Ghe LLC Boosts Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

Ghe LLC increased its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 2.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,577 shares of the software company’s stock after acquiring an additional 670 shares during the period. Adobe makes up 4.1% of Ghe LLC’s investment portfolio, making the stock its 2nd largest holding. Ghe LLC’s holdings in Adobe were worth $10,484,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. Swedbank AB raised its holdings in Adobe by 0.3% in the third quarter. Swedbank AB now owns 1,196,175 shares of the software company’s stock worth $619,355,000 after buying an additional 3,739 shares during the last quarter. Arkadios Wealth Advisors raised its holdings in Adobe by 10.7% in the third quarter. Arkadios Wealth Advisors now owns 2,619 shares of the software company’s stock worth $1,356,000 after buying an additional 254 shares during the last quarter. Consolidated Portfolio Review Corp raised its holdings in shares of Adobe by 5.7% during the third quarter. Consolidated Portfolio Review Corp now owns 651 shares of the software company’s stock valued at $337,000 after purchasing an additional 35 shares during the last quarter. Modera Wealth Management LLC raised its holdings in shares of Adobe by 2.7% during the third quarter. Modera Wealth Management LLC now owns 20,746 shares of the software company’s stock valued at $10,742,000 after purchasing an additional 549 shares during the last quarter. Finally, Mattern Capital Management LLC raised its holdings in shares of Adobe by 10.9% during the third quarter. Mattern Capital Management LLC now owns 1,312 shares of the software company’s stock valued at $679,000 after purchasing an additional 129 shares during the last quarter. Institutional investors own 81.79% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Wells Fargo & Company decreased their price objective on shares of Adobe from $700.00 to $640.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Oppenheimer decreased their price objective on shares of Adobe from $625.00 to $600.00 and set an “outperform” rating for the company in a report on Thursday, December 12th. Royal Bank of Canada reissued an “outperform” rating and set a $590.00 price objective on shares of Adobe in a report on Thursday, February 13th. BMO Capital Markets decreased their price objective on shares of Adobe from $570.00 to $515.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. Finally, StockNews.com cut shares of Adobe from a “strong-buy” rating to a “buy” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $570.88.

Insider Activity

In related news, CAO Jillian Forusz sold 334 shares of the firm’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $435.83, for a total value of $145,567.22. Following the transaction, the chief accounting officer now owns 2,685 shares of the company’s stock, valued at $1,170,203.55. This trade represents a 11.06 % decrease in their position. The transaction was disclosed in a filing 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 dated Friday, December 6th. The stock was sold at an average price of $550.00, for a total transaction of $333,300.00. Following the completion of the transaction, the director now directly owns 32,929 shares in the company, valued at $18,110,950. This represents a 1.81 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,681 shares of company stock valued at $2,525,126. 0.15% of the stock is currently owned by company insiders.

Adobe Price Performance

ADBE stock opened at $444.32 on Monday. Adobe Inc. has a 52 week low of $403.75 and a 52 week high of $587.75. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29. The company has a fifty day simple moving average of $440.46 and a two-hundred day simple moving average of $493.88. The firm has a market capitalization of $193.41 billion, a P/E ratio of 35.83, a price-to-earnings-growth ratio of 2.20 and a beta of 1.31.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, beating the consensus estimate of $4.67 by $0.14. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The business 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 earned $3.52 earnings per share. Adobe’s quarterly revenue was up 11.1% compared to the same quarter last year. Analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

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.