Blue Trust Inc. Acquires 1,191 Shares of Adobe Inc. (NASDAQ:ADBE)

Blue Trust Inc. lifted its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 15.4% during the 4th quarter, Holdings Channel reports. The firm owned 8,943 shares of the software company’s stock after purchasing an additional 1,191 shares during the period. Blue Trust Inc.’s holdings in Adobe were worth $3,977,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Stablepoint Partners LLC boosted its position in shares of Adobe by 6.5% during the 4th quarter. Stablepoint Partners LLC now owns 1,613 shares of the software company’s stock worth $717,000 after acquiring an additional 98 shares in the last quarter. Regatta Capital Group LLC boosted its position in shares of Adobe by 24.7% during the 4th quarter. Regatta Capital Group LLC now owns 706 shares of the software company’s stock worth $314,000 after acquiring an additional 140 shares in the last quarter. Novare Capital Management LLC boosted its position in shares of Adobe by 0.5% during the 4th quarter. Novare Capital Management LLC now owns 26,103 shares of the software company’s stock worth $11,607,000 after acquiring an additional 141 shares in the last quarter. Guerra Pan Advisors LLC boosted its position in shares of Adobe by 3.4% during the 4th quarter. Guerra Pan Advisors LLC now owns 1,954 shares of the software company’s stock worth $869,000 after acquiring an additional 65 shares in the last quarter. Finally, Clarendon Private LLC acquired a new stake in shares of Adobe during the 4th quarter worth approximately $260,000. 81.79% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ADBE shares. Jefferies Financial Group reduced their price target on shares of Adobe from $700.00 to $650.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $475.00 target price (down previously from $600.00) on shares of Adobe in a research report on Wednesday, January 8th. Mizuho cut their target price 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. StockNews.com lowered shares of Adobe from a “strong-buy” rating to a “buy” rating in a research report on Monday, January 20th. Finally, BMO Capital Markets cut their target price on shares of Adobe from $600.00 to $570.00 and set an “outperform” rating on the stock in a research report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Adobe has a consensus rating of “Moderate Buy” and a consensus price target of $573.00.

Insider Buying and Selling at Adobe

In other Adobe news, CAO Jillian Forusz sold 676 shares of Adobe stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $484.97, for a total value of $327,839.72. Following the completion of the sale, the chief accounting officer now directly owns 2,715 shares of the company’s stock, valued at approximately $1,316,693.55. The trade was a 19.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Amy Banse sold 606 shares of Adobe stock in a transaction on Friday, December 6th. The shares were sold at an average price of $550.00, for a total transaction of $333,300.00. Following the completion of 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 own 0.15% of the company’s stock.

Adobe Price Performance

Shares of NASDAQ ADBE opened at $435.38 on Monday. Adobe Inc. has a twelve month low of $403.75 and a twelve month high of $638.25. The firm has a fifty day simple moving average of $468.14 and a 200 day simple moving average of $507.66. The company has a market capitalization of $189.52 billion, a PE ratio of 35.11, a P/E/G ratio of 2.12 and a beta of 1.31. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29.

Adobe (NASDAQ:ADBE) last announced its 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. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The business 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. Adobe’s quarterly revenue was up 11.1% on a year-over-year basis. On average, sell-side analysts forecast that Adobe Inc. will post 16.65 EPS for the current year.

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.