Janney Montgomery Scott LLC Has $41.55 Million Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

Janney Montgomery Scott LLC lowered its position in Adobe Inc. (NASDAQ:ADBE) by 4.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 93,438 shares of the software company’s stock after selling 3,878 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Adobe were worth $41,550,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the business. Piscataqua Savings Bank lifted its holdings in shares of Adobe by 226.7% during the third quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock worth $25,000 after purchasing an additional 34 shares during the period. Legacy Investment Solutions LLC acquired a new position in Adobe during the 3rd quarter worth about $26,000. Groupama Asset Managment grew its position in shares of Adobe by 28.8% in the 3rd quarter. Groupama Asset Managment now owns 51,482 shares of the software company’s stock valued at $27,000 after buying an additional 11,522 shares during the last quarter. MidAtlantic Capital Management Inc. acquired a new stake in shares of Adobe in the third quarter valued at about $30,000. Finally, True Wealth Design LLC raised its position in shares of Adobe by 141.7% during the third quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock worth $30,000 after acquiring an additional 34 shares during the last quarter. Institutional investors own 81.79% of the company’s stock.

Insider Buying and Selling

In related news, Director Amy Banse sold 606 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $550.00, for a total value of $333,300.00. Following the transaction, the director now owns 32,929 shares in the company, valued at approximately $18,110,950. This represents a 1.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Jillian Forusz sold 676 shares of the firm’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $484.97, for a total value of $327,839.72. Following the completion of the sale, the chief accounting officer now directly owns 2,715 shares of the company’s stock, valued at $1,316,693.55. This represents a 19.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.15% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. StockNews.com downgraded shares of Adobe from a “strong-buy” rating to a “buy” rating in a research report on Monday. UBS Group decreased their price objective on shares of Adobe from $525.00 to $475.00 and set a “neutral” rating for the company in a research report on Friday, January 3rd. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $475.00 target price (down previously from $600.00) on shares of Adobe in a report on Wednesday, January 8th. Jefferies Financial Group decreased their price target on Adobe from $700.00 to $650.00 and set a “buy” rating for the company in a report on Thursday, December 12th. Finally, Stifel Nicolaus cut their target price on Adobe from $650.00 to $600.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Adobe currently has a consensus rating of “Moderate Buy” and an average target price of $573.00.

Adobe Stock Down 0.0 %

Adobe stock opened at $437.28 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07. The stock has a market cap of $190.35 billion, a PE ratio of 35.26, a price-to-earnings-growth ratio of 2.11 and a beta of 1.31. Adobe Inc. has a fifty-two week low of $403.75 and a fifty-two week high of $638.25. The firm’s 50-day simple moving average is $471.36 and its 200 day simple moving average is $509.54.

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