Horizon Bancorp Inc. IN Has $197,000 Stock Position in Adobe Inc. (NASDAQ:ADBE)

Horizon Bancorp Inc. IN trimmed its stake in Adobe Inc. (NASDAQ:ADBE) by 8.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 442 shares of the software company’s stock after selling 40 shares during the quarter. Horizon Bancorp Inc. IN’s holdings in Adobe were worth $197,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Nordea Investment Management AB raised its holdings in shares of Adobe by 2.0% during the 4th quarter. Nordea Investment Management AB now owns 1,712,616 shares of the software company’s stock valued at $765,094,000 after buying an additional 33,414 shares in the last quarter. Public Sector Pension Investment Board increased its stake in shares of Adobe by 12.2% during the third quarter. Public Sector Pension Investment Board now owns 19,322 shares of the software company’s stock valued at $10,005,000 after purchasing an additional 2,100 shares in the last quarter. GAMMA Investing LLC lifted its position in Adobe by 28.0% in the 3rd quarter. GAMMA Investing LLC now owns 6,458 shares of the software company’s stock valued at $3,344,000 after acquiring an additional 1,412 shares in the last quarter. Jacobs Levy Equity Management Inc. increased 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 purchasing an additional 78,384 shares during the last quarter. Finally, Morse Asset Management Inc increased its stake in shares of Adobe by 33.0% in the third quarter. Morse Asset Management Inc now owns 8,519 shares of the software company’s stock worth $4,411,000 after purchasing an additional 2,113 shares in the last quarter. Institutional investors own 81.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. DA Davidson decreased their target price 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. Bank of America cut their price objective on shares of Adobe from $640.00 to $605.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. StockNews.com raised shares of Adobe from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 18th. UBS Group cut their price objective on Adobe from $525.00 to $475.00 and set a “neutral” rating on the stock in a research report on Friday, January 3rd. Finally, Argus upgraded shares of Adobe to a “strong-buy” rating in a report on Monday, September 16th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Adobe presently has an average rating of “Moderate Buy” and a consensus price target of $575.85.

Adobe Stock Performance

Shares of ADBE stock opened at $408.50 on Tuesday. The firm has a market cap of $179.82 billion, a P/E ratio of 32.94, a P/E/G ratio of 2.51 and a beta of 1.31. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.11 and a current ratio of 1.11. Adobe Inc. has a one year low of $403.75 and a one year high of $638.25. The firm’s 50 day moving average price is $482.55 and its 200-day moving average price is $516.02.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 earnings per share for the quarter, beating analysts’ consensus estimates of $4.67 by $0.14. The firm had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.54 billion. Adobe had a net margin of 25.85% and a return on equity of 45.22%. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.52 earnings per share. As a group, equities research analysts predict that Adobe Inc. will post 16.73 EPS for the current year.

Insider Activity

In other Adobe news, EVP Scott Belsky sold 481 shares of the business’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $483.42, for a total value of $232,525.02. Following the transaction, the executive vice president now directly owns 18,128 shares of the company’s stock, valued at approximately $8,763,437.76. The trade was a 2.58 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Amy Banse sold 606 shares of the 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 transaction, the director now directly owns 32,929 shares of the company’s stock, valued at $18,110,950. This represents a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,763 shares of company stock worth $893,665. 0.15% of the stock is currently owned by 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.