Jackson Hole Capital Partners LLC Decreases Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

Jackson Hole Capital Partners LLC decreased its holdings in Adobe Inc. (NASDAQ:ADBE) by 4.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,009 shares of the software company’s stock after selling 214 shares during the quarter. Jackson Hole Capital Partners LLC’s holdings in Adobe were worth $2,227,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Swedbank AB increased its position in shares of Adobe by 0.3% during the 3rd quarter. Swedbank AB now owns 1,196,175 shares of the software company’s stock valued at $619,355,000 after purchasing an additional 3,739 shares during the last quarter. ARK Investment Management LLC lifted its position in Adobe by 98.7% in the third quarter. ARK Investment Management LLC now owns 151 shares of the software company’s stock worth $78,000 after buying an additional 75 shares during the last quarter. Capital Performance Advisors LLP purchased a new stake in Adobe in the third quarter worth $103,000. Equitable Trust Co. increased its stake in Adobe by 46.3% in the third quarter. Equitable Trust Co. now owns 8,437 shares of the software company’s stock worth $4,369,000 after purchasing an additional 2,669 shares during the period. Finally, CWA Asset Management Group LLC purchased a new position in shares of Adobe during the third quarter valued at $1,301,000. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ADBE. Citigroup lowered their price target on Adobe from $616.00 to $590.00 and set a “neutral” rating for the company in a report on Monday, December 9th. Redburn Atlantic assumed coverage on Adobe in a research note on Wednesday, February 19th. They set a “neutral” rating on the stock. BNP Paribas upgraded Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 target price for the company in a report on Wednesday, January 15th. JMP Securities restated a “market perform” rating on shares of Adobe in a report on Thursday, December 12th. Finally, Oppenheimer reduced their price target on Adobe from $625.00 to $600.00 and set an “outperform” rating on the stock in a research report on Thursday, December 12th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Adobe presently has a consensus rating of “Moderate Buy” and a consensus price target of $567.81.

Adobe Price Performance

ADBE opened at $449.40 on Friday. 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 12-month low of $403.75 and a 12-month high of $587.75. The stock has a fifty day moving average of $439.56 and a 200-day moving average of $487.15. The firm has a market capitalization of $195.62 billion, a P/E ratio of 36.24, a PEG ratio of 2.15 and a beta of 1.37.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.67 by $0.14. The company 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 firm’s revenue was up 11.1% compared to the same quarter last year. During the same period last year, the business posted $3.52 earnings per share. Equities analysts forecast that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Insider Transactions at Adobe

In other news, Director David A. Ricks bought 2,250 shares of the business’s stock in a transaction on Tuesday, January 28th. The shares were purchased at an average price of $443.98 per share, for a total transaction of $998,955.00. Following the purchase, the director now owns 4,984 shares of the company’s stock, valued at approximately $2,212,796.32. The trade was a 82.30 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 owns 2,685 shares in the company, valued at $1,170,203.55. The trade was a 11.06 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,075 shares of company stock worth $2,191,826. 0.15% of the stock is currently owned by company insiders.

About Adobe

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.