Hillsdale Investment Management Inc. Boosts Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

Hillsdale Investment Management Inc. grew its position in Adobe Inc. (NASDAQ:ADBE) by 34.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,718 shares of the software company’s stock after acquiring an additional 960 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Adobe were worth $1,653,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Sfmg LLC boosted its stake in Adobe by 1,432.7% during the 4th quarter. Sfmg LLC now owns 11,250 shares of the software company’s stock worth $5,003,000 after purchasing an additional 10,516 shares during the last quarter. Intellus Advisors LLC purchased a new position in shares of Adobe in the fourth quarter worth about $799,000. American Century Companies Inc. boosted its position in Adobe by 16.6% during the fourth quarter. American Century Companies Inc. now owns 449,889 shares of the software company’s stock worth $200,057,000 after acquiring an additional 63,991 shares during the last quarter. Geo Capital Gestora de Recursos Ltd grew its stake in Adobe by 477.5% during the 4th quarter. Geo Capital Gestora de Recursos Ltd now owns 4,857 shares of the software company’s stock valued at $2,160,000 after acquiring an additional 4,016 shares in the last quarter. Finally, Mizuho Securities USA LLC raised its holdings in Adobe by 45.1% in the 4th quarter. Mizuho Securities USA LLC now owns 41,721 shares of the software company’s stock valued at $18,552,000 after acquiring an additional 12,969 shares during the last quarter. 81.79% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on ADBE shares. Citigroup dropped their price target on Adobe from $551.00 to $490.00 and set a “neutral” rating for the company in a research report on Monday, March 10th. Stifel Nicolaus cut their target price on Adobe from $600.00 to $525.00 and set a “buy” rating for the company in a research note on Thursday, March 13th. Barclays reduced their price target on Adobe from $675.00 to $645.00 and set an “overweight” rating on the stock in a report on Thursday, December 12th. UBS Group set a $495.00 price objective on shares of Adobe in a report on Thursday, March 13th. Finally, Evercore ISI decreased their target price on shares of Adobe from $650.00 to $550.00 and set an “outperform” rating on the stock in a report on Thursday, March 13th. Eleven analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Adobe presently has an average rating of “Moderate Buy” and a consensus price target of $538.80.

Insiders Place Their Bets

In other news, CFO Daniel Durn purchased 1,300 shares of the stock in a transaction on Thursday, March 20th. The stock was bought at an average price of $390.58 per share, for a total transaction of $507,754.00. Following the acquisition, the chief financial officer now directly owns 29,876 shares of the company’s stock, valued at approximately $11,668,968.08. The trade was a 4.55 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Jillian Forusz sold 334 shares of the firm’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 completion of the sale, the chief accounting officer now owns 2,685 shares in the company, valued at $1,170,203.55. The trade was a 11.06 % decrease in their ownership of the stock. 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 quarter. 0.16% of the stock is owned by company insiders.

Adobe Trading Down 0.6 %

Shares of ADBE stock opened at $387.26 on Friday. The stock has a market capitalization of $168.62 billion, a P/E ratio of 31.23, a price-to-earnings-growth ratio of 2.15 and a beta of 1.37. Adobe Inc. has a fifty-two week low of $374.50 and a fifty-two week high of $587.75. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07. The company has a 50 day moving average price of $434.16 and a 200 day moving average price of $475.80.

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

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.