Howard Financial Services LTD. Buys Shares of 489 Adobe Inc. (NASDAQ:ADBE)

Howard Financial Services LTD. purchased a new position in shares of Adobe Inc. (NASDAQ:ADBE) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 489 shares of the software company’s stock, valued at approximately $217,000.

Other large investors also recently bought and sold shares of the company. State Street Corp grew its stake in Adobe by 1.2% in the 3rd quarter. State Street Corp now owns 20,270,287 shares of the software company’s stock worth $10,495,544,000 after acquiring an additional 234,909 shares in the last quarter. Geode Capital Management LLC increased its holdings in Adobe by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 10,529,089 shares of the software company’s stock worth $5,435,377,000 after purchasing an additional 147,981 shares during the period. FMR LLC lifted its holdings in shares of Adobe by 8.8% in the 3rd quarter. FMR LLC now owns 9,690,163 shares of the software company’s stock worth $5,017,373,000 after buying an additional 787,356 shares during the period. Fisher Asset Management LLC increased its stake in shares of Adobe by 2.0% during the third quarter. Fisher Asset Management LLC now owns 4,859,584 shares of the software company’s stock valued at $2,516,196,000 after buying an additional 93,143 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Adobe by 3.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,741,549 shares of the software company’s stock valued at $2,455,079,000 after acquiring an additional 140,390 shares in the last quarter. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. TD Cowen lowered shares of Adobe from a “buy” rating to a “hold” rating and reduced their price target for the company from $625.00 to $550.00 in a report on Thursday, December 12th. JMP Securities reiterated a “market perform” rating on shares of Adobe in a report on Thursday, December 12th. BMO Capital Markets cut their target price on Adobe from $600.00 to $570.00 and set an “outperform” rating on the stock in a research note on Thursday, December 12th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $475.00 price target (down from $600.00) on shares of Adobe in a research report on Wednesday, January 8th. Finally, DA Davidson reduced their price objective on shares of Adobe from $685.00 to $625.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $573.00.

Adobe Price Performance

Shares of NASDAQ ADBE opened at $429.99 on Friday. The firm’s 50 day simple moving average is $477.84 and its 200-day simple moving average is $513.73. Adobe Inc. has a 12 month low of $403.75 and a 12 month high of $638.25. The stock has a market capitalization of $189.28 billion, a price-to-earnings 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 current ratio of 1.07 and a quick ratio of 1.11.

Adobe (NASDAQ:ADBE) last posted its earnings results 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 business had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.54 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the prior year, the company posted $3.52 EPS. Analysts expect that Adobe Inc. will post 16.65 EPS for the current year.

Insider Transactions at Adobe

In other news, Director Amy Banse sold 606 shares of the firm’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 value of $333,300.00. Following the transaction, the director now owns 32,929 shares in the company, valued at $18,110,950. This trade represents a 1.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Scott Belsky sold 481 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $483.42, for a total value of $232,525.02. Following the sale, the executive vice president now owns 18,128 shares of the company’s stock, valued at $8,763,437.76. The trade was a 2.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,763 shares of company stock valued at $893,665 in the last three months. 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.