Winch Advisory Services LLC Boosts Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

Winch Advisory Services LLC lifted its stake in Adobe Inc. (NASDAQ:ADBE) by 2.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,215 shares of the software company’s stock after buying an additional 178 shares during the period. Adobe makes up approximately 0.7% of Winch Advisory Services LLC’s holdings, making the stock its 27th largest holding. Winch Advisory Services LLC’s holdings in Adobe were worth $2,764,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. International Assets Investment Management LLC increased its stake in Adobe by 66,909.7% in the 3rd quarter. International Assets Investment Management LLC now owns 1,378,390 shares of the software company’s stock worth $713,703,000 after purchasing an additional 1,376,333 shares during the period. Longview Partners Guernsey LTD bought a new stake in Adobe during the 2nd quarter valued at $663,745,000. FMR LLC grew its holdings in Adobe by 8.8% in the 3rd quarter. FMR LLC now owns 9,690,163 shares of the software company’s stock worth $5,017,373,000 after acquiring an additional 787,356 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its stake in shares of Adobe by 982.4% during the second quarter. Mercer Global Advisors Inc. ADV now owns 541,670 shares of the software company’s stock valued at $300,919,000 after acquiring an additional 491,627 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in shares of Adobe by 42.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,168,584 shares of the software company’s stock worth $519,646,000 after purchasing an additional 347,536 shares during the last quarter. Institutional investors own 81.79% of the company’s stock.

Wall Street Analysts Forecast Growth

ADBE has been the subject of a number of recent analyst reports. Wells Fargo & Company lowered their price target on Adobe from $700.00 to $640.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. DA Davidson decreased their target price on Adobe from $685.00 to $625.00 and set a “buy” rating for the company in a report on Thursday, December 12th. JMP Securities reiterated a “market perform” rating on shares of Adobe in a report on Thursday, December 12th. UBS Group dropped their target price on shares of Adobe from $525.00 to $475.00 and set a “neutral” rating for the company in a research report on Friday, January 3rd. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $475.00 price target (down previously from $600.00) on shares of Adobe in a research report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $573.00.

Insider Activity

In related news, Director Amy Banse sold 606 shares of Adobe stock in a transaction on Friday, December 6th. The stock was sold at an average price of $550.00, for a total value of $333,300.00. Following the completion of the sale, the director now owns 32,929 shares of the company’s stock, valued at $18,110,950. The trade was a 1.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Scott Belsky sold 481 shares of the stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $483.42, for a total value of $232,525.02. Following the completion of the transaction, the executive vice president now directly owns 18,128 shares in the company, valued at approximately $8,763,437.76. This represents a 2.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,763 shares of company stock valued at $893,665 in the last 90 days. 0.15% of the stock is currently owned by insiders.

Adobe Stock Performance

ADBE stock opened at $417.28 on Thursday. The stock has a market capitalization of $183.69 billion, a PE ratio of 33.65, a price-to-earnings-growth ratio of 2.51 and a beta of 1.31. The stock’s 50 day simple moving average is $481.07 and its 200 day simple moving average is $515.02. Adobe Inc. has a 12-month low of $403.75 and a 12-month high of $638.25. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.28.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.67 by $0.14. Adobe had a return on equity of 45.22% and a net margin of 25.85%. The firm had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $5.54 billion. During the same period in the prior year, the company posted $3.52 earnings per share. The company’s quarterly revenue was up 11.1% on a year-over-year basis. As a group, research analysts forecast that Adobe Inc. will post 16.73 earnings per share for the current fiscal 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.