Certuity LLC Boosts Stock Position in Adobe Inc. (NASDAQ:ADBE)

Certuity LLC increased its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 25.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,467 shares of the software company’s stock after buying an additional 902 shares during the period. Certuity LLC’s holdings in Adobe were worth $1,986,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Piscataqua Savings Bank grew its position in shares of Adobe by 226.7% in the third quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock valued at $25,000 after purchasing an additional 34 shares during the period. Legacy Investment Solutions LLC purchased a new stake in Adobe during the 3rd quarter worth approximately $26,000. Groupama Asset Managment increased its stake in Adobe by 28.8% during the 3rd quarter. Groupama Asset Managment now owns 51,482 shares of the software company’s stock worth $27,000 after buying an additional 11,522 shares in the last quarter. MidAtlantic Capital Management Inc. acquired a new position in shares of Adobe during the third quarter valued at approximately $30,000. Finally, True Wealth Design LLC lifted its position in shares of Adobe by 141.7% in the third quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock valued at $30,000 after acquiring an additional 34 shares in the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Adobe Trading Up 1.7 %

Shares of ADBE stock opened at $458.82 on Wednesday. The stock has a market capitalization of $199.72 billion, a P/E ratio of 37.00, a price-to-earnings-growth ratio of 2.11 and a beta of 1.31. Adobe Inc. has a fifty-two week low of $403.75 and a fifty-two week high of $626.34. 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 company has a 50 day moving average price of $452.62 and a 200 day moving average price of $498.52.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data 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 return on equity of 45.87% and a net margin of 25.85%. The business had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.54 billion. During the same quarter in the prior year, the company earned $3.52 earnings per share. The company’s revenue was up 11.1% on a year-over-year basis. Equities research analysts predict that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Insider Activity

In related 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 in the company, 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 document filed with the SEC, which is accessible through the SEC website. Also, Director Amy Banse sold 606 shares of the firm’s stock in a transaction on 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 approximately $18,110,950. This represents a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,681 shares of company stock worth $2,525,126. 0.15% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Royal Bank of Canada reduced their price objective on Adobe from $610.00 to $590.00 and set an “outperform” rating for the company in a research note on Thursday, December 12th. DA Davidson reduced their target price on shares of Adobe from $685.00 to $625.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. JMP Securities restated a “market perform” rating on shares of Adobe in a research report on Thursday, December 12th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $475.00 price objective (down previously from $600.00) on shares of Adobe in a report on Wednesday, January 8th. Finally, Wells Fargo & Company lowered their target price on Adobe from $700.00 to $640.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $573.00.

Adobe 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.