Adobe Inc. (NASDAQ:ADBE) Stock Holdings Raised by Capital Investment Advisory Services LLC

Capital Investment Advisory Services LLC raised its stake in Adobe Inc. (NASDAQ:ADBE) by 9.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 2,004 shares of the software company’s stock after purchasing an additional 178 shares during the period. Capital Investment Advisory Services LLC’s holdings in Adobe were worth $891,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of ADBE. State Street Corp raised its stake in Adobe by 1.2% during the third quarter. State Street Corp now owns 20,270,287 shares of the software company’s stock worth $10,495,544,000 after acquiring an additional 234,909 shares during the period. Geode Capital Management LLC raised its stake in Adobe by 1.4% during the third quarter. Geode Capital Management LLC now owns 10,529,089 shares of the software company’s stock worth $5,435,377,000 after acquiring an additional 147,981 shares during the period. FMR LLC raised its stake in Adobe by 8.8% during the third quarter. FMR LLC now owns 9,690,163 shares of the software company’s stock worth $5,017,373,000 after acquiring an additional 787,356 shares during the period. Fisher Asset Management LLC raised its stake 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 worth $2,516,196,000 after acquiring an additional 93,143 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake 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 worth $2,455,079,000 after acquiring an additional 140,390 shares during the period. 81.79% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Adobe

In other Adobe news, EVP Scott Belsky sold 922 shares of the stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $437.28, for a total value of $403,172.16. Following the completion of the sale, the executive vice president now owns 22,153 shares in the company, valued at $9,687,063.84. This represents a 4.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Amy Banse sold 606 shares of the stock in a transaction that occurred on 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 sale, the director now owns 32,929 shares of the company’s stock, valued at approximately $18,110,950. The trade was a 1.81 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,681 shares of company stock worth $2,525,126. 0.15% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on ADBE. Sanford C. Bernstein dropped their price objective on shares of Adobe from $644.00 to $587.00 and set an “outperform” rating on the stock in a research note on Thursday, December 12th. TD Cowen cut shares of Adobe from a “buy” rating to a “hold” rating and decreased their target price for the stock from $625.00 to $550.00 in a research report on Thursday, December 12th. Wells Fargo & Company decreased their target price on shares of Adobe from $700.00 to $640.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. StockNews.com upgraded shares of Adobe from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Finally, JMP Securities restated a “market perform” rating on shares of Adobe in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $573.00.

Adobe Stock Up 1.0 %

ADBE stock opened at $446.00 on Friday. Adobe Inc. has a 12 month low of $403.75 and a 12 month high of $638.25. The firm has a market cap of $194.14 billion, a PE ratio of 35.97, a P/E/G ratio of 2.12 and a beta of 1.31. The firm has a 50 day simple moving average of $464.63 and a 200 day simple moving average of $505.15. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07.

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