Adobe Inc. (NASDAQ:ADBE) Stock Holdings Decreased by United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund lessened its holdings in Adobe Inc. (NASDAQ:ADBE) by 64.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,247 shares of the software company’s stock after selling 52,203 shares during the quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund’s holdings in Adobe were worth $13,006,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the business. United Bank grew its position in Adobe by 19.7% in the 3rd quarter. United Bank now owns 2,596 shares of the software company’s stock worth $1,344,000 after purchasing an additional 428 shares during the last quarter. Penserra Capital Management LLC grew its stake in shares of Adobe by 1.2% in the third quarter. Penserra Capital Management LLC now owns 4,570 shares of the software company’s stock worth $2,365,000 after purchasing an additional 54 shares in the last quarter. Larson Financial Group LLC raised its stake in shares of Adobe by 105.0% during the third quarter. Larson Financial Group LLC now owns 1,101 shares of the software company’s stock valued at $570,000 after purchasing an additional 564 shares in the last quarter. Dai ichi Life Insurance Company Ltd grew its position in Adobe by 3.3% in the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 55,896 shares of the software company’s stock valued at $28,942,000 after buying an additional 1,779 shares in the last quarter. Finally, FMR LLC increased its stake in Adobe by 8.8% during the 3rd quarter. FMR LLC now owns 9,690,163 shares of the software company’s stock valued at $5,017,373,000 after buying an additional 787,356 shares during the period. Institutional investors own 81.79% of the company’s stock.

Adobe Price Performance

NASDAQ ADBE opened at $403.64 on Wednesday. The stock has a 50-day simple moving average of $433.70 and a 200 day simple moving average of $472.75. Adobe Inc. has a twelve month low of $374.50 and a twelve month high of $587.75. The stock has a market capitalization of $175.75 billion, a PE ratio of 32.55, 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 quick ratio of 1.07 and a current ratio of 1.07.

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

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Redburn Atlantic initiated coverage on shares of Adobe in a research note on Wednesday, February 19th. They set a “neutral” rating on the stock. DA Davidson dropped their price objective on Adobe from $685.00 to $625.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $530.00 target price on shares of Adobe in a research note on Wednesday, March 19th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $475.00 price target (down from $600.00) on shares of Adobe in a report on Wednesday, January 8th. Finally, UBS Group set a $495.00 target price on shares of Adobe in a report on Thursday, March 13th. Eleven investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Adobe presently has an average rating of “Moderate Buy” and a consensus price target of $538.80.

Insider Activity

In other Adobe news, CAO Jillian Forusz sold 334 shares of Adobe stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total value of $145,567.22. Following the completion of the transaction, the chief accounting officer now owns 2,685 shares in the company, valued at approximately $1,170,203.55. The trade was a 11.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Scott Belsky sold 3,819 shares of the firm’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $430.24, for a total value of $1,643,086.56. Following the completion of the sale, the executive vice president now owns 18,334 shares of the company’s stock, valued at approximately $7,888,020.16. This trade represents a 17.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,075 shares of company stock worth $2,191,826. Company insiders own 0.16% 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.