,437.76. This trade represents a 2.58 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,763 shares of company stock valued at $893,665. 0.15% of the stock is currently owned by insiders.

Adobe Price Performance

NASDAQ:ADBE opened at $429.99 on Tuesday. The business’s 50-day moving average is $476.55 and its 200 day moving average is $512.03. Adobe Inc. has a 12 month low of $403.75 and a 12 month high of $638.25. The company has a market capitalization of $189.28 billion, a P/E ratio of 34.68, a P/E/G ratio of 1.97 and a beta of 1.31. The company has a current ratio of 1.07, a quick ratio of 1.11 and a debt-to-equity ratio of 0.29.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share for the quarter, topping the consensus estimate 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 period in the prior year, the business posted $3.52 earnings per share. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. On average, equities research analysts forecast 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.