Nvest Financial LLC Boosts Holdings in Adobe Inc. (NASDAQ:ADBE)

Nvest Financial LLC increased its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 5.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,979 shares of the software company’s stock after buying an additional 106 shares during the period. Nvest Financial LLC’s holdings in Adobe were worth $880,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in ADBE. Magnolia Capital Advisors LLC grew its stake in Adobe by 13.9% during the 2nd quarter. Magnolia Capital Advisors LLC now owns 664 shares of the software company’s stock worth $369,000 after purchasing an additional 81 shares in the last quarter. Regal Investment Advisors LLC grew its position in shares of Adobe by 2.6% during the second quarter. Regal Investment Advisors LLC now owns 1,382 shares of the software company’s stock worth $768,000 after buying an additional 35 shares in the last quarter. EP Wealth Advisors LLC grew its position in shares of Adobe by 4.1% during the second quarter. EP Wealth Advisors LLC now owns 8,939 shares of the software company’s stock worth $4,966,000 after buying an additional 356 shares in the last quarter. Next Capital Management LLC increased its stake in shares of Adobe by 3.2% during the second quarter. Next Capital Management LLC now owns 678 shares of the software company’s stock worth $377,000 after buying an additional 21 shares during the period. Finally, Advisory Alpha LLC acquired a new stake in Adobe in the second quarter valued at approximately $224,000. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ADBE. 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 research report on Thursday, December 12th. BNP Paribas raised Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 target price on the stock in a report on Wednesday, January 15th. BMO Capital Markets cut their price target on Adobe from $600.00 to $570.00 and set an “outperform” rating on the stock in a research note on Thursday, December 12th. Barclays lowered their price objective on Adobe from $675.00 to $645.00 and set an “overweight” rating for the company in a research report on Thursday, December 12th. Finally, Bank of America cut their target price on Adobe from $640.00 to $605.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Adobe presently has a consensus rating of “Moderate Buy” and an average target price of $573.00.

Insiders Place Their Bets

In other news, Director Amy Banse sold 606 shares of the stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $550.00, for a total value of $333,300.00. Following the completion of the transaction, the director now owns 32,929 shares in the company, valued at $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 available through this hyperlink. Also, EVP Scott Belsky sold 922 shares of the firm’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $437.28, for a total transaction of $403,172.16. Following the completion of the sale, the executive vice president now owns 22,153 shares of the company’s stock, valued at $9,687,063.84. This trade represents a 4.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,681 shares of company stock worth $2,525,126. Company insiders own 0.15% of the company’s stock.

Adobe Price Performance

Adobe stock opened at $442.70 on Wednesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. The business has a 50 day simple moving average of $465.79 and a 200-day simple moving average of $505.60. Adobe Inc. has a 12 month low of $403.75 and a 12 month high of $638.25. The stock has a market capitalization of $192.71 billion, a PE ratio of 35.70, a price-to-earnings-growth ratio of 2.12 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 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 analysts’ expectations of $5.54 billion. During the same quarter last year, the business earned $3.52 EPS. The business’s revenue was up 11.1% on a year-over-year basis. Equities analysts predict that Adobe Inc. will post 16.65 earnings per share for the current 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.