Lion Street Advisors LLC Boosts Position in Adobe Inc. (NASDAQ:ADBE)

Lion Street Advisors LLC lifted its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 20.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 520 shares of the software company’s stock after acquiring an additional 88 shares during the quarter. Lion Street Advisors LLC’s holdings in Adobe were worth $231,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Country Club Bank lifted its holdings in Adobe by 5.5% in the fourth quarter. Country Club Bank now owns 3,298 shares of the software company’s stock worth $1,470,000 after buying an additional 171 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Adobe by 3.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 141,275 shares of the software company’s stock valued at $63,061,000 after purchasing an additional 4,846 shares during the period. Jericho Financial LLP bought a new stake in shares of Adobe during the fourth quarter valued at approximately $376,000. Lockheed Martin Investment Management Co. grew its stake in Adobe by 13.4% in the fourth quarter. Lockheed Martin Investment Management Co. now owns 19,350 shares of the software company’s stock worth $8,605,000 after purchasing an additional 2,290 shares during the period. Finally, Weaver Capital Management LLC raised its holdings in Adobe by 7.0% in the fourth quarter. Weaver Capital Management LLC now owns 4,938 shares of the software company’s stock worth $2,196,000 after purchasing an additional 324 shares in the last quarter. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Adobe Price Performance

Shares of NASDAQ ADBE opened at $437.63 on Thursday. The firm’s 50 day simple moving average is $458.66 and its 200-day simple moving average is $501.38. The stock has a market capitalization of $190.50 billion, a price-to-earnings ratio of 35.29, a PEG ratio of 2.12 and a beta of 1.31. Adobe Inc. has a 12 month low of $403.75 and a 12 month high of $628.07. 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 released its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share for the quarter, topping the consensus estimate of $4.67 by $0.14. The firm 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 company’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.52 EPS. Analysts expect that Adobe Inc. will post 16.65 EPS for the current year.

Insider Buying and Selling

In other Adobe news, CAO Jillian Forusz sold 334 shares of the firm’s stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $435.83, for a total transaction of $145,567.22. Following the sale, the chief accounting officer now owns 2,685 shares of the company’s stock, valued at approximately $1,170,203.55. This trade represents a 11.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Scott Belsky sold 922 shares of Adobe stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $437.28, for a total value of $403,172.16. Following the transaction, the executive vice president now directly owns 22,153 shares in the company, valued at approximately $9,687,063.84. This trade represents a 4.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,681 shares of company stock valued at $2,525,126. 0.15% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Mizuho dropped their target price on shares of Adobe from $640.00 to $620.00 and set an “outperform” rating on the stock in a report on Thursday, December 12th. Oppenheimer cut their price objective on shares of Adobe from $625.00 to $600.00 and set an “outperform” rating on the stock in a report on Thursday, December 12th. Bank of America decreased their target price on shares of Adobe from $640.00 to $605.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. DA Davidson dropped their price target on Adobe from $685.00 to $625.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Finally, Citigroup reduced their price objective on Adobe from $616.00 to $590.00 and set a “neutral” rating for the company in a research report on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Adobe has an average rating of “Moderate Buy” and a consensus target price of $573.00.

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.