Jordan Park Group LLC Purchases 80 Shares of Adobe Inc. (NASDAQ:ADBE)

Jordan Park Group LLC raised its stake in Adobe Inc. (NASDAQ:ADBE) by 18.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 517 shares of the software company’s stock after buying an additional 80 shares during the period. Jordan Park Group LLC’s holdings in Adobe were worth $230,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Concurrent Investment Advisors LLC grew its position in shares of Adobe by 2.2% in the 4th quarter. Concurrent Investment Advisors LLC now owns 4,243 shares of the software company’s stock valued at $1,887,000 after buying an additional 90 shares during the last quarter. Handelsbanken Fonder AB grew its position in shares of Adobe by 6.1% in the 4th quarter. Handelsbanken Fonder AB now owns 170,531 shares of the software company’s stock valued at $75,832,000 after buying an additional 9,857 shares during the last quarter. Mcdaniel Terry & Co. grew its position in shares of Adobe by 2.1% in the 4th quarter. Mcdaniel Terry & Co. now owns 38,153 shares of the software company’s stock valued at $16,966,000 after buying an additional 801 shares during the last quarter. Ownership Capital B.V. grew its position in shares of Adobe by 24.1% in the 4th quarter. Ownership Capital B.V. now owns 347,294 shares of the software company’s stock valued at $154,435,000 after buying an additional 67,541 shares during the last quarter. Finally, Elk River Wealth Management LLC grew its position in shares of Adobe by 0.4% in the 4th quarter. Elk River Wealth Management LLC now owns 7,516 shares of the software company’s stock valued at $3,342,000 after buying an additional 28 shares during the last quarter. Institutional investors own 81.79% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on ADBE. Jefferies Financial Group reduced their price target on Adobe from $700.00 to $650.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Mizuho dropped their price objective on Adobe from $640.00 to $620.00 and set an “outperform” rating on the stock in a research note on Thursday, December 12th. BMO Capital Markets dropped their price objective on Adobe from $570.00 to $515.00 and set an “outperform” rating on the stock in a research note on Wednesday. JMP Securities reissued a “market perform” rating on shares of Adobe in a research note on Thursday, December 12th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $475.00 price objective (down from $600.00) on shares of Adobe in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $570.88.

Adobe Stock Performance

Shares of Adobe stock opened at $456.99 on Thursday. The company has a market cap of $198.93 billion, a PE ratio of 36.85, a price-to-earnings-growth ratio of 2.23 and a beta of 1.31. Adobe Inc. has a 52 week low of $403.75 and a 52 week high of $587.75. The business has a 50 day moving average price of $441.28 and a 200-day moving average price of $494.89. 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 (NASDAQ:ADBE) last issued its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, topping the consensus estimate of $4.67 by $0.14. The firm 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 company’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the business posted $3.52 earnings per share. Equities analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Insider Transactions at Adobe

In other news, Director Amy Banse sold 606 shares of the company’s stock in a transaction that occurred 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 transaction, the director now directly 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Jillian Forusz sold 334 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now directly owns 2,685 shares of the company’s stock, valued at approximately $1,170,203.55. This represents a 11.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,681 shares of company stock valued at $2,525,126 over the last ninety days. 0.15% of the stock is currently owned by 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.