Lindenwold Advisors INC Reduces Stake in Adobe Inc.

Lindenwold Advisors INC has reduced its investment in Adobe Inc. (NASDAQ:ADBE) by 26.0% during the fourth quarter, as reported in their latest filing with the SEC. The firm now holds 3,067 shares of Adobe's stock after selling 1,077 shares during this period. The total value of their holdings in Adobe is approximately $1,364,000 based on the most recent SEC disclosure.

Institutional Investment Changes

Several other institutional investors have also made changes to their positions in Adobe's stock. For instance, Nordea Investment Management AB increased its stake by 2.0% during the fourth quarter, bringing its total to 1,712,616 shares valued at $765,094,000 after acquiring an additional 33,414 shares. Similarly, Arizona State Retirement System raised its holdings by 0.4%, now owning 127,696 shares worth $56,784,000 after buying 570 additional shares. Public Sector Pension Investment Board also expanded its shareholdings by 12.2% during the third quarter, holding 19,322 shares valued at $10,005,000. Jacobs Levy Equity Management Inc. significantly increased its stake by 201.0% in the third quarter, resulting in ownership of 117,383 shares valued at $60,779,000 after purchasing 78,384 shares. Lastly, Morse Asset Management Inc. grew its stake by 33.0% in the same quarter, owning 8,519 shares worth $4,411,000 after acquiring an additional 2,113 shares. Currently, institutional investors own 81.79% of Adobe's stock.

Insider Transactions

In related news, several insiders at Adobe have made stock transactions recently. On January 27, EVP Scott Belsky sold 3,819 shares at an average price of $430.24, totaling $1,643,086.56. After this sale, Belsky owned 18,334 shares, valued at around $7,888,020.16, reflecting a 17.24% decrease in his holdings. Additionally, CAO Jillian Forusz sold 334 shares on January 28 at an average price of $435.83 for a value of $145,567.22. Forusz's current holdings now comprise 2,685 shares, worth approximately $1,170,203.55, after a decrease of 11.06%. In the past 90 days, insiders have sold a total of 5,075 shares valued at $2,191,826. It's noted that insiders hold only 0.16% of the company’s stock.

Adobe's Stock Performance

On the trading floor, Adobe's stock opened at $391.37. The company has a current ratio of 1.07 and a quick ratio of 1.07, indicating good short-term financial health. The debt-to-equity ratio stands at 0.29, while Adobe's market capitalization is approximately $170.40 billion. The price-to-earnings ratio is 31.56, with a price-to-earnings-growth ratio of 2.15, and the stock has a beta of 1.37. Adobe's performance shows a fifty-day simple moving average of $435.77 and a two-hundred-day simple moving average of $479.02, with a twelve-month low of $374.50 and a high of $587.75.

Latest Earnings Report

Adobe recently reported its quarterly earnings on March 12, announcing earnings per share (EPS) of $5.08, exceeding analysts' expectations of $4.97 by $0.11. With a revenue of $5.71 billion, Adobe again beat anticipations of $5.66 billion. The company showed a net margin of 25.85% and an impressive return on equity of 45.87%. In comparison to the previous year, where the company reported $4.48 EPS, Adobe appears solid in its financial performance. Projections suggest that Adobe will reach 16.65 EPS for the current fiscal year.

Wall Street Analysts' Predictions

Research analysts have recently shared varying opinions on Adobe’s stock. TD Cowen downgraded Adobe from a "buy" rating to a "hold" rating, lowering the price target from $625.00 to $550.00 on December 12. Redburn Atlantic issued a "neutral" rating in their research report on February 19. Piper Sandler also reduced their price target from $635.00 to $600.00, maintaining an "overweight" rating. Deutsche Bank reiterated a "hold" rating with a revised price target from $600.00 to $475.00 on January 8. In a similar vein, Royal Bank of Canada set its target price at $530.00 from $550.00 while rating the stock as "outperform." In total, one analyst has assigned a sell rating, while ten have given hold ratings, seventeen have recommended buying, and one has issued a strong buy rating. Adobe's overall consensus is classified as a "Moderate Buy" with an average price target of $542.00.

About Adobe Inc.

Adobe Inc., along with its subsidiaries, functions as a diversified software company operating worldwide. The company is divided into three segments: Digital Media, Digital Experience, and Publishing and Advertising. The Digital Media segment focuses on products and services that allow individuals, teams, and organizations to create, publish, and promote content, alongside the Document Cloud, which is a unified cloud-based document services platform.

investment, Adobe, stock