OV Management LLC Has $2.25 Million Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

OV Management LLC increased its position in shares of Adobe Inc. (NASDAQ:ADBE) by 6.0% in the fourth quarter, HoldingsChannel reports. The firm owned 5,057 shares of the software company’s stock after purchasing an additional 285 shares during the period. Adobe makes up approximately 1.0% of OV Management LLC’s investment portfolio, making the stock its 21st biggest holding. OV Management LLC’s holdings in Adobe were worth $2,249,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the company. Nordea Investment Management AB raised its position in shares of Adobe by 2.0% during the fourth quarter. Nordea Investment Management AB now owns 1,712,616 shares of the software company’s stock worth $765,094,000 after acquiring an additional 33,414 shares during the last quarter. Arizona State Retirement System boosted its stake in shares of Adobe by 0.4% in the 4th quarter. Arizona State Retirement System now owns 127,696 shares of the software company’s stock valued at $56,784,000 after purchasing an additional 570 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its stake in shares of Adobe by 201.0% during the third quarter. Jacobs Levy Equity Management Inc. now owns 117,383 shares of the software company’s stock worth $60,779,000 after buying an additional 78,384 shares during the last quarter. Morse Asset Management Inc lifted its holdings in Adobe by 33.0% in the third quarter. Morse Asset Management Inc now owns 8,519 shares of the software company’s stock valued at $4,411,000 after buying an additional 2,113 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in Adobe by 1.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 99,150 shares of the software company’s stock valued at $44,090,000 after acquiring an additional 1,326 shares during the last quarter. 81.79% of the stock is owned by institutional investors.

Adobe Stock Down 0.6 %

Shares of ADBE stock opened at $383.53 on Tuesday. The firm’s fifty day moving average price is $430.88 and its two-hundred day moving average price is $467.49. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29. Adobe Inc. has a 1 year low of $374.50 and a 1 year high of $587.75. The firm has a market capitalization of $163.46 billion, a P/E ratio of 30.93, a PEG ratio of 2.15 and a beta of 1.37.

Adobe (NASDAQ:ADBE) last released its earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.97 by $0.11. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The business had revenue of $5.71 billion for the quarter, compared to the consensus estimate of $5.66 billion. During the same quarter in the previous year, the business earned $4.48 earnings per share. On average, equities analysts predict that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Insider Transactions at Adobe

In other Adobe news, CAO Jillian Forusz sold 334 shares of the company’s stock in a transaction 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 directly owns 2,685 shares of the company’s stock, valued at approximately $1,170,203.55. This represents a 11.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Scott Belsky sold 3,819 shares of Adobe stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $430.24, for a total transaction of $1,643,086.56. Following the completion of the transaction, the executive vice president now directly owns 18,334 shares of the company’s stock, valued at approximately $7,888,020.16. This trade represents a 17.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,075 shares of company stock worth $2,191,826 in the last 90 days. Corporate insiders own 0.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on ADBE. Mizuho dropped their target price on shares of Adobe from $620.00 to $575.00 and set an “outperform” rating for the company in a research report on Thursday, March 13th. StockNews.com lowered Adobe from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 4th. Oppenheimer decreased their target price on Adobe from $560.00 to $530.00 and set an “outperform” rating for the company in a research report on Thursday, March 13th. TD Cowen downgraded shares of Adobe from a “buy” rating to a “hold” rating and cut their price target for the company from $625.00 to $550.00 in a research report on Thursday, December 12th. Finally, Robert W. Baird reduced their price objective on shares of Adobe from $490.00 to $410.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 19th. Eleven research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $531.54.

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.