Shariaportfolio Inc. Has $1.50 Million Holdings in Adobe Inc. (NASDAQ:ADBE)

Shariaportfolio Inc. lifted its holdings in Adobe Inc. (NASDAQ:ADBE) by 9.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,364 shares of the software company’s stock after purchasing an additional 283 shares during the period. Adobe accounts for about 0.7% of Shariaportfolio Inc.’s investment portfolio, making the stock its 21st biggest holding. Shariaportfolio Inc.’s holdings in Adobe were worth $1,496,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. FMR LLC raised 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 period. Assenagon Asset Management S.A. raised its holdings in Adobe by 42.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,168,584 shares of the software company’s stock worth $519,646,000 after acquiring an additional 347,536 shares during the period. Seilern Investment Management Ltd bought a new position in Adobe in the 4th quarter worth $110,744,000. Erste Asset Management GmbH bought a new position in Adobe in the 3rd quarter worth $126,703,000. Finally, State Street Corp raised its holdings in Adobe by 1.2% in the 3rd quarter. State Street Corp now owns 20,270,287 shares of the software company’s stock worth $10,495,544,000 after acquiring an additional 234,909 shares during the period. Institutional investors and hedge funds own 81.79% of the company’s stock.

Adobe Price Performance

NASDAQ:ADBE opened at $444.32 on Monday. Adobe Inc. has a 12 month low of $403.75 and a 12 month high of $587.75. The company’s 50-day moving average price is $440.46 and its two-hundred day moving average price is $493.88. The firm has a market cap of $193.41 billion, a PE ratio of 35.83, a price-to-earnings-growth ratio of 2.20 and a beta of 1.31. 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 announced its earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.67 by $0.14. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The company had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.54 billion. During the same period in the prior year, the business earned $3.52 earnings per share. Adobe’s quarterly revenue was up 11.1% on a year-over-year basis. On average, equities analysts anticipate that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ADBE. Barclays dropped their target price on shares of Adobe from $675.00 to $645.00 and set an “overweight” rating on the stock in a report on Thursday, December 12th. StockNews.com downgraded shares of Adobe from a “strong-buy” rating to a “buy” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $475.00 target price (down previously from $600.00) on shares of Adobe in a report on Wednesday, January 8th. Sanford C. Bernstein dropped their price objective on shares of Adobe from $644.00 to $587.00 and set an “outperform” rating on the stock in a report on Thursday, December 12th. Finally, Mizuho dropped their price objective on shares of Adobe from $640.00 to $620.00 and set an “outperform” rating on the stock in a report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $570.88.

Insider Transactions at Adobe

In related news, EVP Scott Belsky sold 3,819 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $430.24, for a total transaction of $1,643,086.56. Following the completion of the sale, the executive vice president now directly 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 transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Jillian Forusz sold 334 shares of the business’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total transaction of $145,567.22. Following the sale, the chief accounting officer now directly owns 2,685 shares of the company’s stock, valued at approximately $1,170,203.55. This trade represents a 11.06 % 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 worth $2,525,126. Corporate insiders own 0.15% of the company’s stock.

About Adobe

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.