Adobe Inc. (NASDAQ:ADBE) Shares Sold by Bouvel Investment Partners LLC

by · The Cerbat Gem

Bouvel Investment Partners LLC lowered its stake in shares of Adobe Inc. (NASDAQ:ADBE – Free Report) by 4.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,938 shares of the software company’s stock after selling 209 shares during the quarter. Bouvel Investment Partners LLC’s holdings in Adobe were worth $2,196,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of ADBE. Fermata Advisors LLC raised its stake in Adobe by 44.3% during the fourth quarter. Fermata Advisors LLC now owns 1,364 shares of the software company’s stock worth $607,000 after purchasing an additional 419 shares during the period. Cypress Wealth Services LLC boosted its holdings in Adobe by 14.1% in the fourth quarter. Cypress Wealth Services LLC now owns 560 shares of the software company’s stock valued at $249,000 after acquiring an additional 69 shares during the last quarter. JGP Wealth Management LLC grew its position in Adobe by 4.4% during the fourth quarter. JGP Wealth Management LLC now owns 1,859 shares of the software company’s stock valued at $827,000 after acquiring an additional 79 shares during the period. Mirador Capital Partners LP acquired a new position in shares of Adobe in the 4th quarter valued at about $1,228,000. Finally, West Coast Financial LLC acquired a new stake in Adobe during the 4th quarter worth approximately $8,052,000. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Adobe

In other Adobe news, EVP Scott Belsky sold 481 shares of the stock in a transaction on Friday, October 25th. The shares were sold at an average price of $483.42, for a total value of $232,525.02. Following the sale, the executive vice president now directly owns 18,128 shares in the company, valued at approximately $8,763,437.76. This trade represents a 2.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Jillian Forusz sold 676 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $484.97, for a total transaction of $327,839.72. Following the sale, the chief accounting officer now owns 2,715 shares in the company, valued at $1,316,693.55. This trade represents a 19.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,763 shares of company stock valued at $893,665. 0.15% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently issued reports on ADBE shares. Citigroup lowered their price target on Adobe from $616.00 to $590.00 and set a “neutral” rating for the company in a report on Monday, December 9th. Mizuho dropped their target price on Adobe from $640.00 to $620.00 and set an “outperform” rating on the stock in a report on Thursday, December 12th. Sanford C. Bernstein lowered their price objective on shares of Adobe from $644.00 to $587.00 and set an “outperform” rating for the company in a research report on Thursday, December 12th. JMP Securities restated a “market perform” rating on shares of Adobe in a research note on Thursday, December 12th. Finally, Oppenheimer lowered their price target on shares of Adobe from $625.00 to $600.00 and set an “outperform” rating for the company in a report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Adobe currently has a consensus rating of “Moderate Buy” and a consensus price target of $573.00.

Read Our Latest Stock Report on ADBE

Adobe Stock Performance

ADBE stock opened at $426.93 on Friday. Adobe Inc. has a 52 week low of $403.75 and a 52 week high of $638.25. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.11 and a current ratio of 1.07. The stock has a market cap of $185.84 billion, a P/E ratio of 34.43, a P/E/G ratio of 1.97 and a beta of 1.31. The firm has a 50 day simple moving average of $479.32 and a 200 day simple moving average of $514.33.

Adobe (NASDAQ:ADBE – Get Free Report) last announced its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, beating the consensus estimate of $4.67 by $0.14. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The company had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $5.54 billion. During the same quarter last year, the company posted $3.52 earnings per share. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. Research analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Adobe Company Profile

(Free Report)

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.

See Also

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