RFG Holdings Inc. Increases Stake in Adobe Inc. (NASDAQ:ADBE)

RFG Holdings Inc. grew its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 21.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,434 shares of the software company’s stock after buying an additional 258 shares during the period. RFG Holdings Inc.’s holdings in Adobe were worth $638,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Czech National Bank increased its holdings in shares of Adobe by 5.8% in the 3rd quarter. Czech National Bank now owns 90,325 shares of the software company’s stock worth $46,768,000 after buying an additional 4,954 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Adobe by 28.0% in the 3rd quarter. GAMMA Investing LLC now owns 6,458 shares of the software company’s stock valued at $3,344,000 after purchasing an additional 1,412 shares during the last quarter. Diversified Trust Co boosted its holdings in shares of Adobe by 10.8% in the 3rd quarter. Diversified Trust Co now owns 6,446 shares of the software company’s stock worth $3,338,000 after purchasing an additional 630 shares during the period. Smith Anglin Financial LLC raised its holdings in Adobe by 6.1% during the 3rd quarter. Smith Anglin Financial LLC now owns 657 shares of the software company’s stock valued at $340,000 after buying an additional 38 shares during the period. Finally, Consilio Wealth Advisors LLC lifted its position in Adobe by 15.9% in the third quarter. Consilio Wealth Advisors LLC now owns 539 shares of the software company’s stock worth $279,000 after buying an additional 74 shares during the last quarter. Institutional investors own 81.79% of the company’s stock.

Adobe Stock Up 0.7 %

ADBE stock opened at $441.69 on Tuesday. 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 Inc. has a 52 week low of $403.75 and a 52 week high of $634.59. The stock has a market capitalization of $192.27 billion, a PE ratio of 35.51, a price-to-earnings-growth ratio of 2.12 and a beta of 1.31. The firm has a 50 day moving average of $461.97 and a 200 day moving average of $502.99.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 earnings per share for the quarter, beating 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 firm had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.54 billion. During the same period in the previous year, the company earned $3.52 earnings per share. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. Sell-side analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on ADBE shares. BNP Paribas raised shares of Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 price target for the company in a research note on Wednesday, January 15th. TD Cowen downgraded shares of Adobe from a “buy” rating to a “hold” rating and decreased their price target for the company from $625.00 to $550.00 in a research note on Thursday, December 12th. Jefferies Financial Group reduced their price objective on Adobe from $700.00 to $650.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Bank of America dropped their price target on Adobe from $640.00 to $605.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Finally, JMP Securities restated a “market perform” rating on shares of Adobe in a report on Thursday, December 12th. One 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 issued a strong buy rating to the company’s stock. According to MarketBeat.com, Adobe presently has a consensus rating of “Moderate Buy” and an average target price of $573.00.

Insider Buying and Selling

In other news, CAO Jillian Forusz sold 334 shares of the company’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total value of $145,567.22. Following the sale, the chief accounting officer now owns 2,685 shares in the company, valued at $1,170,203.55. This represents a 11.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David A. Ricks purchased 2,250 shares of Adobe stock in a transaction that occurred on Tuesday, January 28th. The shares were bought at an average price of $443.98 per share, with a total value of $998,955.00. Following the completion of the transaction, the director now owns 4,984 shares of the company’s stock, valued at $2,212,796.32. This represents a 82.30 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 5,681 shares of company stock valued at $2,525,126 over the last quarter. 0.15% of the stock is currently owned by company insiders.

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.