Onefund LLC Acquires 30 Shares of Adobe Inc. (NASDAQ:ADBE)

Onefund LLC increased its holdings in Adobe Inc. (NASDAQ:ADBE) by 2.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,193 shares of the software company’s stock after purchasing an additional 30 shares during the quarter. Onefund LLC’s holdings in Adobe were worth $531,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the business. Middleton & Co. Inc. MA grew its stake in shares of Adobe by 8.7% in the fourth quarter. Middleton & Co. Inc. MA now owns 22,426 shares of the software company’s stock worth $9,972,000 after purchasing an additional 1,798 shares during the last quarter. Jacobi Capital Management LLC boosted its position in Adobe by 5.8% during the 4th quarter. Jacobi Capital Management LLC now owns 4,759 shares of the software company’s stock valued at $2,116,000 after acquiring an additional 259 shares in the last quarter. Richard W. Paul & Associates LLC boosted its position in Adobe by 4.6% during the 4th quarter. Richard W. Paul & Associates LLC now owns 2,799 shares of the software company’s stock valued at $1,245,000 after acquiring an additional 124 shares in the last quarter. Metis Global Partners LLC boosted its position in Adobe by 0.9% during the 4th quarter. Metis Global Partners LLC now owns 26,961 shares of the software company’s stock valued at $11,989,000 after acquiring an additional 234 shares in the last quarter. Finally, US Bancorp DE boosted its position in Adobe by 22.1% during the 4th quarter. US Bancorp DE now owns 306,519 shares of the software company’s stock valued at $136,303,000 after acquiring an additional 55,582 shares in the last quarter. 81.79% of the stock is owned by institutional investors.

Analyst Ratings Changes

ADBE has been the topic of several research reports. Oppenheimer cut their price objective on Adobe from $625.00 to $600.00 and set an “outperform” rating on the stock in a research report on Thursday, December 12th. DA Davidson cut their price objective on Adobe from $685.00 to $625.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Jefferies Financial Group dropped their price target on Adobe from $700.00 to $650.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $475.00 price target (down from $600.00) on shares of Adobe in a research report on Wednesday, January 8th. Finally, BNP Paribas raised Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 price target on the stock in a research report on Wednesday, January 15th. One equities 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 assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $570.88.

Adobe Trading Up 0.3 %

NASDAQ:ADBE opened at $438.49 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. The firm has a market capitalization of $190.87 billion, a price-to-earnings ratio of 35.36, a price-to-earnings-growth ratio of 2.15 and a beta of 1.31. Adobe Inc. has a one year low of $403.75 and a one year high of $587.75. The business has a fifty day moving average price of $439.71 and a 200-day moving average price of $491.24.

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

Insiders Place Their Bets

In other Adobe news, CAO Jillian Forusz sold 334 shares of the stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total value of $145,567.22. Following the completion of the sale, the chief accounting officer now owns 2,685 shares in the company, valued at approximately $1,170,203.55. This represents a 11.06 % decrease in their position. The sale 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 shares were sold at an average price of $550.00, for a total value of $333,300.00. Following the transaction, the director now owns 32,929 shares of the company’s stock, valued at approximately $18,110,950. The trade was a 1.81 % decrease in their position. 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. Corporate insiders own 0.15% of the company’s stock.

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.