Horizon Investments LLC Has $3.76 Million Stake in Adobe Inc. (NASDAQ:ADBE)

Horizon Investments LLC decreased its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 2.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,452 shares of the software company’s stock after selling 169 shares during the quarter. Horizon Investments LLC’s holdings in Adobe were worth $3,758,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. State Street Corp grew its position in shares of Adobe by 1.2% during the 3rd quarter. State Street Corp now owns 20,270,287 shares of the software company’s stock worth $10,495,544,000 after buying an additional 234,909 shares during the period. Geode Capital Management LLC grew its position in shares of Adobe by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 10,529,089 shares of the software company’s stock worth $5,435,377,000 after buying an additional 147,981 shares during the period. FMR LLC grew its position in shares of Adobe by 8.8% during the 3rd quarter. FMR LLC now owns 9,690,163 shares of the software company’s stock worth $5,017,373,000 after buying an additional 787,356 shares during the period. Fisher Asset Management LLC grew its holdings in Adobe by 2.0% during the third quarter. Fisher Asset Management LLC now owns 4,859,584 shares of the software company’s stock valued at $2,516,196,000 after purchasing an additional 93,143 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Adobe by 3.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,741,549 shares of the software company’s stock valued at $2,455,079,000 after purchasing an additional 140,390 shares during the period. Institutional investors and hedge funds own 81.79% of the company’s stock.

Insider Buying and Selling

In other Adobe news, CAO Jillian Forusz sold 334 shares of the firm’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $435.83, for a total value of $145,567.22. Following the transaction, the chief accounting officer now directly owns 2,685 shares of the company’s stock, valued at $1,170,203.55. This trade represents a 11.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David A. Ricks bought 2,250 shares of the firm’s stock in a transaction on Tuesday, January 28th. The stock was purchased at an average cost of $443.98 per share, for a total transaction of $998,955.00. Following the completion of the acquisition, the director now owns 4,984 shares in the company, valued at approximately $2,212,796.32. This trade represents a 82.30 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 5,075 shares of company stock valued at $2,191,826. 0.16% of the stock is owned by company insiders.

Adobe Price Performance

Shares of ADBE opened at $391.37 on Wednesday. The company has a market cap of $170.40 billion, a price-to-earnings ratio of 31.56, a PEG ratio of 2.15 and a beta of 1.37. Adobe Inc. has a 1-year low of $374.50 and a 1-year high of $587.75. The company’s fifty day simple moving average is $435.77 and its 200 day simple moving average is $479.02. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29.

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 firm had revenue of $5.71 billion for the quarter, compared to the consensus estimate of $5.66 billion. During the same period in the previous year, the company earned $4.48 earnings per share. On average, research analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on ADBE shares. BMO Capital Markets decreased their price objective on shares of Adobe from $515.00 to $495.00 and set an “outperform” rating for the company in a report on Thursday, March 13th. KeyCorp decreased their price objective on shares of Adobe from $450.00 to $390.00 and set an “underweight” rating for the company in a report on Thursday, March 13th. Royal Bank of Canada decreased their price objective on shares of Adobe from $550.00 to $530.00 and set an “outperform” rating for the company in a report on Thursday, March 13th. Citigroup decreased their price objective on shares of Adobe from $551.00 to $490.00 and set a “neutral” rating for the company in a report on Monday, March 10th. Finally, TD Cowen cut shares of Adobe from a “buy” rating to a “hold” rating and decreased their price objective for the company from $625.00 to $550.00 in a report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $542.00.

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.