Adobe Inc. (NASDAQ:ADBE) Holdings Boosted by Shariaportfolio Inc.

Shariaportfolio Inc. boosted its holdings in Adobe Inc. (NASDAQ:ADBE) by 9.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,364 shares of the software company’s stock after acquiring an additional 283 shares during the period. Adobe comprises about 0.7% of Shariaportfolio Inc.’s investment portfolio, making the stock its 21st biggest holding. Shariaportfolio Inc.’s holdings in Adobe were worth $1,496,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. RPG Investment Advisory LLC raised its holdings in shares of Adobe by 1.4% during the fourth quarter. RPG Investment Advisory LLC now owns 23,604 shares of the software company’s stock valued at $10,496,000 after buying an additional 332 shares during the last quarter. Roffman Miller Associates Inc. PA raised its holdings in shares of Adobe by 6.1% during the fourth quarter. Roffman Miller Associates Inc. PA now owns 42,388 shares of the software company’s stock valued at $18,849,000 after buying an additional 2,429 shares during the last quarter. Conscious Wealth Investments LLC raised its holdings in shares of Adobe by 8.9% during the fourth quarter. Conscious Wealth Investments LLC now owns 5,101 shares of the software company’s stock valued at $2,193,000 after buying an additional 416 shares during the last quarter. South Dakota Investment Council raised its holdings in shares of Adobe by 187.3% during the fourth quarter. South Dakota Investment Council now owns 24,094 shares of the software company’s stock valued at $10,714,000 after buying an additional 15,709 shares during the last quarter. Finally, MONECO Advisors LLC raised its holdings in shares of Adobe by 14.0% during the fourth quarter. MONECO Advisors LLC now owns 832 shares of the software company’s stock valued at $370,000 after buying an additional 102 shares during the last quarter. Institutional investors own 81.79% of the company’s stock.

Adobe Trading Down 2.3 %

Adobe stock opened at $444.32 on Monday. The company has a 50 day moving average price of $440.46 and a 200 day moving average price of $493.88. Adobe Inc. has a 52 week low of $403.75 and a 52 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 firm has a market capitalization of $193.41 billion, a price-to-earnings ratio of 35.83, a P/E/G ratio of 2.20 and a beta of 1.31.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 EPS 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 analyst estimates of $5.54 billion. During the same quarter last year, the business posted $3.52 EPS. The company’s revenue was up 11.1% on a year-over-year basis. Research analysts forecast that Adobe Inc. will post 16.65 EPS for the current year.

Insider Buying and Selling at Adobe

In other Adobe news, EVP Scott Belsky sold 3,819 shares of Adobe stock in a transaction on Monday, January 27th. The shares were sold at an average price of $430.24, for a total transaction of $1,643,086.56. Following the completion of the sale, the executive vice president now owns 18,334 shares of the company’s stock, valued at $7,888,020.16. This trade represents a 17.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Amy Banse sold 606 shares of Adobe stock in a transaction on Friday, December 6th. The shares were sold at an average price of $550.00, for a total transaction of $333,300.00. Following the sale, the director now directly owns 32,929 shares of the company’s stock, valued at $18,110,950. This trade represents a 1.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,681 shares of company stock valued at $2,525,126 in the last quarter. Company insiders own 0.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ADBE. Sanford C. Bernstein cut their price target on Adobe from $644.00 to $587.00 and set an “outperform” rating on the stock in a report on Thursday, December 12th. Jefferies Financial Group lowered their price objective on shares of Adobe from $700.00 to $650.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. TD Cowen lowered shares of Adobe from a “buy” rating to a “hold” rating and lowered their price objective for the company from $625.00 to $550.00 in a research note on Thursday, December 12th. StockNews.com lowered shares of Adobe from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $475.00 price objective (down previously from $600.00) on shares of Adobe in a research note on Wednesday, January 8th. 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 given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $570.88.

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.