Adobe Inc. (NASDAQ:ADBE) Shares Acquired by Harbour Investments Inc.

Harbour Investments Inc. lifted its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 1.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,457 shares of the software company’s stock after purchasing an additional 60 shares during the quarter. Harbour Investments Inc.’s holdings in Adobe were worth $1,537,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. State Street Corp increased its stake in shares of Adobe by 1.2% during the third quarter. State Street Corp now owns 20,270,287 shares of the software company’s stock worth $10,495,544,000 after buying an additional 234,909 shares during the period. Geode Capital Management LLC increased its stake in shares of Adobe by 1.4% during the third quarter. Geode Capital Management LLC now owns 10,529,089 shares of the software company’s stock worth $5,435,377,000 after buying an additional 147,981 shares during the period. FMR LLC increased its stake in shares of Adobe by 8.8% during the third quarter. FMR LLC now owns 9,690,163 shares of the software company’s stock worth $5,017,373,000 after buying an additional 787,356 shares during the period. Fisher Asset Management LLC increased its stake in shares of Adobe by 2.0% during the third quarter. Fisher Asset Management LLC now owns 4,859,584 shares of the software company’s stock worth $2,516,196,000 after buying an additional 93,143 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Adobe by 3.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,741,549 shares of the software company’s stock worth $2,455,079,000 after buying an additional 140,390 shares during the period. Institutional investors and hedge funds own 81.79% of the company’s stock.

Insider Buying and Selling at Adobe

In other Adobe news, Director David A. Ricks bought 2,250 shares of Adobe stock in a transaction on Tuesday, January 28th. The stock was bought at an average price of $443.98 per share, with a total value of $998,955.00. Following the completion of the acquisition, the director now owns 4,984 shares in the company, valued at $2,212,796.32. The trade was a 82.30 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Scott Belsky sold 922 shares of the firm’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $437.28, for a total value of $403,172.16. Following the completion of the sale, the executive vice president now directly owns 22,153 shares of the company’s stock, 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. Over the last quarter, insiders sold 5,075 shares of company stock valued at $2,191,826. 0.16% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on ADBE shares. TD Cowen lowered shares of Adobe from a “buy” rating to a “hold” rating and cut their target price for the stock from $625.00 to $550.00 in a research note on Thursday, December 12th. Citigroup dropped their price target on shares of Adobe from $551.00 to $490.00 and set a “neutral” rating on the stock in a research note on Monday, March 10th. Royal Bank of Canada dropped their price target on shares of Adobe from $550.00 to $530.00 and set an “outperform” rating on the stock in a research note on Thursday, March 13th. Mizuho dropped their price target on shares of Adobe from $620.00 to $575.00 and set an “outperform” rating on the stock in a research note on Thursday, March 13th. Finally, JMP Securities reiterated a “market perform” rating on shares of Adobe in a research note on Thursday, December 12th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $542.00.

Adobe Price Performance

Shares of NASDAQ ADBE opened at $391.37 on Wednesday. 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 stock has a fifty day moving average price of $435.77 and a 200 day moving average price of $479.02. Adobe Inc. has a 1-year low of $374.50 and a 1-year high of $587.75. The company has a market cap of $170.40 billion, a PE ratio of 31.56, a P/E/G 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 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 company had revenue of $5.71 billion during the quarter, compared to the consensus estimate of $5.66 billion. During the same quarter last year, the company earned $4.48 earnings per share. Sell-side analysts forecast that Adobe Inc. will post 16.65 EPS for the current year.

Adobe 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.