Adobe Inc. (NASDAQ:ADBE) Shares Purchased by Cape Investment Advisory Inc.

Cape Investment Advisory Inc. boosted its holdings in Adobe Inc. (NASDAQ:ADBE) by 34.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 2,591 shares of the software company’s stock after buying an additional 666 shares during the quarter. Cape Investment Advisory Inc.’s holdings in Adobe were worth $1,152,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Purkiss Capital Advisors LLC acquired a new position in shares of Adobe during the 4th quarter valued at about $205,000. Duncker Streett & Co. Inc. increased its position in Adobe by 2.2% during the fourth quarter. Duncker Streett & Co. Inc. now owns 8,388 shares of the software company’s stock worth $3,730,000 after purchasing an additional 177 shares during the last quarter. Cantillon Capital Management LLC increased its position in Adobe by 18.3% during the fourth quarter. Cantillon Capital Management LLC now owns 614,862 shares of the software company’s stock worth $273,417,000 after purchasing an additional 95,235 shares during the last quarter. Sherman Asset Management Inc. acquired a new stake in shares of Adobe during the 4th quarter worth $68,000. Finally, Onefund LLC increased its holdings in shares of Adobe by 2.6% during the 4th quarter. Onefund LLC now owns 1,193 shares of the software company’s stock worth $531,000 after buying an additional 30 shares during the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ADBE. Citigroup dropped their price objective on Adobe from $616.00 to $590.00 and set a “neutral” rating for the company in a report on Monday, December 9th. DA Davidson dropped their price target on Adobe from $685.00 to $625.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. JMP Securities reissued a “market perform” rating on shares of Adobe in a research report on Thursday, December 12th. Wells Fargo & Company dropped their target price on shares of Adobe from $700.00 to $640.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Finally, Bank of America dropped their price objective on shares of Adobe from $640.00 to $605.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Adobe currently has a consensus rating of “Moderate Buy” and a consensus target price of $570.88.

Insider Buying and Selling

In related news, Director Amy Banse sold 606 shares of the firm’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 sale, the director now owns 32,929 shares of the company’s stock, valued at approximately $18,110,950. This trade represents a 1.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Jillian Forusz sold 334 shares of the firm’s stock in a transaction 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 sale, the chief accounting officer now owns 2,685 shares in the company, valued at $1,170,203.55. The trade was a 11.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,681 shares of company stock worth $2,525,126 over the last ninety days. 0.15% of the stock is owned by insiders.

Adobe Stock Performance

Shares of ADBE stock opened at $438.49 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07. Adobe Inc. has a one year low of $403.75 and a one year high of $587.75. The company’s 50-day simple moving average is $439.71 and its 200-day simple moving average is $490.93. The stock has a market capitalization of $190.87 billion, a price-to-earnings ratio of 35.36, a PEG ratio of 2.15 and a beta of 1.31.

Adobe (NASDAQ:ADBE) last released its earnings results on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, topping analysts’ consensus estimates of $4.67 by $0.14. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The company had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $5.54 billion. During the same quarter last year, the business posted $3.52 EPS. Adobe’s quarterly revenue was up 11.1% compared to the same quarter last year. Equities analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

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.