Trillium Asset Management LLC Reduces Stake in Adobe Inc.

Trillium Asset Management LLC has recently disclosed a decrease in its shareholding of Adobe Inc. (NASDAQ:ADBE) by 5.3% for the fourth quarter. According to the firm's latest filing with the Securities and Exchange Commission (SEC), it now owns 115,917 shares after selling 6,533 shares during the quarter. This reduction means that Adobe now represents about 1.3% of Trillium's total investment portfolio, making it the firm's tenth largest holding. As of the most recent SEC report, these holdings are valued at approximately $51,545,000.

In addition to Trillium, various other institutional investors and hedge funds have also adjusted their stakes in Adobe. For instance, Proficio Capital Partners LLC significantly increased its position by an astonishing 82,528.8% during the fourth quarter, now holding 1,042,775 shares worth around $463,701,000 after acquiring over one million additional shares. FMR LLC also raised its stake by 8.8%, resulting in a total of 9,690,163 shares valued at about $5,017,373,000. Raymond James Financial Inc. took a new position in Adobe, investing approximately $243,827,000. Furthermore, Assenagon Asset Management S.A. increased its stake by 42.3%, owning 1,168,584 shares worth $519,646,000 after buying an extra 347,536 shares.

Adobe Stock Overview

As of the most recent trading, Adobe's stock opened at $391.37. The company has seen its shares fluctuate, with a 50-day simple moving average of $435.77 and a 200-day simple moving average of $479.02. Notably, Adobe's stock has experienced a one-year low of $374.50 and a high of $587.75. Financially, Adobe maintains a solid position, boasting a market capitalization of $170.40 billion, with a price-to-earnings ratio of 31.56 and a beta value of 1.37. The company's debt-to-equity ratio stands at 0.29 and both its current and quick ratios are at 1.07.

Recent Earnings

Adobe recently reported its quarterly earnings on March 12th, where it delivered earnings per share of $5.08, surpassing analysts' expectations of $4.97. The company achieved a net margin of 25.85% alongside a remarkable return on equity of 45.87%. With revenue reaching $5.71 billion, it outperformed the forecasted $5.66 billion. Last year during the same quarter, Adobe posted earnings of $4.48 per share. Analysts currently estimate that Adobe Inc. will produce an EPS of 16.65 for the current year.

Analyst Perspectives

Adobe has been subject to various analyst evaluations. KeyCorp reduced its price target from $450.00 to $390.00, rating the stock as "underweight" in its report. Citigroup set a new price objective at $490.00 from an earlier $551.00 while maintaining a "neutral" rating. Other firms like Sanford C. Bernstein and BNP Paribas also adjusted their pricing, with several recommending a neutral stance. Ultimately, one analyst has issued a sell rating, ten have a hold rating, and seventeen give a buy rating, resulting in an overall consensus of a "Moderate Buy" with an average price target of $542.00.

Insider Transactions

In related news, some insiders at Adobe have also engaged in stock transactions. CAO Jillian Forusz sold 334 shares on January 28th at an average price of $435.83, totaling $145,567.22. Following this sale, Forusz holds 2,685 shares valued at around $1,170,203.55, marking an 11.06% decrease in her position. Similarly, EVP Scott Belsky sold 3,819 shares on January 27th at an average price of $430.24, accumulating $1,643,086.56 from the sale. Following this transaction, Belsky's holdings decreased by 17.24% to 18,334 shares, valued at nearly $7,888,020. The total shares sold by company insiders in the last 90 days amount to 5,075, collectively valued at $2,191,826, and insiders currently hold 0.16% of Adobe's stock.

About Adobe Inc.

Adobe Inc. operates as a diversified software company worldwide. It is divided into three main segments: Digital Media, Digital Experience, and Publishing and Advertising. The Digital Media segment provides products and services that empower individuals, teams, and enterprises to create, publish, and promote content, including the Document Cloud platform for document services.

Adobe, Investment, Stock