Adobe Inc. (NASDAQ:ADBE) is Applied Finance Capital Management LLC’s 10th Largest Position

Applied Finance Capital Management LLC grew its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 3.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 120,970 shares of the software company’s stock after buying an additional 3,959 shares during the quarter. Adobe accounts for 2.3% of Applied Finance Capital Management LLC’s portfolio, making the stock its 10th largest position. Applied Finance Capital Management LLC’s holdings in Adobe were worth $53,793,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Legacy Investment Solutions LLC acquired a new stake in shares of Adobe during the third quarter valued at about $26,000. Groupama Asset Managment boosted its holdings in Adobe by 28.8% in the third quarter. Groupama Asset Managment now owns 51,482 shares of the software company’s stock worth $27,000 after purchasing an additional 11,522 shares during the period. Decker Retirement Planning Inc. acquired a new position in Adobe in the fourth quarter valued at approximately $31,000. Summit Securities Group LLC acquired a new stake in Adobe in the fourth quarter worth $31,000. Finally, Caitlin John LLC raised its holdings in shares of Adobe by 171.4% during the fourth quarter. Caitlin John LLC now owns 76 shares of the software company’s stock valued at $34,000 after buying an additional 48 shares during the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ADBE. Sanford C. Bernstein decreased their target price on shares of Adobe from $644.00 to $587.00 and set an “outperform” rating for the company in a research report on Thursday, December 12th. Barclays cut their target price on Adobe from $675.00 to $645.00 and set an “overweight” rating for the company in a research report on Thursday, December 12th. Redburn Atlantic initiated coverage on Adobe in a research report on Wednesday, February 19th. They set a “neutral” rating on the stock. Stifel Nicolaus lowered their target price on Adobe from $600.00 to $525.00 and set a “buy” rating on the stock in a report on Thursday, March 13th. Finally, JPMorgan Chase & Co. decreased their target price on Adobe from $580.00 to $540.00 and set an “overweight” 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 given a strong buy rating to the stock. Based on data from MarketBeat, Adobe presently has an average rating of “Moderate Buy” and a consensus target price of $531.54.

Adobe Stock Down 2.4 %

NASDAQ:ADBE opened at $340.70 on Tuesday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29. Adobe Inc. has a 12-month low of $332.01 and a 12-month high of $587.75. The stock’s fifty day simple moving average is $423.70 and its 200-day simple moving average is $461.98. The firm has a market capitalization of $145.21 billion, a P/E ratio of 27.48, a P/E/G ratio of 2.15 and a beta of 1.49.

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

Insider Transactions at Adobe

In other news, CAO Jillian Forusz sold 334 shares of the business’s stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $435.83, for a total value of $145,567.22. Following the sale, the chief accounting officer now owns 2,685 shares of the company’s stock, valued at $1,170,203.55. The trade was a 11.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Scott Belsky sold 3,819 shares of the firm’s stock in a transaction on 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 sold 5,075 shares of company stock valued at $2,191,826 over the last three months. Company insiders own 0.16% of the company’s stock.

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.