Adobe Inc. (NASDAQ:ADBE) Shares Bought by Mogy Joel R Investment Counsel Inc.

Mogy Joel R Investment Counsel Inc. boosted its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 1.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 65,638 shares of the software company’s stock after purchasing an additional 673 shares during the period. Adobe makes up about 1.7% of Mogy Joel R Investment Counsel Inc.’s portfolio, making the stock its 19th biggest position. Mogy Joel R Investment Counsel Inc.’s holdings in Adobe were worth $29,188,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in ADBE. International Assets Investment Management LLC increased its stake in shares of Adobe by 66,909.7% in the third quarter. International Assets Investment Management LLC now owns 1,378,390 shares of the software company’s stock worth $713,703,000 after acquiring an additional 1,376,333 shares during the period. FMR LLC boosted its holdings in Adobe by 8.8% in the third quarter. FMR LLC now owns 9,690,163 shares of the software company’s stock valued at $5,017,373,000 after purchasing an additional 787,356 shares during the last quarter. Assenagon Asset Management S.A. grew its position in Adobe by 42.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,168,584 shares of the software company’s stock worth $519,646,000 after purchasing an additional 347,536 shares during the period. Seilern Investment Management Ltd purchased a new position in shares of Adobe during the 4th quarter valued at about $110,744,000. Finally, Erste Asset Management GmbH acquired a new position in shares of Adobe in the 3rd quarter valued at about $126,703,000. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Adobe Stock Up 0.7 %

NASDAQ ADBE opened at $429.99 on Tuesday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29. The business’s fifty day simple moving average is $475.06 and its 200-day simple moving average is $511.05. Adobe Inc. has a 52 week low of $403.75 and a 52 week high of $638.25. The firm has a market cap of $187.17 billion, a PE ratio of 34.68, a P/E/G ratio of 2.08 and a beta of 1.31.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, beating the consensus estimate of $4.67 by $0.14. The business had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.54 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The company’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.52 EPS. As a group, equities analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current year.

Insider Buying and Selling at Adobe

In other news, Director Amy Banse sold 606 shares of the stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $550.00, for a total transaction of $333,300.00. Following the sale, the director now owns 32,929 shares of the company’s stock, valued at approximately $18,110,950. This represents a 1.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Scott Belsky sold 481 shares of Adobe stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $483.42, for a total transaction of $232,525.02. Following the completion of the transaction, the executive vice president now owns 18,128 shares of the company’s stock, valued at $8,763,437.76. This trade represents a 2.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,763 shares of company stock valued at $893,665 over the last quarter. 0.15% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts recently commented on ADBE shares. Citigroup dropped their target price on Adobe from $616.00 to $590.00 and set a “neutral” rating on the stock in a report on Monday, December 9th. BNP Paribas raised shares of Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 price objective on the stock in a research note on Wednesday, January 15th. BMO Capital Markets decreased their target price on shares of Adobe from $600.00 to $570.00 and set an “outperform” rating for the company in a research note on Thursday, December 12th. UBS Group dropped their price target on shares of Adobe from $525.00 to $475.00 and set a “neutral” rating on the stock in a research report on Friday, January 3rd. Finally, Bank of America decreased their price objective on shares of Adobe from $640.00 to $605.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $573.00.

Adobe 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.