Jag Capital Management LLC Has $4.31 Million Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

Jag Capital Management LLC cut its position in Adobe Inc. (NASDAQ:ADBE) by 1.2% during the 4th quarter, HoldingsChannel reports. The firm owned 9,680 shares of the software company’s stock after selling 116 shares during the quarter. Jag Capital Management LLC’s holdings in Adobe were worth $4,305,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Legacy Investment Solutions LLC bought a new stake in Adobe in the 3rd quarter valued at $26,000. Groupama Asset Managment lifted its position in Adobe by 28.8% in the 3rd quarter. Groupama Asset Managment now owns 51,482 shares of the software company’s stock valued at $27,000 after acquiring an additional 11,522 shares in the last quarter. MidAtlantic Capital Management Inc. bought a new stake in Adobe in the 3rd quarter valued at $30,000. True Wealth Design LLC lifted its position in Adobe by 141.7% in the 3rd quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock valued at $30,000 after acquiring an additional 34 shares in the last quarter. Finally, Decker Retirement Planning Inc. bought a new stake in Adobe in the 4th quarter valued at $31,000. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports 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 research note on Wednesday, January 15th. Oppenheimer lowered their price objective on shares of Adobe from $625.00 to $600.00 and set an “outperform” rating on the stock in a research note on Thursday, December 12th. Sanford C. Bernstein lowered 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. Jefferies Financial Group decreased their price target on shares of Adobe from $700.00 to $650.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. Finally, BMO Capital Markets decreased their price target on shares of Adobe from $570.00 to $515.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $570.88.

Adobe Stock Up 0.5 %

Adobe stock opened at $440.72 on Tuesday. Adobe Inc. has a 1-year low of $403.75 and a 1-year high of $587.75. The firm has a market capitalization of $191.85 billion, a price-to-earnings ratio of 35.54, a price-to-earnings-growth ratio of 2.15 and a beta of 1.31. The firm’s fifty day moving average price is $439.59 and its two-hundred day moving average price is $489.79. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29.

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, 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 company had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.54 billion. During the same period last year, the firm earned $3.52 earnings per share. The firm’s revenue was up 11.1% on a year-over-year basis. On average, equities research analysts predict that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Insider Transactions at Adobe

In other news, CAO Jillian Forusz sold 334 shares of the business’s stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $435.83, for a total value of $145,567.22. Following the completion of the sale, the chief accounting officer now directly owns 2,685 shares in the company, valued at approximately $1,170,203.55. The trade was a 11.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Amy Banse sold 606 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was 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 owns 32,929 shares of the company’s stock, valued at approximately $18,110,950. The trade was a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,681 shares of company stock worth $2,525,126 over the last quarter. Corporate insiders own 0.15% of the company’s stock.

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.