Cape Investment Advisory Inc. Grows Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

Cape Investment Advisory Inc. grew its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 34.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,591 shares of the software company’s stock after buying an additional 666 shares during the period. Cape Investment Advisory Inc.’s holdings in Adobe were worth $1,152,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the business. Purkiss Capital Advisors LLC purchased a new stake in Adobe during the fourth quarter worth approximately $205,000. Duncker Streett & Co. Inc. lifted its position in shares of Adobe by 2.2% during the 4th quarter. Duncker Streett & Co. Inc. now owns 8,388 shares of the software company’s stock worth $3,730,000 after buying an additional 177 shares during the last quarter. Cantillon Capital Management LLC lifted its position in shares of Adobe by 18.3% during the 4th quarter. Cantillon Capital Management LLC now owns 614,862 shares of the software company’s stock worth $273,417,000 after buying an additional 95,235 shares during the last quarter. Sherman Asset Management Inc. purchased a new stake in shares of Adobe during the 4th quarter worth approximately $68,000. Finally, Onefund LLC lifted its position in Adobe by 2.6% in the fourth quarter. Onefund LLC now owns 1,193 shares of the software company’s stock valued at $531,000 after acquiring an additional 30 shares during the last quarter. 81.79% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Adobe

In related news, Director Amy Banse sold 606 shares of Adobe stock in a transaction that occurred on 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. The trade was a 1.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Jillian Forusz sold 334 shares of Adobe stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 2,685 shares of the company’s stock, valued at $1,170,203.55. This represents a 11.06 % decrease in their ownership of the stock. 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 90 days. 0.15% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on ADBE shares. Sanford C. Bernstein reduced their price target on shares of Adobe from $644.00 to $587.00 and set an “outperform” rating for the company in a research report on Thursday, December 12th. BMO Capital Markets reduced their target price on Adobe from $570.00 to $515.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. Redburn Atlantic started coverage on Adobe in a research note on Wednesday, February 19th. They issued a “neutral” rating for the company. UBS Group reduced their price objective on Adobe from $525.00 to $475.00 and set a “neutral” rating for the company in a research note on Friday, January 3rd. Finally, Citigroup reduced their price target on shares of Adobe from $616.00 to $590.00 and set a “neutral” rating for the company in a research report on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Adobe has a consensus rating of “Moderate Buy” and a consensus target price of $570.88.

Adobe Stock Up 0.3 %

Shares of NASDAQ ADBE opened at $438.49 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29. Adobe Inc. has a 52 week low of $403.75 and a 52 week high of $587.75. The firm has a 50-day moving average price of $439.71 and a 200 day moving average price of $490.93. The stock 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 (NASDAQ:ADBE) last posted its quarterly earnings results 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. The company had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.54 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period last year, the firm earned $3.52 EPS. Equities research analysts anticipate that Adobe Inc. will post 16.65 EPS 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.