Silver Oak Securities Incorporated Lowers Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

Silver Oak Securities Incorporated lessened its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 13.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,219 shares of the software company’s stock after selling 194 shares during the quarter. Silver Oak Securities Incorporated’s holdings in Adobe were worth $543,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of ADBE. CWM LLC lifted its position in Adobe by 7.9% in the third quarter. CWM LLC now owns 42,449 shares of the software company’s stock valued at $21,979,000 after purchasing an additional 3,097 shares during the period. Marcum Wealth LLC raised its stake in shares of Adobe by 4.4% during the 3rd quarter. Marcum Wealth LLC now owns 1,152 shares of the software company’s stock worth $596,000 after buying an additional 49 shares in the last quarter. Cypress Wealth Services LLC lifted its holdings in shares of Adobe by 7.9% in the 3rd quarter. Cypress Wealth Services LLC now owns 491 shares of the software company’s stock valued at $254,000 after buying an additional 36 shares during the period. WealthBridge Investment Counsel Inc. boosted its stake in shares of Adobe by 194.2% in the third quarter. WealthBridge Investment Counsel Inc. now owns 3,192 shares of the software company’s stock valued at $1,653,000 after buying an additional 2,107 shares in the last quarter. Finally, Pinnacle Bancorp Inc. grew its holdings in Adobe by 5.2% during the third quarter. Pinnacle Bancorp Inc. now owns 1,517 shares of the software company’s stock worth $785,000 after acquiring an additional 75 shares during the period. 81.79% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Adobe

In other news, Director Amy Banse sold 606 shares of the business’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $550.00, for a total value of $333,300.00. Following the completion of the sale, the director now owns 32,929 shares of the company’s stock, valued at approximately $18,110,950. The trade was a 1.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David A. Ricks purchased 2,250 shares of the firm’s stock in a transaction that occurred on Tuesday, January 28th. The stock was purchased at an average price of $443.98 per share, with a total value of $998,955.00. Following the completion of the purchase, the director now directly owns 4,984 shares of the company’s stock, valued at approximately $2,212,796.32. This represents a 82.30 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 5,681 shares of company stock valued at $2,525,126. Insiders own 0.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on ADBE shares. Royal Bank of Canada reduced their target price on Adobe from $610.00 to $590.00 and set an “outperform” rating for the company in a report on Thursday, December 12th. DA Davidson reduced their price objective on shares of Adobe from $685.00 to $625.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. Jefferies Financial Group lowered their target price on shares of Adobe from $700.00 to $650.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. BNP Paribas upgraded shares of Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 price target for the company in a research report on Wednesday, January 15th. Finally, BMO Capital Markets lowered their price target on Adobe from $600.00 to $570.00 and set an “outperform” rating on the stock in a report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $573.00.

Adobe Trading Down 0.5 %

Shares of ADBE opened at $433.07 on Friday. Adobe Inc. has a 12 month low of $403.75 and a 12 month high of $628.07. The stock’s 50-day moving average is $455.58 and its two-hundred day moving average is $500.48. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. The stock has a market cap of $188.52 billion, a PE ratio of 34.93, a P/E/G ratio of 2.12 and a beta of 1.31.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 earnings per share (EPS) 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 45.87%. The company had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.54 billion. During the same quarter last year, the firm posted $3.52 earnings per share. The business’s quarterly revenue was up 11.1% on a year-over-year basis. Equities analysts forecast that Adobe Inc. will post 16.65 earnings per share 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.