Copperleaf Capital LLC Boosts Stake in Adobe Inc. (NASDAQ:ADBE)

Copperleaf Capital LLC lifted its stake in Adobe Inc. (NASDAQ:ADBE) by 49.9% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 2,173 shares of the software company’s stock after acquiring an additional 723 shares during the quarter. Copperleaf Capital LLC’s holdings in Adobe were worth $966,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Legacy Investment Solutions LLC purchased a new position in Adobe in the third quarter valued at about $26,000. Groupama Asset Managment boosted its holdings in Adobe by 28.8% in the third quarter. Groupama Asset Managment now owns 51,482 shares of the software company’s stock valued at $27,000 after purchasing an additional 11,522 shares during the last quarter. MidAtlantic Capital Management Inc. purchased a new position in Adobe in the third quarter valued at about $30,000. True Wealth Design LLC boosted its holdings in Adobe by 141.7% in the third quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock valued at $30,000 after purchasing an additional 34 shares during the last quarter. Finally, Decker Retirement Planning Inc. purchased a new position in Adobe in the fourth quarter valued at about $31,000. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. UBS Group cut their price objective on Adobe from $525.00 to $475.00 and set a “neutral” rating on the stock in a research note on Friday, January 3rd. DA Davidson reduced their target price on Adobe from $685.00 to $625.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Stifel Nicolaus reduced their target price on Adobe from $650.00 to $600.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Wells Fargo & Company reduced their target price on Adobe from $700.00 to $640.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Finally, Oppenheimer reduced their target price on Adobe from $625.00 to $600.00 and set an “outperform” rating on the stock in a report on Thursday, December 12th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Adobe presently has a consensus rating of “Moderate Buy” and a consensus price target of $573.00.

Adobe Stock Up 0.2 %

Shares of ADBE stock opened at $460.16 on Friday. Adobe Inc. has a 1 year low of $403.75 and a 1 year high of $607.32. The stock has a market cap of $200.31 billion, a PE ratio of 37.11, a price-to-earnings-growth ratio of 2.11 and a beta of 1.31. The business’s fifty day moving average is $446.56 and its 200-day moving average is $496.88. 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 (NASDAQ:ADBE) last issued its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts’ expectations of $5.54 billion. During the same period last year, the firm earned $3.52 EPS. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. Equities analysts expect that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CAO Jillian Forusz sold 334 shares of the firm’s stock in a transaction on Tuesday, January 28th. The stock was 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 of the company’s stock, valued at $1,170,203.55. This trade represents a 11.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Scott Belsky sold 3,819 shares of the firm’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $430.24, for a total value 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. This trade represents a 17.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,681 shares of company stock worth $2,525,126 in the last three months. 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.