Thompson Investment Management Inc. grew its holdings in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 50.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,486 shares of the software company's stock after acquiring an additional 4,882 shares during the period. Thompson Investment Management Inc.'s holdings in Adobe were worth $6,442,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of ADBE. Piscataqua Savings Bank grew its holdings in Adobe by 226.7% during the 3rd quarter. Piscataqua Savings Bank now owns 49 shares of the software company's stock worth $25,000 after acquiring an additional 34 shares during the period. Legacy Investment Solutions LLC acquired a new stake in Adobe during the 3rd quarter worth about $26,000. Groupama Asset Managment grew its holdings in Adobe by 28.8% during the 3rd quarter. Groupama Asset Managment now owns 51,482 shares of the software company's stock worth $27,000 after acquiring an additional 11,522 shares during the period. MidAtlantic Capital Management Inc. bought a new position in shares of Adobe during the 3rd quarter worth about $30,000. Finally, True Wealth Design LLC boosted its position in shares of Adobe by 141.7% during the 3rd quarter. True Wealth Design LLC now owns 58 shares of the software company's stock worth $30,000 after purchasing an additional 34 shares in the last quarter. 81.79% of the stock is currently owned by institutional investors and hedge funds.
ADBE opened at $433.07 on Friday. The company has a fifty day moving average price of $453.92 and a 200-day moving average price of $499.63. The firm has a market capitalization of $188.52 billion, a P/E ratio of 34.93, a price-to-earnings-growth ratio of 2.11 and a beta of 1.31. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. Adobe Inc. has a one year low of $403.75 and a one year high of $628.07.
Adobe (NASDAQ:ADBE - Get Free Report) last released its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, beating 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 firm had revenue of $5.61 billion during the quarter, compared to analyst estimates of $5.54 billion. During the same period in the previous year, the business earned $3.52 EPS. The business's revenue for the quarter was up 11.1% on a year-over-year basis. Equities research analysts expect that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.
A number of equities analysts have recently issued reports on the stock. Oppenheimer cut their price objective on shares of Adobe from $625.00 to $600.00 and set an "outperform" rating on the stock in a research report on Thursday, December 12th. Citigroup cut their price objective on shares of Adobe from $616.00 to $590.00 and set a "neutral" rating on the stock in a research report on Monday, December 9th. JMP Securities reissued a "market perform" rating on shares of Adobe in a research report on Thursday, December 12th. Royal Bank of Canada cut their price objective on shares of Adobe from $610.00 to $590.00 and set an "outperform" rating on the stock in a research report on Thursday, December 12th. Finally, StockNews.com raised shares of Adobe from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $573.00.
Get Our Latest Stock Analysis on ADBE
In other news, EVP Scott Belsky sold 3,819 shares of Adobe stock in a transaction 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 approximately $7,888,020.16. The trade was a 17.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Jillian Forusz sold 334 shares of Adobe stock in a transaction 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 $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. In the last ninety days, insiders sold 5,681 shares of company stock valued at $2,525,126. Insiders own 0.15% of the company's stock.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you make your next trade, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis.
Our team has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and none of the big name stocks were on the list.
They believe these five stocks are the five best companies for investors to buy now...
See The Five Stocks Here
Before you consider Adobe, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Adobe wasn't on the list.
While Adobe currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.