Adobe Inc. (NASDAQ:ADBE) Shares Acquired by Quent Capital LLC

Quent Capital LLC boosted its holdings in Adobe Inc. (NASDAQ:ADBE) by 5.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,081 shares of the software company’s stock after acquiring an additional 100 shares during the period. Quent Capital LLC’s holdings in Adobe were worth $925,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Piscataqua Savings Bank grew its position in shares of Adobe by 226.7% in the third quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock valued at $25,000 after purchasing an additional 34 shares during the last quarter. Legacy Investment Solutions LLC purchased a new stake in Adobe in the 3rd quarter valued at approximately $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 valued at $27,000 after buying an additional 11,522 shares during the last quarter. MidAtlantic Capital Management Inc. purchased a new position in Adobe during the third quarter worth $30,000. Finally, True Wealth Design LLC raised its holdings in shares of Adobe by 141.7% in the third quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock worth $30,000 after acquiring an additional 34 shares during the last quarter. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Adobe

In related news, Director Amy Banse sold 606 shares of the stock in a transaction dated 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 transaction, the director now owns 32,929 shares of the company’s stock, valued at approximately $18,110,950. This represents a 1.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Scott Belsky sold 922 shares of Adobe stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $437.28, for a total value of $403,172.16. Following the sale, the executive vice president now owns 22,153 shares in the company, valued at $9,687,063.84. This represents a 4.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 5,681 shares of company stock valued at $2,525,126. Corporate insiders own 0.15% of the company’s stock.

Adobe Trading Up 1.7 %

Shares of ADBE opened at $458.82 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. Adobe Inc. has a 12 month low of $403.75 and a 12 month high of $626.34. The stock has a market cap of $199.72 billion, a PE ratio of 37.00, a P/E/G ratio of 2.11 and a beta of 1.31. The stock’s 50-day moving average is $452.62 and its two-hundred day moving average is $498.52.

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

Analyst Ratings Changes

ADBE has been the subject of a number of recent research reports. Jefferies Financial Group dropped their price objective on Adobe from $700.00 to $650.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. StockNews.com upgraded shares of Adobe from a “buy” rating to a “strong-buy” rating in a report on Tuesday, January 28th. Sanford C. Bernstein reduced their price objective on shares of Adobe from $644.00 to $587.00 and set an “outperform” rating on the stock in a research note on Thursday, December 12th. UBS Group lowered their target price on shares of Adobe from $525.00 to $475.00 and set a “neutral” rating for the company in a research note on Friday, January 3rd. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $475.00 price target (down previously from $600.00) on shares of Adobe in a research note on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $573.00.

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.