Oppenheimer & Co. Inc. Has $13.73 Million Holdings in Adobe Inc. (NASDAQ:ADBE)

Oppenheimer & Co. Inc. raised its position in Adobe Inc. (NASDAQ:ADBE) by 7.3% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 30,875 shares of the software company’s stock after acquiring an additional 2,104 shares during the period. Oppenheimer & Co. Inc.’s holdings in Adobe were worth $13,729,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp grew its stake in Adobe by 1.2% in the third quarter. State Street Corp now owns 20,270,287 shares of the software company’s stock valued at $10,495,544,000 after acquiring an additional 234,909 shares during the period. Geode Capital Management LLC boosted its position in shares of Adobe by 1.4% during the third quarter. Geode Capital Management LLC now owns 10,529,089 shares of the software company’s stock valued at $5,435,377,000 after buying an additional 147,981 shares during the last quarter. FMR LLC boosted its position in shares of Adobe by 8.8% during the third quarter. FMR LLC now owns 9,690,163 shares of the software company’s stock valued at $5,017,373,000 after buying an additional 787,356 shares during the last quarter. Fisher Asset Management LLC boosted its position in shares of Adobe by 2.0% during the third quarter. Fisher Asset Management LLC now owns 4,859,584 shares of the software company’s stock valued at $2,516,196,000 after buying an additional 93,143 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Adobe by 3.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,741,549 shares of the software company’s stock valued at $2,455,079,000 after buying an additional 140,390 shares during the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Insider Buying and Selling

In other news, Director Amy Banse sold 606 shares of the company’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 completion of the transaction, the director now directly owns 32,929 shares in the company, valued at approximately $18,110,950. This represents a 1.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Scott Belsky sold 3,819 shares of the company’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $430.24, for a total value of $1,643,086.56. Following the completion of the transaction, the executive vice president now owns 18,334 shares of the company’s stock, valued at $7,888,020.16. The trade was a 17.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,681 shares of company stock worth $2,525,126 over the last ninety days. 0.15% of the stock is owned by corporate insiders.

Adobe Price Performance

Shares of NASDAQ ADBE opened at $441.50 on Thursday. The stock has a market cap of $192.18 billion, a PE ratio of 35.60, a price-to-earnings-growth ratio of 2.15 and a beta of 1.31. Adobe Inc. has a fifty-two week low of $403.75 and a fifty-two week high of $587.75. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07. The stock has a fifty day moving average of $439.88 and a 200-day moving average of $492.27.

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

Wall Street Analyst Weigh In

ADBE has been the topic of several analyst reports. Barclays cut their target price on Adobe from $675.00 to $645.00 and set an “overweight” rating on the stock in a research report on Thursday, December 12th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $475.00 target price (down previously from $600.00) on shares of Adobe in a research report on Wednesday, January 8th. Jefferies Financial Group cut their target price on Adobe from $700.00 to $650.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Citigroup dropped their price target on Adobe from $616.00 to $590.00 and set a “neutral” rating on the stock in a report on Monday, December 9th. Finally, Oppenheimer dropped their price target on Adobe from $625.00 to $600.00 and set an “outperform” rating on the stock in a report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $570.88.

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.