WINTON GROUP Ltd Has $819,000 Stake in Adobe Inc. (NASDAQ:ADBE)

WINTON GROUP Ltd cut its holdings in Adobe Inc. (NASDAQ:ADBE) by 62.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,842 shares of the software company’s stock after selling 3,020 shares during the quarter. WINTON GROUP Ltd’s holdings in Adobe were worth $819,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Adobe by 7.9% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 729,521 shares of the software company’s stock worth $314,110,000 after acquiring an additional 53,331 shares during the last quarter. Aviso Wealth Management raised its position in Adobe by 102.5% in the 4th quarter. Aviso Wealth Management now owns 1,527 shares of the software company’s stock worth $679,000 after purchasing an additional 773 shares during the last quarter. Mendel Money Management lifted its holdings in Adobe by 7.8% during the 4th quarter. Mendel Money Management now owns 928 shares of the software company’s stock worth $413,000 after buying an additional 67 shares in the last quarter. Parametrica Management Ltd bought a new position in Adobe in the 4th quarter valued at $1,256,000. Finally, Financial Engines Advisors L.L.C. increased its stake in shares of Adobe by 381.0% in the 4th quarter. Financial Engines Advisors L.L.C. now owns 2,559 shares of the software company’s stock valued at $1,138,000 after buying an additional 2,027 shares during the period. 81.79% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Stifel Nicolaus cut their price target on Adobe from $600.00 to $525.00 and set a “buy” rating on the stock in a research note on Thursday, March 13th. JPMorgan Chase & Co. reduced their target price on shares of Adobe from $580.00 to $540.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Sanford C. Bernstein dropped their price target on shares of Adobe from $644.00 to $587.00 and set an “outperform” rating for the company in a research note on Thursday, December 12th. Evercore ISI reduced their price objective on shares of Adobe from $650.00 to $550.00 and set an “outperform” rating on the stock in a research note on Thursday, March 13th. Finally, BMO Capital Markets dropped their target price on shares of Adobe from $515.00 to $495.00 and set an “outperform” rating for the company in a research report on Thursday, March 13th. Eleven investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $533.85.

Adobe Stock Performance

Shares of Adobe stock opened at $385.71 on Friday. 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 market cap of $164.39 billion, a price-to-earnings ratio of 31.11, a price-to-earnings-growth ratio of 2.15 and a beta of 1.37. The stock’s 50-day moving average is $431.81 and its 200-day moving average is $469.69. Adobe Inc. has a one year low of $374.50 and a one year high of $587.75.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Wednesday, March 12th. The software company reported $5.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.97 by $0.11. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The company had revenue of $5.71 billion for the quarter, compared to the consensus estimate of $5.66 billion. During the same period last year, the company earned $4.48 earnings per share. Equities analysts predict that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Daniel Durn bought 1,300 shares of the company’s stock in a transaction that occurred on Thursday, March 20th. The shares were acquired at an average price of $390.58 per share, for a total transaction of $507,754.00. Following the completion of the acquisition, the chief financial officer now owns 29,876 shares of the company’s stock, valued at approximately $11,668,968.08. The trade was a 4.55 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Scott Belsky sold 3,819 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 18,334 shares of the company’s stock, 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 5,075 shares of company stock valued at $2,191,826 in the last three months. 0.16% of the stock is currently owned by corporate insiders.

Adobe Company 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.