Baltimore Washington Financial Advisors Inc. Raises Holdings in Adobe Inc. (NASDAQ:ADBE)

Baltimore Washington Financial Advisors Inc. boosted its stake in Adobe Inc. (NASDAQ:ADBE) by 0.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 25,586 shares of the software company’s stock after buying an additional 76 shares during the quarter. Baltimore Washington Financial Advisors Inc.’s holdings in Adobe were worth $11,378,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of ADBE. Czech National Bank boosted its holdings in shares of Adobe by 5.8% in the 3rd quarter. Czech National Bank now owns 90,325 shares of the software company’s stock valued at $46,768,000 after purchasing an additional 4,954 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Adobe by 28.0% in the 3rd quarter. GAMMA Investing LLC now owns 6,458 shares of the software company’s stock worth $3,344,000 after buying an additional 1,412 shares during the period. Diversified Trust Co boosted its holdings in Adobe by 10.8% in the third quarter. Diversified Trust Co now owns 6,446 shares of the software company’s stock valued at $3,338,000 after acquiring an additional 630 shares during the last quarter. Smith Anglin Financial LLC grew its position in Adobe by 6.1% during the third quarter. Smith Anglin Financial LLC now owns 657 shares of the software company’s stock valued at $340,000 after acquiring an additional 38 shares during the period. Finally, Consilio Wealth Advisors LLC increased its stake in Adobe by 15.9% during the third quarter. Consilio Wealth Advisors LLC now owns 539 shares of the software company’s stock worth $279,000 after acquiring an additional 74 shares during the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Insiders Place Their Bets

In related news, Director Amy Banse sold 606 shares of the firm’s stock in a transaction 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 sale, the director now directly owns 32,929 shares in the company, valued at $18,110,950. This trade represents a 1.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David A. Ricks acquired 2,250 shares of the business’s stock in a transaction on Tuesday, January 28th. The stock was acquired at an average cost of $443.98 per share, for a total transaction of $998,955.00. Following the transaction, the director now directly owns 4,984 shares in the company, valued at $2,212,796.32. The trade was a 82.30 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 5,681 shares of company stock worth $2,525,126 over the last quarter. 0.15% of the stock is currently owned by corporate insiders.

Adobe Trading Up 0.3 %

NASDAQ ADBE opened at $438.60 on Tuesday. Adobe Inc. has a fifty-two week low of $403.75 and a fifty-two week high of $634.59. 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 50 day simple moving average of $461.97 and a two-hundred day simple moving average of $502.99. The stock has a market cap of $190.92 billion, a P/E ratio of 35.37, a price-to-earnings-growth ratio of 2.12 and a beta of 1.31.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $5.54 billion. During the same quarter last year, the firm earned $3.52 earnings per share. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. On average, analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. UBS Group dropped their price objective on shares of Adobe from $525.00 to $475.00 and set a “neutral” rating for the company in a research report on Friday, January 3rd. BMO Capital Markets lowered their price target on Adobe from $600.00 to $570.00 and set an “outperform” rating for the company in a report on Thursday, December 12th. Mizuho reduced 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. Citigroup lowered their target price on Adobe from $616.00 to $590.00 and set a “neutral” rating for the company in a research note on Monday, December 9th. Finally, Barclays dropped their target price on Adobe from $675.00 to $645.00 and set an “overweight” rating on the stock in a report on Thursday, December 12th. One analyst has rated the stock with a sell rating, ten have given a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Adobe has a consensus rating of “Moderate Buy” and an average price target of $573.00.

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.