Stanley Laman Group Ltd. Grows Position in Adobe Inc. (NASDAQ:ADBE)

Stanley Laman Group Ltd. grew its stake in Adobe Inc. (NASDAQ:ADBE) by 87.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 777 shares of the software company’s stock after purchasing an additional 362 shares during the period. Stanley Laman Group Ltd.’s holdings in Adobe were worth $346,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Nordea Investment Management AB boosted its position in Adobe by 2.0% in the 4th quarter. Nordea Investment Management AB now owns 1,712,616 shares of the software company’s stock worth $765,094,000 after purchasing an additional 33,414 shares in the last quarter. Public Sector Pension Investment Board lifted its position in shares of Adobe by 12.2% during the 3rd quarter. Public Sector Pension Investment Board now owns 19,322 shares of the software company’s stock valued at $10,005,000 after buying an additional 2,100 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its position in shares of Adobe by 201.0% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 117,383 shares of the software company’s stock valued at $60,779,000 after buying an additional 78,384 shares in the last quarter. Morse Asset Management Inc lifted its position in shares of Adobe by 33.0% during the 3rd quarter. Morse Asset Management Inc now owns 8,519 shares of the software company’s stock valued at $4,411,000 after buying an additional 2,113 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its position in shares of Adobe by 1.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 99,150 shares of the software company’s stock valued at $44,090,000 after buying an additional 1,326 shares in the last quarter. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Adobe Stock Performance

NASDAQ ADBE opened at $459.22 on Friday. The stock has a market cap of $199.90 billion, a PE ratio of 37.03, a P/E/G ratio of 2.11 and a beta of 1.31. 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 Inc. has a twelve month low of $403.75 and a twelve month high of $610.33. The stock has a fifty day simple moving average of $449.99 and a 200-day simple moving average of $497.68.

Adobe (NASDAQ:ADBE) last released its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share for the quarter, topping analysts’ consensus estimates of $4.67 by $0.14. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The business had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.54 billion. During the same period in the prior year, the business posted $3.52 EPS. The company’s revenue was up 11.1% compared to the same quarter last year. Equities analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. BMO Capital Markets decreased their target price on Adobe from $600.00 to $570.00 and set an “outperform” rating on the stock in a research report on Thursday, December 12th. StockNews.com upgraded Adobe from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, January 28th. Sanford C. Bernstein decreased their target price on Adobe from $644.00 to $587.00 and set an “outperform” rating on the stock in a research report on Thursday, December 12th. DA Davidson decreased their target price on Adobe from $685.00 to $625.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $590.00 target price on shares of Adobe in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $573.00.

Insider Activity at Adobe

In related news, Director Amy Banse sold 606 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 32,929 shares in the company, 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 through this link. Also, EVP Scott Belsky sold 3,819 shares of the firm’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $430.24, for a total value of $1,643,086.56. Following the transaction, the executive vice president now owns 18,334 shares of the company’s stock, valued at $7,888,020.16. This trade represents a 17.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,681 shares of company stock worth $2,525,126 in the last three months. 0.15% of the stock is owned by company 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.