Counterweight Ventures LLC Sells 93 Shares of Adobe Inc. (NASDAQ:ADBE)

Counterweight Ventures LLC reduced its position in shares of Adobe Inc. (NASDAQ:ADBE) by 11.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 731 shares of the software company’s stock after selling 93 shares during the period. Counterweight Ventures LLC’s holdings in Adobe were worth $325,000 at the end of the most recent reporting period.

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

Insiders Place Their Bets

In other Adobe news, CAO Jillian Forusz sold 334 shares of the business’s 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 directly owns 2,685 shares of the company’s stock, valued at approximately $1,170,203.55. The trade was a 11.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Scott Belsky sold 3,819 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now directly owns 18,334 shares in the company, valued at approximately $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 have sold 5,681 shares of company stock worth $2,525,126. Insiders own 0.15% of the company’s stock.

Wall Street Analysts Forecast Growth

ADBE has been the subject of a number of research analyst reports. Bank of America cut their price objective on shares of Adobe from $640.00 to $605.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. Oppenheimer cut their price target on Adobe from $625.00 to $600.00 and set an “outperform” rating for the company in a report on Thursday, December 12th. BMO Capital Markets decreased their price objective on Adobe from $600.00 to $570.00 and set an “outperform” rating on the stock in a report on Thursday, December 12th. Sanford C. Bernstein cut their target price on Adobe from $644.00 to $587.00 and set an “outperform” rating for the company in a research note on Thursday, December 12th. Finally, Wells Fargo & Company lowered their price target on shares of Adobe from $700.00 to $640.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Adobe currently has an average rating of “Moderate Buy” and a consensus target price of $573.00.

Adobe Trading Down 0.5 %

ADBE opened at $433.07 on Friday. Adobe Inc. has a fifty-two week low of $403.75 and a fifty-two week high of $628.07. The company has a market cap of $188.52 billion, a price-to-earnings ratio of 34.93, a price-to-earnings-growth ratio of 2.12 and a beta of 1.31. 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 firm has a 50 day simple moving average of $453.92 and a 200 day simple moving average of $499.63.

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