Adobe Inc. (NASDAQ:ADBE) Shares Bought by Advisory Alpha LLC

Advisory Alpha LLC lifted its stake in Adobe Inc. (NASDAQ:ADBE) by 28.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 725 shares of the software company’s stock after acquiring an additional 159 shares during the period. Advisory Alpha LLC’s holdings in Adobe were worth $322,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in ADBE. Piscataqua Savings Bank lifted its stake in shares of Adobe by 226.7% in the 3rd quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock worth $25,000 after acquiring an additional 34 shares during the period. Legacy Investment Solutions LLC bought a new stake in shares of Adobe in the 3rd quarter worth approximately $26,000. Groupama Asset Managment raised its holdings in shares of Adobe by 28.8% in the 3rd quarter. Groupama Asset Managment now owns 51,482 shares of the software company’s stock worth $27,000 after purchasing an additional 11,522 shares in the last quarter. MidAtlantic Capital Management Inc. bought a new stake in shares of Adobe in the 3rd quarter worth approximately $30,000. Finally, True Wealth Design LLC raised its holdings in shares of Adobe by 141.7% in the 3rd quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock worth $30,000 after purchasing an additional 34 shares in the last quarter. 81.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Barclays dropped their target price on shares of Adobe from $675.00 to $645.00 and set an “overweight” rating on the stock in a report on Thursday, December 12th. BMO Capital Markets dropped their target price on shares of Adobe from $600.00 to $570.00 and set an “outperform” rating on the stock in a report on Thursday, December 12th. Bank of America cut their price target on shares of Adobe from $640.00 to $605.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Deutsche Bank Aktiengesellschaft restated 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. Finally, Sanford C. Bernstein cut their price target on shares of Adobe from $644.00 to $587.00 and set an “outperform” rating on the stock in a report on Thursday, December 12th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $573.00.

Insider Buying and Selling

In related news, CAO Jillian Forusz sold 676 shares of the company’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $484.97, for a total transaction of $327,839.72. Following the completion of the transaction, the chief accounting officer now directly owns 2,715 shares in the company, valued at $1,316,693.55. This represents a 19.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Amy Banse sold 606 shares of the company’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $550.00, for a total transaction of $333,300.00. Following the transaction, the director now owns 32,929 shares of the company’s stock, valued at approximately $18,110,950. The trade was a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.15% of the stock is owned by insiders.

Adobe Price Performance

NASDAQ ADBE opened at $437.28 on Friday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29. The company has a fifty day simple moving average of $471.36 and a 200 day simple moving average of $509.54. The company has a market cap of $190.35 billion, a P/E ratio of 35.26, a P/E/G ratio of 2.11 and a beta of 1.31. Adobe Inc. has a 1 year low of $403.75 and a 1 year high of $638.25.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.67 by $0.14. The business had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.54 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. Adobe’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.52 EPS. On average, sell-side analysts predict that Adobe Inc. will post 16.65 EPS for the current year.

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.