Adobe Inc. (NASDAQ:ADBE) Holdings Raised by Arkadios Wealth Advisors

Arkadios Wealth Advisors grew its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 7.4% during the 4th quarter, HoldingsChannel reports. The fund owned 2,812 shares of the software company’s stock after acquiring an additional 193 shares during the period. Arkadios Wealth Advisors’ holdings in Adobe were worth $1,250,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Trust Co of Kansas increased its position in Adobe by 1.3% in the 4th quarter. Trust Co of Kansas now owns 11,139 shares of the software company’s stock worth $4,953,000 after purchasing an additional 144 shares during the last quarter. Lake Street Private Wealth LLC grew its stake in shares of Adobe by 1.0% in the 4th quarter. Lake Street Private Wealth LLC now owns 7,568 shares of the software company’s stock valued at $3,365,000 after buying an additional 77 shares in the last quarter. Canoe Financial LP increased its holdings in Adobe by 1.7% in the fourth quarter. Canoe Financial LP now owns 23,606 shares of the software company’s stock worth $10,497,000 after buying an additional 400 shares during the last quarter. Dakota Community Bank & Trust NA raised its position in Adobe by 18.1% during the fourth quarter. Dakota Community Bank & Trust NA now owns 228 shares of the software company’s stock valued at $101,000 after acquiring an additional 35 shares in the last quarter. Finally, Brooklyn Investment Group lifted its stake in Adobe by 2.2% in the fourth quarter. Brooklyn Investment Group now owns 3,394 shares of the software company’s stock valued at $1,509,000 after acquiring an additional 73 shares during the last quarter. 81.79% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Adobe

In other news, CAO Jillian Forusz sold 676 shares of the stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $484.97, for a total value of $327,839.72. Following the transaction, the chief accounting officer now owns 2,715 shares of the company’s stock, valued at $1,316,693.55. This represents a 19.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Amy Banse sold 606 shares of Adobe 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 sale, the director now directly owns 32,929 shares of the company’s stock, valued at approximately $18,110,950. This trade represents a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,763 shares of company stock worth $893,665 over the last ninety days. Company insiders own 0.15% of the company’s stock.

Adobe Price Performance

Shares of ADBE stock opened at $429.99 on Monday. Adobe Inc. has a 52 week low of $403.75 and a 52 week high of $638.25. The stock has a market capitalization of $189.28 billion, a PE ratio of 34.68, a PEG ratio of 1.97 and a beta of 1.31. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.11 and a current ratio of 1.07. The stock’s fifty day moving average is $476.55 and its 200-day moving average is $512.44.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.67 by $0.14. The firm had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $5.54 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The business’s revenue for the quarter 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 research analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on ADBE shares. BNP Paribas upgraded shares of Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 price target on the stock in a report on Wednesday, January 15th. StockNews.com upgraded Adobe from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 18th. Bank of America decreased their price target on Adobe from $640.00 to $605.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. Mizuho cut 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. Finally, BMO Capital Markets decreased their target price on Adobe from $600.00 to $570.00 and set an “outperform” rating for the company in a research report on Thursday, December 12th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price 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.