Adobe Inc. (NASDAQ:ADBE) Shares Sold by Catalyst Capital Advisors LLC

Catalyst Capital Advisors LLC decreased its holdings in Adobe Inc. (NASDAQ:ADBEGet Rating) by 84.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,974 shares of the software company’s stock after selling 10,667 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in Adobe were worth $1,120,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of ADBE. Renaissance Technologies LLC purchased a new stake in Adobe in the 3rd quarter valued at about $593,241,000. C WorldWide Group Holding A S purchased a new stake in Adobe in the 4th quarter valued at about $445,585,000. UBS Asset Management Americas Inc. grew its holdings in Adobe by 13.3% in the 3rd quarter. UBS Asset Management Americas Inc. now owns 3,998,896 shares of the software company’s stock valued at $2,302,244,000 after buying an additional 467,894 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in Adobe by 17.1% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,393,319 shares of the software company’s stock valued at $1,377,882,000 after buying an additional 349,132 shares during the period. Finally, ProShare Advisors LLC grew its holdings in Adobe by 54.6% in the 4th quarter. ProShare Advisors LLC now owns 919,409 shares of the software company’s stock valued at $521,362,000 after buying an additional 324,649 shares during the period. Institutional investors own 82.54% of the company’s stock.

In related news, Director John E. Warnock sold 615 shares of the company’s stock in a transaction on Thursday, April 14th. The stock was sold at an average price of $432.03, for a total transaction of $265,698.45. Following the completion of the transaction, the director now directly owns 410,165 shares in the company, valued at approximately $177,203,584.95. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Scott Belsky sold 2,750 shares of the company’s stock in a transaction on Friday, March 25th. The stock was sold at an average price of $435.44, for a total value of $1,197,460.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,538 shares of company stock worth $4,793,387. Corporate insiders own 0.23% of the company’s stock.

A number of analysts have recently issued reports on ADBE shares. Credit Suisse Group decreased their target price on Adobe from $625.00 to $525.00 and set a “neutral” rating for the company in a report on Wednesday, March 23rd. Deutsche Bank Aktiengesellschaft decreased their target price on Adobe from $660.00 to $575.00 and set a “buy” rating for the company in a report on Wednesday, March 23rd. Mizuho decreased their target price on Adobe from $685.00 to $600.00 and set a “buy” rating for the company in a report on Friday, March 11th. TheStreet cut Adobe from a “b” rating to a “c+” rating in a report on Thursday, February 17th. Finally, StockNews.com cut Adobe from a “buy” rating to a “hold” rating in a report on Friday, May 6th. Seven investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $587.75.

Shares of ADBE stock traded up $16.96 on Friday, hitting $405.45. 3,379,082 shares of the stock traded hands, compared to its average volume of 2,939,127. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.04 and a quick ratio of 1.04. The company has a market capitalization of $191.58 billion, a PE ratio of 40.26, a PEG ratio of 1.96 and a beta of 1.09. Adobe Inc. has a 1-year low of $370.27 and a 1-year high of $699.54. The company’s fifty day moving average is $427.43 and its 200 day moving average is $518.07.

Adobe (NASDAQ:ADBEGet Rating) last posted its quarterly earnings results on Tuesday, March 22nd. The software company reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.07. The business had revenue of $4.26 billion for the quarter, compared to analyst estimates of $4.24 billion. Adobe had a return on equity of 36.47% and a net margin of 29.90%. The business’s revenue was up 9.1% compared to the same quarter last year. During the same period in the prior year, the company posted $2.64 EPS. As a group, equities research analysts expect that Adobe Inc. will post 11.09 EPS for the current year.

Adobe Company Profile (Get Rating)

Adobe Inc 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.

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Institutional Ownership by Quarter for Adobe (NASDAQ:ADBE)

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