Certuity LLC Raises Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

Certuity LLC lifted its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 25.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 4,467 shares of the software company’s stock after purchasing an additional 902 shares during the quarter. Certuity LLC’s holdings in Adobe were worth $1,986,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Community Financial Services Group LLC lifted its position in Adobe by 4.7% during the 4th quarter. Community Financial Services Group LLC now owns 11,948 shares of the software company’s stock worth $5,313,000 after acquiring an additional 535 shares during the period. Signet Investment Advisory Group Inc. raised its stake in shares of Adobe by 3.5% during the fourth quarter. Signet Investment Advisory Group Inc. now owns 8,659 shares of the software company’s stock worth $3,850,000 after purchasing an additional 296 shares during the last quarter. TCV Trust & Wealth Management Inc. lifted its holdings in shares of Adobe by 3.1% during the fourth quarter. TCV Trust & Wealth Management Inc. now owns 28,720 shares of the software company’s stock worth $12,771,000 after purchasing an additional 868 shares during the period. Sather Financial Group Inc increased its stake in Adobe by 2.4% in the 4th quarter. Sather Financial Group Inc now owns 107,830 shares of the software company’s stock valued at $47,950,000 after buying an additional 2,532 shares during the period. Finally, Warther Private Wealth LLC raised its position in Adobe by 318.9% during the 4th quarter. Warther Private Wealth LLC now owns 3,540 shares of the software company’s stock worth $1,574,000 after buying an additional 2,695 shares during the last quarter. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director David A. Ricks bought 2,250 shares of Adobe stock in a transaction that occurred on Tuesday, January 28th. The shares were purchased at an average price of $443.98 per share, for a total transaction of $998,955.00. Following the completion of the acquisition, the director now owns 4,984 shares of the company’s stock, valued at $2,212,796.32. The trade was a 82.30 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Amy Banse sold 606 shares of the company’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $550.00, for a total value of $333,300.00. Following the sale, the director now owns 32,929 shares of the company’s stock, valued at $18,110,950. This represents a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,681 shares of company stock valued at $2,525,126. Insiders own 0.15% of the company’s stock.

Adobe Stock Up 1.7 %

ADBE stock opened at $458.82 on Wednesday. The company has a 50 day moving average price of $452.62 and a two-hundred day moving average price of $498.52. 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 stock has a market capitalization of $199.72 billion, a P/E ratio of 37.00, a PEG ratio of 2.11 and a beta of 1.31. Adobe Inc. has a one year low of $403.75 and a one year high of $626.34.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, beating analysts’ consensus estimates of $4.67 by $0.14. The business had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.54 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.52 earnings per share. As a group, sell-side analysts expect that Adobe Inc. will post 16.65 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ADBE. Stifel Nicolaus lowered their target price on shares of Adobe from $650.00 to $600.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Citigroup dropped their target price on Adobe from $616.00 to $590.00 and set a “neutral” rating on the stock in a research report on Monday, December 9th. Bank of America reduced their price target on Adobe from $640.00 to $605.00 and set a “buy” rating for the company in a report on Thursday, December 12th. Oppenheimer cut their price objective on Adobe from $625.00 to $600.00 and set an “outperform” rating for the company in a research report on Thursday, December 12th. Finally, BMO Capital Markets decreased their target price on shares of Adobe from $600.00 to $570.00 and set an “outperform” rating on the stock in a research report on Thursday, December 12th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $573.00.

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.