Oppenheimer & Co. Inc. Buys 2,104 Shares of Adobe Inc. (NASDAQ:ADBE)

Oppenheimer & Co. Inc. boosted its holdings in Adobe Inc. (NASDAQ:ADBE) by 7.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 30,875 shares of the software company’s stock after acquiring an additional 2,104 shares during the period. Oppenheimer & Co. Inc.’s holdings in Adobe were worth $13,729,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. Kovack Advisors Inc. raised its stake in Adobe by 56.8% in the 4th quarter. Kovack Advisors Inc. now owns 3,342 shares of the software company’s stock valued at $1,486,000 after acquiring an additional 1,211 shares during the period. WT Wealth Management raised its stake in Adobe by 6.0% in the 4th quarter. WT Wealth Management now owns 4,955 shares of the software company’s stock valued at $2,203,000 after acquiring an additional 280 shares during the period. Mn Services Vermogensbeheer B.V. raised its stake in Adobe by 2.1% in the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 178,474 shares of the software company’s stock valued at $79,364,000 after acquiring an additional 3,600 shares during the period. Schnieders Capital Management LLC raised its stake in Adobe by 6.8% in the 4th quarter. Schnieders Capital Management LLC now owns 2,740 shares of the software company’s stock valued at $1,218,000 after acquiring an additional 175 shares during the period. Finally, Harfst & Associates Inc. grew its holdings in Adobe by 1.8% in the 4th quarter. Harfst & Associates Inc. now owns 7,665 shares of the software company’s stock valued at $3,408,000 after buying an additional 138 shares in the last quarter. Institutional investors own 81.79% of the company’s stock.

Adobe Price Performance

Shares of ADBE opened at $441.50 on Thursday. Adobe Inc. has a 1 year low of $403.75 and a 1 year high of $587.75. 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 company has a market capitalization of $192.18 billion, a price-to-earnings ratio of 35.60, a price-to-earnings-growth ratio of 2.15 and a beta of 1.31. The business has a 50-day moving average of $439.88 and a 200-day moving average of $492.27.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.67 by $0.14. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The company had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.54 billion. During the same period last year, the company earned $3.52 earnings per share. The firm’s revenue was up 11.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current year.

Insider Transactions at Adobe

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

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Jefferies Financial Group decreased their price objective on Adobe from $700.00 to $650.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Citigroup reduced their target price on Adobe from $616.00 to $590.00 and set a “neutral” rating on the stock in a report on Monday, December 9th. JMP Securities reissued a “market perform” rating on shares of Adobe in a report on Thursday, December 12th. Sanford C. Bernstein reduced their target price on Adobe from $644.00 to $587.00 and set an “outperform” rating on the stock in a report on Thursday, December 12th. Finally, Oppenheimer reduced their target price on Adobe from $625.00 to $600.00 and set an “outperform” rating on the stock in a report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Adobe currently has an average rating of “Moderate Buy” and an average target price of $570.88.

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.