Adobe Inc. (NASDAQ:ADBE) Stock Position Increased by Cohen & Steers Inc.

Cohen & Steers Inc. boosted its position in shares of Adobe Inc. (NASDAQ:ADBE) by 6.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 760 shares of the software company’s stock after buying an additional 47 shares during the quarter. Cohen & Steers Inc.’s holdings in Adobe were worth $338,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Decker Retirement Planning Inc. acquired a new stake in Adobe during the 4th quarter worth about $31,000. Summit Securities Group LLC acquired a new position in Adobe in the 4th quarter worth approximately $31,000. Caitlin John LLC grew its position in Adobe by 171.4% during the 4th quarter. Caitlin John LLC now owns 76 shares of the software company’s stock worth $34,000 after purchasing an additional 48 shares in the last quarter. Avion Wealth raised its stake in Adobe by 112.2% during the 4th quarter. Avion Wealth now owns 87 shares of the software company’s stock valued at $38,000 after purchasing an additional 46 shares during the period. Finally, Mascoma Wealth Management LLC raised its position in Adobe by 142.9% during the fourth quarter. Mascoma Wealth Management LLC now owns 85 shares of the software company’s stock valued at $38,000 after buying an additional 50 shares during the period. 81.79% of the stock is owned by institutional investors and hedge funds.

Adobe Trading Down 0.2 %

Shares of NASDAQ:ADBE opened at $350.38 on Wednesday. The stock has a market capitalization of $149.33 billion, a PE ratio of 28.26, a price-to-earnings-growth ratio of 2.15 and a beta of 1.49. The company’s 50-day moving average price is $409.57 and its two-hundred day moving average price is $453.41. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. Adobe Inc. has a one year low of $332.01 and a one year high of $587.75.

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

Analyst Ratings Changes

Several brokerages have weighed in on ADBE. Morgan Stanley dropped their target price on Adobe from $660.00 to $600.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. BNP Paribas raised shares of Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 target price for the company in a research report on Wednesday, January 15th. JPMorgan Chase & Co. reduced their price objective on shares of Adobe from $580.00 to $540.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Robert W. Baird decreased their price target on Adobe from $490.00 to $410.00 and set a “neutral” rating for the company in a research note on Wednesday, March 19th. Finally, UBS Group cut their price objective on Adobe from $410.00 to $380.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Eleven equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $518.46.

Insiders Place Their Bets

In other Adobe news, EVP Scott Belsky sold 3,819 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $430.24, for a total transaction of $1,643,086.56. Following the transaction, the executive vice president now owns 18,334 shares of the company’s stock, valued at $7,888,020.16. The trade was a 17.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David A. Ricks purchased 2,250 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The stock was acquired at an average price of $443.98 per share, for a total transaction of $998,955.00. Following the purchase, the director now owns 4,984 shares in the company, valued at $2,212,796.32. This trade represents a 82.30 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 5,075 shares of company stock valued at $2,191,826. 0.16% of the stock is currently owned by corporate insiders.

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.