Livforsakringsbolaget Skandia Omsesidigt Sells 100 Shares of Adobe Inc. (NASDAQ:ADBE)

Livforsakringsbolaget Skandia Omsesidigt reduced its stake in Adobe Inc. (NASDAQ:ADBE) by 0.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,772 shares of the software company’s stock after selling 100 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Adobe were worth $7,964,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Copia Wealth Management bought a new stake in shares of Adobe during the fourth quarter worth about $28,000. SWAN Capital LLC bought a new stake in shares of Adobe during the fourth quarter worth about $28,000. Summit Securities Group LLC bought a new stake in shares of Adobe during the fourth quarter worth about $31,000. Bernard Wealth Management Corp. bought a new stake in shares of Adobe during the fourth quarter worth about $36,000. Finally, Mascoma Wealth Management LLC increased its position in shares of Adobe by 142.9% during the fourth quarter. Mascoma Wealth Management LLC now owns 85 shares of the software company’s stock worth $38,000 after acquiring an additional 50 shares in the last quarter. 81.79% of the stock is owned by institutional investors.

Adobe Stock Down 0.2%

ADBE opened at $416.26 on Tuesday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29. The stock has a market cap of $177.41 billion, a price-to-earnings ratio of 33.57, a PEG ratio of 2.15 and a beta of 1.55. Adobe Inc. has a twelve month low of $332.01 and a twelve month high of $587.75. The company’s 50-day moving average price is $382.02 and its two-hundred day moving average price is $423.49.

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

Analysts Set New Price Targets

Several research firms have recently commented on ADBE. Mizuho decreased their target price on shares of Adobe from $620.00 to $575.00 and set an “outperform” rating for the company in a research report on Thursday, March 13th. DA Davidson decreased their target price on shares of Adobe from $600.00 to $450.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Evercore ISI decreased their target price on shares of Adobe from $650.00 to $550.00 and set an “outperform” rating for the company in a research report on Thursday, March 13th. Wall Street Zen upgraded shares of Adobe from a “hold” rating to a “buy” rating in a report on Thursday, May 22nd. Finally, Summit Redstone set a $410.00 price target on shares of Adobe in a report on Wednesday, March 19th. Eleven research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $504.81.

Insider Activity at Adobe

In other Adobe news, CFO Daniel Durn purchased 1,300 shares of the company’s stock in a transaction that occurred on Thursday, March 20th. The shares were bought at an average cost of $390.58 per share, for a total transaction of $507,754.00. Following the purchase, the chief financial officer now owns 29,876 shares of the company’s stock, valued at $11,668,968.08. This represents a 4.55% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.16% of the stock is currently owned by corporate insiders.

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.