AllSquare Wealth Management LLC Raises Holdings in Adobe Inc. (NASDAQ:ADBE)

AllSquare Wealth Management LLC grew its holdings in Adobe Inc. (NASDAQ:ADBE) by 145.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 316 shares of the software company’s stock after buying an additional 187 shares during the quarter. AllSquare Wealth Management LLC’s holdings in Adobe were worth $141,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. Douglass Winthrop Advisors LLC boosted its position in shares of Adobe by 11.3% during the 4th quarter. Douglass Winthrop Advisors LLC now owns 2,517 shares of the software company’s stock worth $1,119,000 after purchasing an additional 255 shares in the last quarter. Lingohr Asset Management GmbH acquired a new stake in shares of Adobe in the fourth quarter valued at about $339,000. iA Global Asset Management Inc. boosted its holdings in Adobe by 3.8% during the fourth quarter. iA Global Asset Management Inc. now owns 47,447 shares of the software company’s stock worth $21,099,000 after buying an additional 1,727 shares in the last quarter. Settian Capital LP grew its position in Adobe by 17.1% during the fourth quarter. Settian Capital LP now owns 8,200 shares of the software company’s stock worth $3,646,000 after buying an additional 1,200 shares during the period. Finally, Magnetar Financial LLC increased its holdings in Adobe by 29.5% in the fourth quarter. Magnetar Financial LLC now owns 729 shares of the software company’s stock valued at $324,000 after buying an additional 166 shares in the last quarter. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on ADBE shares. BNP Paribas upgraded Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 price target on the stock in a report on Wednesday, January 15th. JPMorgan Chase & Co. dropped their price target on Adobe from $580.00 to $540.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. DA Davidson decreased their price objective on shares of Adobe from $685.00 to $625.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Barclays dropped their target price on shares of Adobe from $675.00 to $645.00 and set an “overweight” rating for the company in a report on Thursday, December 12th. Finally, Robert W. Baird reduced their price target on shares of Adobe from $490.00 to $410.00 and set a “neutral” rating on the stock in a report on Wednesday. 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 issued a strong buy rating to the stock. According to MarketBeat.com, Adobe currently has a consensus rating of “Moderate Buy” and a consensus target price of $538.80.

Insider Activity

In other Adobe news, EVP Scott Belsky sold 3,819 shares of the firm’s stock in a transaction dated Monday, January 27th. The stock was 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 directly 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director David A. Ricks bought 2,250 shares of the firm’s stock in a transaction dated Tuesday, January 28th. The stock was bought at an average cost of $443.98 per share, with a total value of $998,955.00. Following the transaction, the director now directly owns 4,984 shares of the company’s stock, 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. In the last 90 days, insiders have sold 5,075 shares of company stock valued at $2,191,826. Company insiders own 0.16% of the company’s stock.

Adobe Price Performance

ADBE stock opened at $389.61 on Friday. The stock has a 50-day moving average price of $434.53 and a two-hundred day moving average price of $477.76. The company has a market cap of $169.64 billion, a PE ratio of 31.42, a price-to-earnings-growth ratio of 2.15 and a beta of 1.37. 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 12-month low of $374.50 and a 12-month high of $587.75.

Adobe (NASDAQ:ADBE) last posted its earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.97 by $0.11. The firm had revenue of $5.71 billion during the quarter, compared to the consensus estimate of $5.66 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. During the same quarter in the prior year, the company earned $4.48 EPS. As a group, research analysts predict that Adobe Inc. will post 16.65 EPS for the current year.

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.