Exchange Capital Management Inc. Has $4.16 Million Stake in Adobe Inc. (NASDAQ:ADBE)

Exchange Capital Management Inc. boosted its stake in Adobe Inc. (NASDAQ:ADBE) by 0.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 9,357 shares of the software company’s stock after buying an additional 42 shares during the period. Exchange Capital Management Inc.’s holdings in Adobe were worth $4,161,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Keeler Thomas Management LLC increased its position in shares of Adobe by 2.7% during the fourth quarter. Keeler Thomas Management LLC now owns 6,982 shares of the software company’s stock worth $3,106,000 after buying an additional 181 shares during the period. Hendley & Co. Inc. raised its holdings in shares of Adobe by 30.6% in the fourth quarter. Hendley & Co. Inc. now owns 11,678 shares of the software company’s stock valued at $5,193,000 after purchasing an additional 2,737 shares during the last quarter. Trifecta Capital Advisors LLC increased its holdings in Adobe by 4.3% during the fourth quarter. Trifecta Capital Advisors LLC now owns 9,368 shares of the software company’s stock worth $4,166,000 after buying an additional 385 shares during the last quarter. Pine Valley Investments Ltd Liability Co increased its holdings in Adobe by 5.8% during the fourth quarter. Pine Valley Investments Ltd Liability Co now owns 26,895 shares of the software company’s stock worth $11,960,000 after buying an additional 1,463 shares during the last quarter. Finally, Impax Asset Management Group plc increased its stake in shares of Adobe by 54.6% in the fourth quarter. Impax Asset Management Group plc now owns 2,189 shares of the software company’s stock worth $973,000 after purchasing an additional 773 shares in the last quarter. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Adobe Price Performance

Shares of NASDAQ:ADBE opened at $444.42 on Tuesday. The company has a market capitalization of $193.46 billion, a PE ratio of 35.84, a price-to-earnings-growth ratio of 2.15 and a beta of 1.31. The stock has a fifty day moving average of $440.12 and a 200-day moving average of $493.28. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07. Adobe Inc. has a one year low of $403.75 and a one year high of $587.75.

Adobe (NASDAQ:ADBE) last issued its quarterly 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 for the quarter, compared to the consensus estimate of $5.54 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The firm’s revenue was up 11.1% compared to the same quarter last year. During the same period last year, the business posted $3.52 earnings per share. As a group, equities analysts anticipate that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Redburn Atlantic assumed coverage on shares of Adobe in a research report on Wednesday, February 19th. They issued a “neutral” rating for the company. Mizuho dropped their target price on shares of Adobe from $640.00 to $620.00 and set an “outperform” rating for the company in a research report on Thursday, December 12th. Barclays dropped their target price on shares of Adobe from $675.00 to $645.00 and set an “overweight” rating for the company in a research report on Thursday, December 12th. BNP Paribas upgraded shares of Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 target price for the company in a research report on Wednesday, January 15th. Finally, TD Cowen lowered shares of Adobe from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $625.00 to $550.00 in a report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Adobe has an average rating of “Moderate Buy” and an average price target of $570.88.

Insider Transactions at Adobe

In other Adobe 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 sale, the director now owns 32,929 shares in the company, valued at $18,110,950. This represents a 1.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Scott Belsky sold 3,819 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $430.24, for a total value of $1,643,086.56. Following the sale, the executive vice president now owns 18,334 shares of the company’s stock, valued at approximately $7,888,020.16. This represents a 17.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,681 shares of company stock valued at $2,525,126 in the last three months. 0.15% of the stock is owned by corporate insiders.

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.