Boltwood Capital Management Has $852,000 Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

Boltwood Capital Management decreased its position in Adobe Inc. (NASDAQ:ADBE) by 1.9% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,915 shares of the software company’s stock after selling 37 shares during the period. Boltwood Capital Management’s holdings in Adobe were worth $852,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Private Advisor Group LLC increased its stake in Adobe by 11.5% during the 2nd quarter. Private Advisor Group LLC now owns 25,577 shares of the software company’s stock worth $14,209,000 after purchasing an additional 2,631 shares in the last quarter. Savant Capital LLC lifted its position in Adobe by 2.7% in the 2nd quarter. Savant Capital LLC now owns 6,984 shares of the software company’s stock valued at $3,880,000 after acquiring an additional 186 shares in the last quarter. Advisor OS LLC boosted its stake in Adobe by 3.8% in the 2nd quarter. Advisor OS LLC now owns 1,374 shares of the software company’s stock worth $763,000 after purchasing an additional 50 shares during the period. Umpqua Bank increased its holdings in Adobe by 13.8% during the 2nd quarter. Umpqua Bank now owns 2,939 shares of the software company’s stock worth $1,633,000 after purchasing an additional 356 shares in the last quarter. Finally, Strategic Financial Concepts LLC acquired a new stake in shares of Adobe in the 2nd quarter valued at about $40,417,000. Institutional investors own 81.79% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Scott Belsky sold 481 shares of the company’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $483.42, for a total transaction of $232,525.02. Following the completion of the sale, the executive vice president now directly owns 18,128 shares in the company, valued at $8,763,437.76. This represents a 2.58 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Amy Banse sold 606 shares of the business’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $550.00, for a total value of $333,300.00. Following the transaction, the director now directly owns 32,929 shares of the company’s stock, valued at approximately $18,110,950. The trade was a 1.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,293 shares of company stock worth $1,679,809 over the last ninety days. Corporate insiders own 0.15% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on ADBE shares. Deutsche Bank Aktiengesellschaft decreased their price objective on Adobe from $650.00 to $600.00 and set a “buy” rating for the company in a report on Thursday, December 12th. Bank of America decreased their price target on shares of Adobe from $640.00 to $605.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. Sanford C. Bernstein cut their price objective on shares of Adobe from $644.00 to $587.00 and set an “outperform” rating on the stock in a research report on Thursday, December 12th. Argus upgraded shares of Adobe to a “strong-buy” rating in a research note on Monday, September 16th. Finally, Piper Sandler lowered their target price on Adobe from $635.00 to $600.00 and set an “overweight” rating on the stock in a research report on Thursday, December 12th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, seventeen 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 an average target price of $582.96.

Adobe Stock Performance

Shares of NASDAQ:ADBE traded up $4.04 on Monday, reaching $434.61. 1,123,959 shares of the company’s stock were exchanged, compared to its average volume of 3,021,075. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.28. Adobe Inc. has a twelve month low of $425.32 and a twelve month high of $638.25. The company has a fifty day moving average of $490.31 and a 200-day moving average of $520.78. The company has a market capitalization of $191.32 billion, a price-to-earnings ratio of 35.05, a PEG ratio of 2.51 and a beta of 1.31.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 earnings per share for the quarter, beating the consensus estimate of $4.67 by $0.14. The firm had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.54 billion. Adobe had a return on equity of 45.22% and a net margin of 25.85%. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.52 EPS. On average, research analysts predict that Adobe Inc. will post 16.73 EPS for the current fiscal year.

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.