New Republic Capital LLC Has $261,000 Stake in Adobe Inc. (NASDAQ:ADBE)

New Republic Capital LLC lowered its holdings in Adobe Inc. (NASDAQ:ADBE) by 28.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 588 shares of the software company’s stock after selling 230 shares during the quarter. New Republic Capital LLC’s holdings in Adobe were worth $261,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the business. Atlantic Edge Private Wealth Management LLC grew its holdings in Adobe by 0.4% during the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 5,406 shares of the software company’s stock worth $2,404,000 after acquiring an additional 23 shares during the last quarter. Sovran Advisors LLC bought a new position in shares of Adobe in the fourth quarter worth about $692,000. Stonebridge Financial Group LLC acquired a new position in shares of Adobe during the fourth quarter worth approximately $73,000. Violich Capital Management Inc. increased its holdings in shares of Adobe by 10.1% in the fourth quarter. Violich Capital Management Inc. now owns 5,258 shares of the software company’s stock valued at $2,338,000 after purchasing an additional 482 shares in the last quarter. Finally, Summit Trail Advisors LLC raised its position in shares of Adobe by 1.1% during the fourth quarter. Summit Trail Advisors LLC now owns 7,136 shares of the software company’s stock worth $3,173,000 after acquiring an additional 77 shares during the last quarter. Institutional investors own 81.79% of the company’s stock.

Analysts Set New Price Targets

ADBE has been the subject of a number of analyst reports. Mizuho lowered their target price on shares of Adobe from $640.00 to $620.00 and set an “outperform” rating for the company in a report on Thursday, December 12th. StockNews.com upgraded Adobe from a “buy” rating to a “strong-buy” rating in a report on Tuesday, January 28th. UBS Group cut their target price on Adobe from $525.00 to $475.00 and set a “neutral” rating on the stock in a research note on Friday, January 3rd. BMO Capital Markets decreased their target price 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, Jefferies Financial Group cut their price target on shares of Adobe from $700.00 to $650.00 and set a “buy” rating on the stock 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, sixteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Adobe presently has a consensus rating of “Moderate Buy” and a consensus target price of $573.00.

Insider Transactions at Adobe

In other news, Director David A. Ricks bought 2,250 shares of the firm’s stock in a transaction dated Tuesday, January 28th. The shares were bought at an average price of $443.98 per share, with a total value of $998,955.00. Following the completion of the transaction, the director now owns 4,984 shares of the company’s stock, valued at $2,212,796.32. This trade represents a 82.30 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Scott Belsky sold 922 shares of the company’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $437.28, for a total value of $403,172.16. Following the completion of the transaction, the executive vice president now directly owns 22,153 shares in the company, valued at approximately $9,687,063.84. This represents a 4.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,681 shares of company stock worth $2,525,126. 0.15% of the stock is owned by insiders.

Adobe Trading Up 4.2 %

NASDAQ ADBE opened at $451.10 on Tuesday. The company has a market cap of $196.36 billion, a PE ratio of 36.38, a PEG ratio of 2.11 and a beta of 1.31. Adobe Inc. has a 12 month low of $403.75 and a 12 month high of $626.34. The stock has a 50 day moving average of $453.92 and a 200-day moving average of $499.09. 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) last released its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $5.54 billion. During the same period last year, the firm posted $3.52 earnings per share. The business’s revenue was up 11.1% on a year-over-year basis. On average, equities research analysts anticipate 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.