Novare Capital Management LLC Has $11.61 Million Stake in Adobe Inc. (NASDAQ:ADBE)

Novare Capital Management LLC lifted its stake in Adobe Inc. (NASDAQ:ADBE) by 0.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,103 shares of the software company’s stock after purchasing an additional 141 shares during the period. Novare Capital Management LLC’s holdings in Adobe were worth $11,607,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of ADBE. Mackenzie Financial Corp increased its position in Adobe by 0.7% in the second quarter. Mackenzie Financial Corp now owns 67,062 shares of the software company’s stock worth $37,256,000 after purchasing an additional 451 shares during the period. Susquehanna Fundamental Investments LLC bought a new position in shares of Adobe in the 2nd quarter valued at about $44,002,000. Ninepoint Partners LP grew its position in shares of Adobe by 7.6% during the 2nd quarter. Ninepoint Partners LP now owns 1,306 shares of the software company’s stock worth $726,000 after buying an additional 92 shares during the period. Peloton Wealth Strategists raised its stake in shares of Adobe by 19.6% during the second quarter. Peloton Wealth Strategists now owns 3,752 shares of the software company’s stock worth $2,084,000 after buying an additional 615 shares during the last quarter. Finally, Oliver Lagore Vanvalin Investment Group lifted its holdings in Adobe by 41.9% in the second quarter. Oliver Lagore Vanvalin Investment Group now owns 4,866 shares of the software company’s stock valued at $2,703,000 after buying an additional 1,438 shares during the period. Institutional investors own 81.79% of the company’s stock.

Adobe Trading Down 0.4 %

NASDAQ:ADBE opened at $435.38 on Friday. The company has a market cap of $189.52 billion, a P/E ratio of 35.11, a price-to-earnings-growth ratio of 2.12 and a beta of 1.31. Adobe Inc. has a twelve month low of $403.75 and a twelve month high of $638.25. The business has a 50 day moving average price of $468.14 and a two-hundred day moving average price of $508.06. 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 (NASDAQ:ADBE) last announced its earnings results on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, topping 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 analysts’ expectations of $5.54 billion. During the same quarter in the prior year, the company posted $3.52 earnings per share. The firm’s revenue was up 11.1% on a year-over-year basis. As a group, analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Analysts Set New Price Targets

ADBE has been the subject of several recent research reports. Mizuho dropped their target price on shares of Adobe from $640.00 to $620.00 and set an “outperform” rating for the company in a research report on Thursday, December 12th. Barclays dropped their price objective on Adobe from $675.00 to $645.00 and set an “overweight” rating for the company in a report on Thursday, December 12th. BNP Paribas upgraded Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 target price on the stock in a report on Wednesday, January 15th. Wells Fargo & Company decreased their target price on Adobe from $700.00 to $640.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Finally, BMO Capital Markets cut their price target on shares of Adobe from $600.00 to $570.00 and set an “outperform” rating on the stock in a research report on Thursday, December 12th. One analyst has rated the stock with a sell rating, ten have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $573.00.

Insider Activity

In other news, Director Amy Banse sold 606 shares of Adobe 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 completion of the transaction, the director now 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Jillian Forusz sold 676 shares of the company’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $484.97, for a total transaction of $327,839.72. Following the completion of the sale, the chief accounting officer now directly owns 2,715 shares in the company, valued at approximately $1,316,693.55. The trade was a 19.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.15% of the stock is owned by corporate insiders.

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.