Adobe Inc. (NASDAQ:ADBE) Shares Acquired by Ownership Capital B.V.

Ownership Capital B.V. raised its position in Adobe Inc. (NASDAQ:ADBE) by 24.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 347,294 shares of the software company’s stock after buying an additional 67,541 shares during the quarter. Adobe accounts for 5.7% of Ownership Capital B.V.’s holdings, making the stock its 7th biggest holding. Ownership Capital B.V. owned 0.08% of Adobe worth $154,435,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC acquired a new stake in shares of Adobe in the third quarter valued at approximately $26,000. Groupama Asset Managment raised its holdings in Adobe by 28.8% in the 3rd quarter. Groupama Asset Managment now owns 51,482 shares of the software company’s stock valued at $27,000 after acquiring an additional 11,522 shares in the last quarter. MidAtlantic Capital Management Inc. bought a new stake in shares of Adobe during the 3rd quarter valued at $30,000. True Wealth Design LLC lifted its position in shares of Adobe by 141.7% during the 3rd quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock valued at $30,000 after acquiring an additional 34 shares during the period. Finally, Decker Retirement Planning Inc. bought a new position in shares of Adobe in the fourth quarter worth $31,000. Institutional investors own 81.79% of the company’s stock.

Adobe Trading Down 1.5 %

Shares of ADBE stock opened at $456.99 on Thursday. The stock has a 50-day moving average of $441.28 and a 200-day moving average of $494.89. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29. The stock has a market cap of $198.93 billion, a price-to-earnings ratio of 36.85, a PEG ratio of 2.23 and a beta of 1.31. Adobe Inc. has a 1-year low of $403.75 and a 1-year high of $587.75.

Adobe (NASDAQ:ADBE) last released its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share (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 firm 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 EPS. The company’s revenue was up 11.1% compared to the same quarter last year. On average, equities research analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. TD Cowen cut shares of Adobe from a “buy” rating to a “hold” rating and cut their price objective for the stock from $625.00 to $550.00 in a research report on Thursday, December 12th. DA Davidson cut their price target on shares of Adobe from $685.00 to $625.00 and set a “buy” rating for the company in a report on Thursday, December 12th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $475.00 price objective (down from $600.00) on shares of Adobe in a research note on Wednesday, January 8th. Citigroup cut their target price on Adobe from $616.00 to $590.00 and set a “neutral” rating for the company in a research note on Monday, December 9th. Finally, BMO Capital Markets decreased their price target on Adobe from $570.00 to $515.00 and set an “outperform” rating on the stock in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Adobe presently has a consensus rating of “Moderate Buy” and a consensus target price of $570.88.

Insider Activity at Adobe

In related news, EVP Scott Belsky sold 922 shares of the business’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $437.28, for a total transaction of $403,172.16. Following the transaction, the executive vice president now owns 22,153 shares in the company, valued at $9,687,063.84. The trade was a 4.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Amy Banse sold 606 shares of the firm’s stock in a transaction 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 sale, the director now owns 32,929 shares of the company’s stock, valued at $18,110,950. The trade was a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,681 shares of company stock worth $2,525,126 over the last quarter. Company 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.