By otakuyassine3@gmail.com 
Patton Albertson Miller Group LLC lifted its stake in shares of Adobe Inc. (NASDAQ:ADBE – Free Report) by 6.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,344 shares of the software company’s stock after buying an additional 751 shares during the period. Patton Albertson Miller Group LLC’s holdings in Adobe were worth $5,934,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Insight Inv LLC bought a new position in Adobe in the fourth quarter valued at about $235,000. Stewardship Advisors LLC increased its stake in shares of Adobe by 10.6% in the fourth quarter. Stewardship Advisors LLC now owns 541 shares of the software company’s stock valued at $241,000 after buying an additional 52 shares during the period. B.O.S.S. Retirement Advisors LLC raised its holdings in Adobe by 71.3% in the 4th quarter. B.O.S.S. Retirement Advisors LLC now owns 879 shares of the software company’s stock valued at $391,000 after buying an additional 366 shares during the last quarter. Advocate Group LLC boosted its position in Adobe by 11.3% during the 4th quarter. Advocate Group LLC now owns 12,383 shares of the software company’s stock worth $5,506,000 after buying an additional 1,255 shares during the period. Finally, Linden Thomas Advisory Services LLC grew its holdings in Adobe by 8.0% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 10,672 shares of the software company’s stock worth $4,746,000 after acquiring an additional 794 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several research firms have recently issued reports on ADBE. DA Davidson dropped their price target on shares of Adobe from $685.00 to $625.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. Mizuho lowered their target price on Adobe from $640.00 to $620.00 and set an “outperform” rating for the company in a research report on Thursday, December 12th. Royal Bank of Canada lowered their price objective on Adobe from $610.00 to $590.00 and set an “outperform” rating for the company in a research report on Thursday, December 12th. Jefferies Financial Group reduced their target price on Adobe from $700.00 to $650.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Finally, Stifel Nicolaus decreased their target price on shares of Adobe from $650.00 to $600.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Adobe presently has a consensus rating of “Moderate Buy” and a consensus target price of $573.00.
Get Our Latest Stock Report on Adobe
Insider Activity
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 value of $333,300.00. Following the completion of the sale, the director now owns 32,929 shares in the company, valued at $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 SEC, which is available at this hyperlink. Also, CAO Jillian Forusz sold 676 shares of the business’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 transaction, the chief accounting officer now owns 2,715 shares in the company, valued at approximately $1,316,693.55. This trade represents a 19.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.15% of the company’s stock.
Adobe Stock Performance
ADBE opened at $435.38 on Friday. Adobe Inc. has a 1-year low of $403.75 and a 1-year high of $638.25. The company has a market cap of $189.52 billion, a price-to-earnings ratio of 35.11, a PEG ratio of 2.12 and a beta of 1.31. The company’s fifty day moving average price is $468.14 and its two-hundred day moving average price is $508.06. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29.
Adobe (NASDAQ:ADBE – Get Free Report) last posted its earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share for the quarter, topping analysts’ consensus estimates of $4.67 by $0.14. The company had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.54 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The firm’s revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.52 EPS. On average, analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.
About Adobe
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.
Read More
Receive News & Ratings for Adobe Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Adobe and related companies with MarketBeat.com’s FREE daily email newsletter.