Sage Capital Advisors llc Has $3.40 Million Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

Sage Capital Advisors llc boosted its holdings in shares of Adobe Inc. (NASDAQ:ADBEFree Report) by 0.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,698 shares of the software company’s stock after buying an additional 25 shares during the period. Sage Capital Advisors llc’s holdings in Adobe were worth $3,399,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Bath Savings Trust Co grew its position in Adobe by 7.9% during the fourth quarter. Bath Savings Trust Co now owns 2,621 shares of the software company’s stock valued at $1,564,000 after buying an additional 192 shares during the period. WBH Advisory Inc. bought a new position in Adobe during the fourth quarter worth about $225,000. IFP Advisors Inc boosted its position in Adobe by 21.6% during the fourth quarter. IFP Advisors Inc now owns 4,379 shares of the software company’s stock worth $2,611,000 after purchasing an additional 778 shares during the period. Beese Fulmer Investment Management Inc. boosted its position in Adobe by 0.4% during the fourth quarter. Beese Fulmer Investment Management Inc. now owns 18,253 shares of the software company’s stock worth $10,890,000 after purchasing an additional 81 shares during the period. Finally, Wedmont Private Capital boosted its position in Adobe by 10.9% during the fourth quarter. Wedmont Private Capital now owns 5,721 shares of the software company’s stock worth $3,321,000 after purchasing an additional 561 shares during the period. Hedge funds and other institutional investors own 80.00% of the company’s stock.

Insider Transactions at Adobe

In other news, CAO Mark S. Garfield sold 788 shares of Adobe stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $615.42, for a total transaction of $484,950.96. Following the completion of the sale, the chief accounting officer now directly owns 4,055 shares in the company, valued at $2,495,528.10. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CAO Mark S. Garfield sold 788 shares of the firm’s stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $615.42, for a total transaction of $484,950.96. Following the transaction, the chief accounting officer now owns 4,055 shares in the company, valued at $2,495,528.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Mark S. Garfield sold 84 shares of the firm’s stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $591.99, for a total value of $49,727.16. Following the transaction, the chief accounting officer now owns 4,055 shares in the company, valued at approximately $2,400,519.45. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 44,425 shares of company stock worth $26,431,673. 0.15% of the stock is currently owned by insiders.

Adobe Trading Down 13.7 %

ADBE stock opened at $492.46 on Friday. The firm has a fifty day moving average price of $584.71 and a 200 day moving average price of $573.86. Adobe Inc. has a fifty-two week low of $331.89 and a fifty-two week high of $638.25. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.34 and a current ratio of 1.34. The firm has a market cap of $222.86 billion, a PE ratio of 47.08, a price-to-earnings-growth ratio of 3.04 and a beta of 1.29.

Adobe (NASDAQ:ADBEGet Free Report) last issued its quarterly earnings results on Thursday, March 14th. The software company reported $4.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.38 by $0.10. The company had revenue of $5.18 billion during the quarter, compared to the consensus estimate of $5.14 billion. Adobe had a return on equity of 38.30% and a net margin of 27.97%. Adobe’s revenue was up 11.3% on a year-over-year basis. During the same period last year, the company earned $2.97 earnings per share. Sell-side analysts anticipate that Adobe Inc. will post 14.46 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Piper Sandler Companies cut their target price on shares of Adobe from $705.00 to $700.00 and set an “overweight” rating for the company in a research report on Friday. Barclays upgraded shares of Adobe from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $680.00 to $700.00 in a research report on Monday, December 18th. Piper Sandler raised their target price on shares of Adobe from $650.00 to $705.00 and gave the company an “overweight” rating in a research note on Tuesday, January 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $615.00 target price on shares of Adobe in a research note on Thursday, December 14th. Finally, BNP Paribas downgraded shares of Adobe from a “neutral” rating to an “underperform” rating and set a $499.00 target price on the stock. in a research note on Thursday, January 18th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $616.52.

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Adobe Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Adobe (NASDAQ:ADBE)

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