GHP Investment Advisors Inc. Lowers Holdings in Adobe Inc. (NASDAQ:ADBE)

GHP Investment Advisors Inc. reduced its position in Adobe Inc. (NASDAQ:ADBE) by 2.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 14,146 shares of the software company’s stock after selling 393 shares during the period. GHP Investment Advisors Inc.’s holdings in Adobe were worth $6,290,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Oakworth Capital Inc. boosted its position in Adobe by 9.4% during the 4th quarter. Oakworth Capital Inc. now owns 1,142 shares of the software company’s stock valued at $508,000 after acquiring an additional 98 shares in the last quarter. State of Alaska Department of Revenue lifted its stake in shares of Adobe by 7.8% during the 4th quarter. State of Alaska Department of Revenue now owns 63,097 shares of the software company’s stock worth $28,057,000 after purchasing an additional 4,547 shares during the last quarter. Caitlin John LLC boosted its position 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. YANKCOM Partnership purchased a new position in Adobe in the fourth quarter valued at about $496,000. Finally, NovaPoint Capital LLC raised its holdings in Adobe by 4.0% in the fourth quarter. NovaPoint Capital LLC now owns 1,560 shares of the software company’s stock worth $694,000 after purchasing an additional 60 shares in the last quarter. 81.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ADBE. Oppenheimer lowered their price target on shares of Adobe from $625.00 to $600.00 and set an “outperform” rating on the stock in a report on Thursday, December 12th. StockNews.com upgraded shares of Adobe from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, January 28th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $475.00 price target (down from $600.00) on shares of Adobe in a research report on Wednesday, January 8th. Mizuho lowered their price objective on Adobe from $640.00 to $620.00 and set an “outperform” rating for the company in a research report on Thursday, December 12th. Finally, UBS Group reduced 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. One analyst has rated the stock with a sell rating, ten have issued a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $573.00.

Adobe Stock Down 0.5 %

Shares of ADBE stock opened at $435.40 on Friday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29. Adobe Inc. has a twelve month low of $403.75 and a twelve month high of $628.07. The stock has a 50 day moving average of $457.14 and a 200 day moving average of $500.93. The stock has a market cap of $189.53 billion, a P/E ratio of 35.11, a P/E/G ratio of 2.12 and a beta of 1.31.

Adobe (NASDAQ:ADBE) last posted its earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share for the quarter, beating the consensus estimate of $4.67 by $0.14. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The firm had revenue of $5.61 billion during the quarter, compared to analyst estimates of $5.54 billion. During the same period in the previous year, the firm earned $3.52 EPS. The business’s quarterly revenue was up 11.1% on a year-over-year basis. As a group, sell-side analysts expect that Adobe Inc. will post 16.65 EPS for the current year.

Insiders Place Their Bets

In related news, CAO Jillian Forusz sold 334 shares of Adobe stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total value of $145,567.22. Following the completion of the transaction, the chief accounting officer now owns 2,685 shares in the company, valued at $1,170,203.55. The trade was a 11.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Scott Belsky sold 3,819 shares of the stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $430.24, for a total value of $1,643,086.56. Following the transaction, the executive vice president now owns 18,334 shares in the company, valued at $7,888,020.16. This represents a 17.24 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,681 shares of company stock worth $2,525,126. Company insiders own 0.15% of the company’s stock.

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.