Impact Capital Partners LLC Makes New Investment in Adobe Inc. (NASDAQ:ADBE)

Impact Capital Partners LLC bought a new position in Adobe Inc. (NASDAQ:ADBE) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 914 shares of the software company’s stock, valued at approximately $406,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ADBE. Proficio Capital Partners LLC lifted its stake in shares of Adobe by 82,528.8% in the fourth quarter. Proficio Capital Partners LLC now owns 1,042,775 shares of the software company’s stock worth $463,701,000 after buying an additional 1,041,513 shares in the last quarter. FMR LLC lifted its position in Adobe by 8.8% during the third quarter. FMR LLC now owns 9,690,163 shares of the software company’s stock valued at $5,017,373,000 after purchasing an additional 787,356 shares during the period. Raymond James Financial Inc. bought a new position in Adobe during the fourth quarter valued at approximately $243,827,000. Assenagon Asset Management S.A. lifted its position in Adobe by 42.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,168,584 shares of the software company’s stock valued at $519,646,000 after purchasing an additional 347,536 shares during the period. Finally, Seilern Investment Management Ltd bought a new position in Adobe during the fourth quarter valued at approximately $110,744,000. Institutional investors own 81.79% of the company’s stock.

Adobe Stock Performance

ADBE opened at $377.84 on Friday. Adobe Inc. has a fifty-two week low of $374.50 and a fifty-two 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 company has a fifty day moving average of $437.74 and a 200 day moving average of $483.80. The stock has a market capitalization of $164.51 billion, a price-to-earnings ratio of 30.47, a PEG ratio of 2.15 and a beta of 1.37.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Wednesday, March 12th. The software company reported $5.08 EPS for the quarter, beating the consensus estimate of $4.97 by $0.11. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The business had revenue of $5.71 billion during the quarter, compared to analyst estimates of $5.66 billion. During the same quarter last year, the business earned $4.48 earnings per share. As a group, sell-side analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ADBE has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $475.00 target price (down from $600.00) on shares of Adobe in a report on Wednesday, January 8th. StockNews.com cut shares of Adobe from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 4th. TD Cowen cut shares of Adobe from a “buy” rating to a “hold” rating and reduced their target price for the company from $625.00 to $550.00 in a report on Thursday, December 12th. UBS Group reduced their target price on shares of Adobe from $475.00 to $460.00 and set a “neutral” rating for the company in a report on Thursday. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Adobe presently has a consensus rating of “Moderate Buy” and an average price target of $539.46.

Insider Transactions at Adobe

In other news, Director David A. Ricks bought 2,250 shares of the stock in a transaction dated Tuesday, January 28th. The stock was purchased at an average price of $443.98 per share, for a total transaction of $998,955.00. Following the acquisition, the director now owns 4,984 shares of the company’s stock, valued at $2,212,796.32. The trade was a 82.30 % increase in their ownership of the stock. The transaction 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 dated Tuesday, January 28th. The shares were sold at an average price of $435.83, for a total transaction of $145,567.22. Following the sale, the chief accounting officer now owns 2,685 shares of the company’s stock, valued at $1,170,203.55. The trade was a 11.06 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,075 shares of company stock worth $2,191,826. 0.15% of the stock is currently owned by insiders.

Adobe Company 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.