Valley National Advisers Inc. Grows Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

Valley National Advisers Inc. increased its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 19.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 395 shares of the software company’s stock after acquiring an additional 65 shares during the period. Valley National Advisers Inc.’s holdings in Adobe were worth $175,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the company. Piscataqua Savings Bank raised its position in shares of Adobe by 226.7% in the third quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock worth $25,000 after acquiring an additional 34 shares during the period. Legacy Investment Solutions LLC acquired a new position in Adobe in the 3rd quarter worth about $26,000. Groupama Asset Managment boosted its position in Adobe by 28.8% during the third quarter. Groupama Asset Managment now owns 51,482 shares of the software company’s stock worth $27,000 after purchasing an additional 11,522 shares in the last quarter. MidAtlantic Capital Management Inc. acquired a new stake in Adobe in the third quarter valued at approximately $30,000. Finally, True Wealth Design LLC raised its stake in shares of Adobe by 141.7% during the 3rd quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock worth $30,000 after buying an additional 34 shares during the period. 81.79% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Amy Banse sold 606 shares of the firm’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $550.00, for a total value of $333,300.00. Following the sale, the director now directly owns 32,929 shares in the company, valued at approximately $18,110,950. This trade represents a 1.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Jillian Forusz sold 334 shares of the business’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total transaction of $145,567.22. Following the transaction, the chief accounting officer now owns 2,685 shares of the company’s stock, valued at approximately $1,170,203.55. The trade was a 11.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,681 shares of company stock worth $2,525,126 over the last 90 days. Corporate insiders own 0.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $475.00 price target (down previously from $600.00) on shares of Adobe in a research note on Wednesday, January 8th. StockNews.com upgraded shares of Adobe from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, January 28th. TD Cowen lowered Adobe from a “buy” rating to a “hold” rating and cut their price objective for the stock from $625.00 to $550.00 in a research note on Thursday, December 12th. 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. Finally, Wells Fargo & Company dropped their price target on Adobe from $700.00 to $640.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $573.00.

Adobe Stock Performance

Shares of Adobe stock opened at $437.45 on Monday. The stock has a market capitalization of $190.42 billion, a price-to-earnings ratio of 35.28, a price-to-earnings-growth ratio of 2.14 and a beta of 1.31. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. The business has a 50-day moving average of $461.97 and a 200 day moving average of $503.41. Adobe Inc. has a 12 month low of $403.75 and a 12 month high of $638.25.

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. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The firm had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.54 billion. During the same quarter in the previous year, the business posted $3.52 earnings per share. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current year.

Adobe Company 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.