New Amsterdam Partners LLC NY decreased its position in Adobe Inc (NASDAQ:ADBE) by 20.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,422 shares of the software company’s stock after selling 360 shares during the quarter. New Amsterdam Partners LLC NY’s holdings in Adobe were worth $322,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Greenleaf Trust boosted its position in shares of Adobe by 9.5% in the third quarter. Greenleaf Trust now owns 4,100 shares of the software company’s stock valued at $1,107,000 after acquiring an additional 355 shares during the period. SG Americas Securities LLC raised its stake in shares of Adobe by 76.9% in the third quarter. SG Americas Securities LLC now owns 87,663 shares of the software company’s stock valued at $23,665,000 after purchasing an additional 38,095 shares in the last quarter. Mackenzie Financial Corp raised its stake in shares of Adobe by 26.1% in the third quarter. Mackenzie Financial Corp now owns 30,772 shares of the software company’s stock valued at $8,307,000 after purchasing an additional 6,372 shares in the last quarter. Eqis Capital Management Inc. raised its stake in Adobe by 24.6% during the fourth quarter. Eqis Capital Management Inc. now owns 1,126 shares of the software company’s stock worth $255,000 after acquiring an additional 222 shares in the last quarter. Finally, Fulton Bank N.A. raised its stake in Adobe by 26.1% during the fourth quarter. Fulton Bank N.A. now owns 1,251 shares of the software company’s stock worth $283,000 after acquiring an additional 259 shares in the last quarter. 92.64% of the stock is owned by institutional investors and hedge funds.

Shares of ADBE opened at $257.00 on Monday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.44. Adobe Inc has a 1 year low of $179.34 and a 1 year high of $277.61. The stock has a market cap of $125.35 billion, a price-to-earnings ratio of 46.31, a P/E/G ratio of 2.52 and a beta of 1.15.

Adobe (NASDAQ:ADBE) last issued its earnings results on Thursday, December 13th. The software company reported $1.83 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.88 by ($0.05). Adobe had a return on equity of 31.19% and a net margin of 28.69%. The company had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter last year, the business posted $1.26 EPS. Adobe’s quarterly revenue was up 20.6% on a year-over-year basis. As a group, equities analysts predict that Adobe Inc will post 6.21 earnings per share for the current year.

In other Adobe news, EVP Ann Lewnes sold 2,955 shares of the firm’s stock in a transaction dated Wednesday, November 21st. The stock was sold at an average price of $225.38, for a total transaction of $665,997.90. Following the transaction, the executive vice president now owns 52,692 shares in the company, valued at $11,875,722.96. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Bradley Rencher sold 30,000 shares of the firm’s stock in a transaction dated Thursday, January 31st. The stock was sold at an average price of $246.46, for a total value of $7,393,800.00. Following the transaction, the executive vice president now owns 42,340 shares in the company, valued at approximately $10,435,116.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 282,299 shares of company stock worth $68,899,256. Company insiders own 0.33% of the company’s stock.

ADBE has been the subject of several recent analyst reports. Nomura initiated coverage on Adobe in a research note on Thursday, November 15th. They set a “buy” rating and a $315.00 price objective for the company. Rosenblatt Securities reiterated a “buy” rating and set a $280.00 price objective on shares of Adobe in a research note on Sunday, October 21st. ValuEngine upgraded Adobe from a “hold” rating to a “buy” rating in a report on Tuesday, November 27th. Zacks Investment Research upgraded Adobe from a “hold” rating to a “buy” rating and set a $260.00 target price on the stock in a report on Tuesday, November 27th. Finally, Credit Suisse Group restated a “buy” rating and set a $300.00 target price on shares of Adobe in a report on Monday, December 10th. Nine equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Adobe has an average rating of “Buy” and a consensus price target of $284.62.

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About Adobe

Adobe Inc operates as a diversified software company worldwide. Its Digital Media segment provides tools and solutions that enable individuals, small and medium businesses, and enterprises to create, publish, promote, and monetize their digital content. Its flagship product is Creative Cloud, a subscription service that allows customer to download and access the latest versions of its creative products.

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Institutional Ownership by Quarter for Adobe (NASDAQ:ADBE)

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