Sei Investments Co. decreased its position in Adobe Inc (NASDAQ:ADBE) by 3.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 558,558 shares of the software company’s stock after selling 19,153 shares during the period. Sei Investments Co.’s holdings in Adobe were worth $184,311,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Triangle Securities Wealth Management lifted its position in shares of Adobe by 0.4% during the fourth quarter. Triangle Securities Wealth Management now owns 6,993 shares of the software company’s stock worth $2,306,000 after acquiring an additional 30 shares in the last quarter. Wealth Alliance Advisory Group LLC lifted its position in shares of Adobe by 3.3% during the fourth quarter. Wealth Alliance Advisory Group LLC now owns 967 shares of the software company’s stock worth $319,000 after acquiring an additional 31 shares in the last quarter. Parkside Financial Bank & Trust lifted its position in shares of Adobe by 3.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,071 shares of the software company’s stock worth $353,000 after acquiring an additional 31 shares in the last quarter. PFG Advisors lifted its position in shares of Adobe by 1.0% during the fourth quarter. PFG Advisors now owns 3,607 shares of the software company’s stock worth $1,219,000 after acquiring an additional 35 shares in the last quarter. Finally, Brandywine Oak Private Wealth LLC lifted its position in shares of Adobe by 2.0% during the third quarter. Brandywine Oak Private Wealth LLC now owns 1,851 shares of the software company’s stock worth $511,000 after acquiring an additional 36 shares in the last quarter. Institutional investors and hedge funds own 85.46% of the company’s stock.

In related news, Director John E. Warnock sold 1,600 shares of the stock in a transaction on Monday, January 13th. The stock was sold at an average price of $345.38, for a total value of $552,608.00. Following the transaction, the director now owns 16,088 shares of the company’s stock, valued at $5,556,473.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Donna Morris sold 25,481 shares of the firm’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $348.16, for a total value of $8,871,464.96. Following the transaction, the executive vice president now directly owns 89,690 shares in the company, valued at $31,226,470.40. The disclosure for this sale can be found here. In the last three months, insiders sold 62,793 shares of company stock worth $21,169,089. 0.32% of the stock is owned by insiders.

Several equities research analysts have issued reports on the company. Wells Fargo & Co increased their target price on Adobe from $315.00 to $345.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 16th. UBS Group restated a “buy” rating and set a $360.00 target price on shares of Adobe in a research report on Friday, December 13th. BidaskClub upgraded Adobe from a “hold” rating to a “buy” rating in a research report on Tuesday, February 4th. Barclays reaffirmed a “neutral” rating and issued a $330.00 price target on shares of Adobe in a report on Monday, December 16th. Finally, Piper Jaffray Companies upped their price target on shares of Adobe from $339.00 to $360.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twenty have issued a buy rating to the company. Adobe has a consensus rating of “Buy” and a consensus price target of $336.28.

ADBE traded up $4.83 during trading on Friday, reaching $379.67. The stock had a trading volume of 1,690,281 shares, compared to its average volume of 2,183,050. The stock has a market cap of $178.39 billion, a PE ratio of 63.28, a PEG ratio of 2.84 and a beta of 1.09. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.79 and a current ratio of 0.79. Adobe Inc has a one year low of $249.10 and a one year high of $377.71. The business has a 50-day moving average of $347.05 and a 200-day moving average of $304.07.

Adobe (NASDAQ:ADBE) last released its earnings results on Thursday, December 12th. The software company reported $2.29 EPS for the quarter, beating the Zacks’ consensus estimate of $2.26 by $0.03. The business had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.97 billion. Adobe had a return on equity of 31.47% and a net margin of 26.42%. The firm’s revenue was up 21.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.83 earnings per share. Equities research analysts forecast that Adobe Inc will post 8.02 EPS for the current fiscal year.

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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