Paragon Capital Management LLC Sells 91 Shares of Adobe Inc. (NASDAQ:ADBE)

Paragon Capital Management LLC lowered its holdings in Adobe Inc. (NASDAQ:ADBE) by 16.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 470 shares of the software company’s stock after selling 91 shares during the period. Paragon Capital Management LLC’s holdings in Adobe were worth $209,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Lee Danner & Bass Inc. bought a new stake in Adobe in the 4th quarter valued at about $56,000. AllSquare Wealth Management LLC boosted its holdings in Adobe by 145.0% in the 4th quarter. AllSquare Wealth Management LLC now owns 316 shares of the software company’s stock valued at $141,000 after purchasing an additional 187 shares during the period. Douglass Winthrop Advisors LLC boosted its holdings in Adobe by 11.3% in the 4th quarter. Douglass Winthrop Advisors LLC now owns 2,517 shares of the software company’s stock valued at $1,119,000 after purchasing an additional 255 shares during the period. Lingohr Asset Management GmbH bought a new stake in Adobe in the 4th quarter valued at about $339,000. Finally, iA Global Asset Management Inc. boosted its holdings in Adobe by 3.8% in the 4th quarter. iA Global Asset Management Inc. now owns 47,447 shares of the software company’s stock valued at $21,099,000 after purchasing an additional 1,727 shares during the period. Institutional investors own 81.79% of the company’s stock.

Adobe Stock Performance

Shares of ADBE stock opened at $389.61 on Friday. The firm has a 50-day moving average of $434.53 and a 200-day moving average of $477.76. The company has a market cap of $169.64 billion, a P/E ratio of 31.42, a P/E/G ratio of 2.15 and a beta of 1.37. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. Adobe Inc. has a one year low of $374.50 and a one year high of $587.75.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.97 by $0.11. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The company had revenue of $5.71 billion for the quarter, compared to analyst estimates of $5.66 billion. During the same quarter in the previous year, the firm posted $4.48 earnings per share. Equities research analysts forecast that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Insider Activity at Adobe

In related news, CAO Jillian Forusz sold 334 shares of the business’s stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $435.83, for a total transaction of $145,567.22. Following the completion of the transaction, the chief accounting officer now owns 2,685 shares of the company’s stock, valued at approximately $1,170,203.55. The trade was a 11.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Scott Belsky sold 3,819 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $430.24, for a total transaction of $1,643,086.56. Following the transaction, the executive vice president now directly owns 18,334 shares of the company’s stock, valued at approximately $7,888,020.16. This represents a 17.24 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,075 shares of company stock valued at $2,191,826. Corporate insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

ADBE has been the subject of a number of recent research reports. KeyCorp cut their price objective on shares of Adobe from $450.00 to $390.00 and set an “underweight” rating for the company in a report on Thursday, March 13th. Piper Sandler cut their price target on shares of Adobe from $635.00 to $600.00 and set an “overweight” rating for the company in a report on Thursday, December 12th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $475.00 price target (down previously from $600.00) on shares of Adobe in a report on Wednesday, January 8th. Wells Fargo & Company cut their price target on shares of Adobe from $640.00 to $600.00 and set an “overweight” rating for the company in a report on Friday, March 7th. Finally, DA Davidson cut their price target on shares of Adobe from $685.00 to $625.00 and set a “buy” rating for the company in a report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $538.80.

Adobe Company 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.