Fort Washington Investment Advisors Inc. OH Acquires 33 Shares of Adobe Inc. (NASDAQ:ADBE)

Fort Washington Investment Advisors Inc. OH boosted its holdings in Adobe Inc. (NASDAQ:ADBE) by 0.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,641 shares of the software company’s stock after acquiring an additional 33 shares during the period. Fort Washington Investment Advisors Inc. OH’s holdings in Adobe were worth $1,619,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in ADBE. International Assets Investment Management LLC raised its stake in Adobe by 66,909.7% in the 3rd quarter. International Assets Investment Management LLC now owns 1,378,390 shares of the software company’s stock valued at $713,703,000 after acquiring an additional 1,376,333 shares during the period. FMR LLC increased its position in Adobe by 8.8% during the 3rd quarter. FMR LLC now owns 9,690,163 shares of the software company’s stock worth $5,017,373,000 after buying an additional 787,356 shares during the period. Assenagon Asset Management S.A. increased 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 buying an additional 347,536 shares during the period. Seilern Investment Management Ltd bought a new position in Adobe during the 4th quarter worth $110,744,000. Finally, Erste Asset Management GmbH bought a new position in Adobe during the 3rd quarter worth $126,703,000. Institutional investors own 81.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ADBE shares. TD Cowen cut Adobe from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $625.00 to $550.00 in a research report on Thursday, December 12th. UBS Group lowered their price objective on Adobe from $525.00 to $475.00 and set a “neutral” rating on the stock in a research report on Friday, January 3rd. BNP Paribas upgraded Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 price objective on the stock in a research report on Wednesday, January 15th. Citigroup reduced 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. Finally, Sanford C. Bernstein reduced their target price on 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 given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Adobe presently has a consensus rating of “Moderate Buy” and a consensus target price of $573.00.

Adobe Stock Performance

Shares of ADBE stock opened at $437.28 on Friday. Adobe Inc. has a 12 month low of $403.75 and a 12 month high of $638.25. 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 firm has a market capitalization of $190.35 billion, a price-to-earnings ratio of 35.26, a PEG ratio of 2.11 and a beta of 1.31. The business’s 50-day moving average price is $471.36 and its 200-day moving average price is $509.54.

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

Insider Transactions at Adobe

In other news, CAO Jillian Forusz sold 676 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The stock was 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 trade represents a 19.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Amy Banse sold 606 shares of the firm’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 owns 32,929 shares of the company’s stock, valued at $18,110,950. This trade represents 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 corporate insiders.

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.