Adobe Inc. (NASDAQ:ADBE) Shares Purchased by Beese Fulmer Investment Management Inc.

Beese Fulmer Investment Management Inc. boosted its position in shares of Adobe Inc. (NASDAQ:ADBE) by 3.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,711 shares of the software company’s stock after buying an additional 690 shares during the period. Beese Fulmer Investment Management Inc.’s holdings in Adobe were worth $9,210,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. CWM LLC lifted its stake in Adobe by 7.9% in the 3rd quarter. CWM LLC now owns 42,449 shares of the software company’s stock worth $21,979,000 after purchasing an additional 3,097 shares in the last quarter. Abner Herrman & Brock LLC lifted its position in Adobe by 3.1% during the third quarter. Abner Herrman & Brock LLC now owns 31,310 shares of the software company’s stock worth $16,212,000 after buying an additional 932 shares in the last quarter. Marcum Wealth LLC grew its holdings in Adobe by 4.4% in the 3rd quarter. Marcum Wealth LLC now owns 1,152 shares of the software company’s stock valued at $596,000 after buying an additional 49 shares in the last quarter. Sanibel Captiva Trust Company Inc. increased its stake in shares of Adobe by 0.5% in the 3rd quarter. Sanibel Captiva Trust Company Inc. now owns 35,231 shares of the software company’s stock worth $18,242,000 after acquiring an additional 160 shares during the last quarter. Finally, Enterprise Bank & Trust Co raised its holdings in shares of Adobe by 1.5% during the 3rd quarter. Enterprise Bank & Trust Co now owns 2,409 shares of the software company’s stock worth $1,247,000 after acquiring an additional 35 shares during the period. Institutional investors and hedge funds own 81.79% of the company’s stock.

Insider Buying and Selling at Adobe

In other news, CAO Jillian Forusz sold 334 shares of the business’s stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $435.83, for a total transaction of $145,567.22. Following the completion of the transaction, the chief accounting officer now owns 2,685 shares of the company’s stock, valued at approximately $1,170,203.55. The trade was a 11.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Amy Banse sold 606 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The stock was 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 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. Insiders sold 5,681 shares of company stock valued at $2,525,126 over the last 90 days. 0.15% of the stock is owned by corporate insiders.

Adobe Price Performance

ADBE stock opened at $435.40 on Friday. The company has a market cap of $189.53 billion, a PE ratio of 35.11, a price-to-earnings-growth ratio of 2.12 and a beta of 1.31. Adobe Inc. has a 12-month low of $403.75 and a 12-month high of $628.07. 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 stock has a 50-day moving average price of $457.14 and a two-hundred day moving average price of $500.93.

Adobe (NASDAQ:ADBE) last announced its quarterly 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. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The firm had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.54 billion. During the same period in the prior year, the company earned $3.52 EPS. The firm’s revenue was up 11.1% on a year-over-year basis. As a group, research analysts predict that Adobe Inc. will post 16.65 EPS for the current year.

Analysts Set New Price Targets

ADBE has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $475.00 target price (down from $600.00) on shares of Adobe in a research note on Wednesday, January 8th. Royal Bank of Canada cut their target price on Adobe from $610.00 to $590.00 and set an “outperform” rating for the company in a research note on Thursday, December 12th. Sanford C. Bernstein decreased their price target on Adobe from $644.00 to $587.00 and set an “outperform” rating on the stock in a research note on Thursday, December 12th. BMO Capital Markets cut their price objective on Adobe from $600.00 to $570.00 and set an “outperform” rating for the company in a research report on Thursday, December 12th. Finally, UBS Group lowered their target price on shares of Adobe from $525.00 to $475.00 and set a “neutral” rating for the company in a research note on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $573.00.

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.