Sustainable Insight Capital Management LLC Sells 400 Shares of Adobe Inc. (NASDAQ:ADBE)

Sustainable Insight Capital Management LLC trimmed its stake in Adobe Inc. (NASDAQ:ADBE) by 50.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 389 shares of the software company’s stock after selling 400 shares during the period. Sustainable Insight Capital Management LLC’s holdings in Adobe were worth $216,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Vise Technologies Inc. lifted its position in shares of Adobe by 267.3% during the 4th quarter. Vise Technologies Inc. now owns 7,769 shares of the software company’s stock worth $4,635,000 after buying an additional 5,654 shares during the period. Steph & Co. lifted its holdings in Adobe by 63.8% during the 1st quarter. Steph & Co. now owns 77 shares of the software company’s stock valued at $39,000 after purchasing an additional 30 shares during the last quarter. International Assets Investment Management LLC boosted its position in Adobe by 16.2% in the first quarter. International Assets Investment Management LLC now owns 2,858 shares of the software company’s stock valued at $1,435,000 after buying an additional 398 shares in the last quarter. Choreo LLC grew its stake in Adobe by 4.7% during the first quarter. Choreo LLC now owns 4,431 shares of the software company’s stock worth $2,236,000 after buying an additional 197 shares during the last quarter. Finally, Eagle Asset Management Inc. increased its holdings in shares of Adobe by 14.7% during the fourth quarter. Eagle Asset Management Inc. now owns 24,400 shares of the software company’s stock worth $14,557,000 after buying an additional 3,120 shares in the last quarter. 81.79% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on ADBE shares. Evercore ISI reissued an “outperform” rating and issued a $650.00 target price on shares of Adobe in a report on Friday, June 7th. JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a research note on Friday, June 14th. BMO Capital Markets lifted their price objective on Adobe from $525.00 to $580.00 and gave the stock an “outperform” rating in a research report on Friday, June 14th. StockNews.com downgraded shares of Adobe from a “buy” rating to a “hold” rating in a research report on Friday, August 23rd. Finally, KeyCorp lifted their price target on shares of Adobe from $445.00 to $450.00 and gave the stock an “underweight” rating in a research report on Friday, June 14th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $605.52.

Adobe Stock Down 0.8 %

NASDAQ:ADBE opened at $563.41 on Friday. The company has a market cap of $249.82 billion, a PE ratio of 50.62, a PEG ratio of 3.00 and a beta of 1.30. The stock has a 50-day simple moving average of $553.72 and a 200 day simple moving average of $519.38. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.16 and a current ratio of 1.16. Adobe Inc. has a 52-week low of $433.97 and a 52-week high of $638.25.

Adobe (NASDAQ:ADBE) last announced its earnings results on Thursday, June 13th. The software company reported $4.48 EPS for the quarter, topping the consensus estimate of $4.39 by $0.09. Adobe had a net margin of 24.86% and a return on equity of 40.67%. The business had revenue of $5.31 billion during the quarter, compared to analysts’ expectations of $5.29 billion. During the same quarter in the prior year, the company posted $3.04 earnings per share. The firm’s revenue was up 10.2% on a year-over-year basis. On average, sell-side analysts expect that Adobe Inc. will post 14.69 EPS for the current fiscal year.

Insider Activity

In other Adobe news, CAO Mark S. Garfield sold 264 shares of the company’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $525.51, for a total transaction of $138,734.64. Following the sale, the chief accounting officer now directly owns 2,740 shares of the company’s stock, valued at $1,439,897.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CAO Mark S. Garfield sold 264 shares of Adobe stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $525.51, for a total transaction of $138,734.64. Following the completion of the transaction, the chief accounting officer now directly owns 2,740 shares in the company, valued at approximately $1,439,897.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Mark S. Garfield sold 97 shares of the firm’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $537.00, for a total value of $52,089.00. Following the sale, the chief accounting officer now directly owns 2,797 shares of the company’s stock, valued at approximately $1,501,989. The disclosure for this sale can be found here. Insiders sold 27,523 shares of company stock worth $14,994,277 in the last quarter. Corporate insiders own 0.15% of the company’s stock.

About Adobe

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.