Private Wealth Partners LLC Boosts Stock Position in Adobe Inc. (NASDAQ:ADBE)

Private Wealth Partners LLC raised its stake in Adobe Inc. (NASDAQ:ADBE) by 12.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 50,449 shares of the software company’s stock after purchasing an additional 5,393 shares during the quarter. Adobe accounts for 1.7% of Private Wealth Partners LLC’s investment portfolio, making the stock its 18th biggest holding. Private Wealth Partners LLC’s holdings in Adobe were worth $22,434,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. Swedbank AB increased its position in Adobe by 0.3% during the 3rd quarter. Swedbank AB now owns 1,196,175 shares of the software company’s stock worth $619,355,000 after purchasing an additional 3,739 shares during the period. Raleigh Capital Management Inc. boosted its stake in shares of Adobe by 6.4% in the third quarter. Raleigh Capital Management Inc. now owns 836 shares of the software company’s stock valued at $433,000 after buying an additional 50 shares in the last quarter. Sequoia Financial Advisors LLC grew its holdings in Adobe by 8.7% during the third quarter. Sequoia Financial Advisors LLC now owns 8,157 shares of the software company’s stock worth $4,223,000 after acquiring an additional 654 shares during the period. Pictet North America Advisors SA raised its position in Adobe by 798.8% in the third quarter. Pictet North America Advisors SA now owns 5,033 shares of the software company’s stock worth $2,606,000 after acquiring an additional 4,473 shares in the last quarter. Finally, Tempus Wealth Planning LLC lifted its holdings in Adobe by 6.6% in the third quarter. Tempus Wealth Planning LLC now owns 402 shares of the software company’s stock valued at $208,000 after acquiring an additional 25 shares during the period. Institutional investors and hedge funds own 81.79% of the company’s stock.

Adobe Price Performance

Shares of NASDAQ:ADBE opened at $456.99 on Thursday. The company has a market cap of $198.93 billion, a P/E ratio of 36.85, a P/E/G ratio of 2.23 and a beta of 1.31. The business has a fifty day simple moving average of $441.28 and a 200-day simple moving average of $494.89. Adobe Inc. has a 52 week low of $403.75 and a 52 week high of $587.75. 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 posted its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, beating the consensus estimate of $4.67 by $0.14. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The company had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.54 billion. During the same quarter in the previous year, the business earned $3.52 EPS. The firm’s revenue was up 11.1% on a year-over-year basis. Equities research analysts forecast that Adobe Inc. will post 16.65 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on ADBE shares. Barclays lowered their price target on shares of Adobe from $675.00 to $645.00 and set an “overweight” rating on the stock in a research note on Thursday, December 12th. Stifel Nicolaus lowered their target price on shares of Adobe from $650.00 to $600.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Bank of America reduced their price target on shares of Adobe from $640.00 to $605.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. Redburn Atlantic assumed coverage on Adobe in a report on Wednesday. They issued a “neutral” rating on the stock. Finally, Wells Fargo & Company dropped their price objective on Adobe from $700.00 to $640.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $570.88.

Insiders Place Their Bets

In other Adobe news, EVP Scott Belsky sold 922 shares of Adobe stock in a transaction that occurred 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 directly owns 22,153 shares of the company’s stock, valued at $9,687,063.84. The trade was a 4.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Jillian Forusz sold 334 shares of the business’s stock in a transaction that occurred on Tuesday, January 28th. The stock was 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 approximately $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 have sold a total of 5,681 shares of company stock valued at $2,525,126 over the last quarter. Company insiders own 0.15% of the company’s stock.

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.