Annex Advisory Services LLC boosted its position in Adobe Inc. (NASDAQ:ADBE – Get Rating) by 14.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,573 shares of the software company’s stock after purchasing an additional 3,171 shares during the period. Annex Advisory Services LLC’s holdings in Adobe were worth $8,270,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Arcus Capital Partners LLC acquired a new stake in shares of Adobe during the 4th quarter valued at $26,000. Financial Enhancement Group LLC boosted its position in shares of Adobe by 338.1% in the 3rd quarter. Financial Enhancement Group LLC now owns 92 shares of the software company’s stock valued at $25,000 after purchasing an additional 71 shares during the period. TD Capital Management LLC acquired a new stake in Adobe during the 3rd quarter worth about $28,000. First Financial Corp IN lifted its stake in Adobe by 52.1% during the fourth quarter. First Financial Corp IN now owns 108 shares of the software company’s stock valued at $36,000 after buying an additional 37 shares in the last quarter. Finally, Pacifica Partners Inc. boosted its holdings in shares of Adobe by 1,111.1% in the fourth quarter. Pacifica Partners Inc. now owns 109 shares of the software company’s stock worth $37,000 after buying an additional 100 shares during the period. 79.36% of the stock is owned by institutional investors.
Insider Activity
In related news, Director John E. Warnock sold 3,000 shares of the stock in a transaction dated Thursday, January 12th. The shares were sold at an average price of $341.91, for a total value of $1,025,730.00. Following the completion of the transaction, the director now owns 380,465 shares of the company’s stock, valued at $130,084,788.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Adobe news, Director John E. Warnock sold 3,000 shares of the company’s stock in a transaction on Thursday, January 12th. The stock was sold at an average price of $341.91, for a total value of $1,025,730.00. Following the sale, the director now directly owns 380,465 shares in the company, valued at $130,084,788.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Mark S. Garfield sold 132 shares of Adobe stock in a transaction on Friday, March 17th. The shares were sold at an average price of $354.78, for a total value of $46,830.96. Following the transaction, the chief accounting officer now directly owns 3,610 shares of the company’s stock, valued at $1,280,755.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,747 shares of company stock worth $7,915,709. Corporate insiders own 0.24% of the company’s stock.
Adobe Stock Performance
ADBE stock traded down $1.42 during trading on Friday, reaching $380.60. 1,836,025 shares of the stock were exchanged, compared to its average volume of 3,532,559. Adobe Inc. has a twelve month low of $274.73 and a twelve month high of $455.92. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $174.54 billion, a P/E ratio of 37.50, a price-to-earnings-growth ratio of 2.32 and a beta of 1.31. The stock has a 50 day simple moving average of $360.87 and a 200-day simple moving average of $336.03.
Adobe (NASDAQ:ADBE – Get Rating) last announced its quarterly earnings data on Wednesday, March 15th. The software company reported $3.80 earnings per share for the quarter, topping the consensus estimate of $3.68 by $0.12. The company had revenue of $4.66 billion for the quarter, compared to analyst estimates of $4.62 billion. Adobe had a return on equity of 36.53% and a net margin of 26.32%. Adobe’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter last year, the firm earned $2.84 EPS. As a group, sell-side analysts anticipate that Adobe Inc. will post 12.26 earnings per share for the current year.
Analysts Set New Price Targets
A number of research firms recently commented on ADBE. Morgan Stanley raised their price objective on shares of Adobe from $382.00 to $385.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 16th. Barclays lifted their price target on Adobe from $340.00 to $385.00 in a report on Thursday, March 16th. Wolfe Research reduced their price objective on Adobe from $440.00 to $420.00 in a research note on Thursday, March 16th. JPMorgan Chase & Co. lifted their target price on Adobe from $365.00 to $380.00 and gave the company a “neutral” rating in a research note on Thursday, March 16th. Finally, Royal Bank of Canada increased their price target on shares of Adobe from $395.00 to $415.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 22nd. Sixteen analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $388.00.
About Adobe (Get Rating)
Adobe, Inc engages in the provision of digital marketing and media solutions. It operates through the following segments: Digital Media, Digital Experience, and Publishing and Advertising. The Digital Media segment offers creative cloud services, which allow members to download and install the latest versions of products, such as Adobe Photoshop, Adobe Illustrator, Adobe Premiere Pro, Adobe Photoshop Lightroom and Adobe InDesign, as well as utilize other tools, such as Adobe Acrobat.