TCW Group Inc. Sells 6,081 Shares of Adobe Inc. (NASDAQ:ADBE)

TCW Group Inc. decreased its position in Adobe Inc. (NASDAQ:ADBE) by 2.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 215,057 shares of the software company’s stock after selling 6,081 shares during the quarter. TCW Group Inc.’s holdings in Adobe were worth $95,632,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Legacy Investment Solutions LLC bought a new stake in shares of Adobe in the 3rd quarter valued at approximately $26,000. Groupama Asset Managment boosted its position in Adobe by 28.8% during the third quarter. Groupama Asset Managment now owns 51,482 shares of the software company’s stock worth $27,000 after purchasing an additional 11,522 shares during the period. MidAtlantic Capital Management Inc. bought a new stake in Adobe during the third quarter worth approximately $30,000. True Wealth Design LLC boosted its position in Adobe by 141.7% during the third quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock worth $30,000 after purchasing an additional 34 shares during the period. Finally, Decker Retirement Planning Inc. bought a new stake in Adobe during the fourth quarter worth approximately $31,000. Institutional investors own 81.79% of the company’s stock.

Adobe Stock Performance

Shares of NASDAQ ADBE opened at $444.32 on Friday. The business has a fifty day simple moving average of $440.46 and a 200 day simple moving average of $494.02. 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 firm has a market capitalization of $193.41 billion, a price-to-earnings ratio of 35.83, a PEG ratio of 2.20 and a beta of 1.31. Adobe Inc. has a one year low of $403.75 and a one year high of $587.75.

Adobe (NASDAQ:ADBE) last announced 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 firm had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.54 billion. During the same period in the prior year, the business posted $3.52 earnings per share. The business’s revenue was up 11.1% compared to the same quarter last year. Sell-side analysts expect that Adobe Inc. will post 16.65 EPS for the current year.

Wall Street Analysts Forecast Growth

ADBE has been the subject of a number of recent analyst reports. Bank of America decreased their target price on Adobe from $640.00 to $605.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. Wells Fargo & Company decreased their target price on Adobe from $700.00 to $640.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Redburn Atlantic initiated coverage on Adobe in a research report on Wednesday. They set a “neutral” rating for the company. Sanford C. Bernstein decreased their target price on Adobe from $644.00 to $587.00 and set an “outperform” rating for the company in a research report on Thursday, December 12th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $590.00 price target on shares of Adobe in a report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $570.88.

Insider Buying and Selling at Adobe

In other Adobe news, Director Amy Banse sold 606 shares of the company’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $550.00, for a total value of $333,300.00. Following the sale, the director now directly owns 32,929 shares in the company, valued at $18,110,950. This represents a 1.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Scott Belsky sold 3,819 shares of the company’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $430.24, for a total value of $1,643,086.56. Following the completion of the sale, the executive vice president now owns 18,334 shares in the company, valued at $7,888,020.16. This trade represents a 17.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,681 shares of company stock worth $2,525,126 over the last three months. Company insiders own 0.15% of the company’s stock.

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.