FourThought Financial Partners LLC Purchases 133 Shares of Adobe Inc. (NASDAQ:ADBE)

FourThought Financial Partners LLC raised its holdings in Adobe Inc. (NASDAQ:ADBE) by 1.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,117 shares of the software company’s stock after purchasing an additional 133 shares during the quarter. FourThought Financial Partners LLC’s holdings in Adobe were worth $4,499,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in ADBE. FMR LLC boosted its position in Adobe by 8.8% in the 3rd quarter. FMR LLC now owns 9,690,163 shares of the software company’s stock valued at $5,017,373,000 after buying an additional 787,356 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Adobe by 42.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,168,584 shares of the software company’s stock worth $519,646,000 after purchasing an additional 347,536 shares during the last quarter. Seilern Investment Management Ltd acquired a new position in Adobe in the fourth quarter valued at about $110,744,000. Erste Asset Management GmbH bought a new position in Adobe during the 3rd quarter worth approximately $126,703,000. Finally, State Street Corp boosted its stake in Adobe by 1.2% during 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 during the last quarter. 81.79% of the stock is owned by institutional investors.

Insider Buying and Selling at Adobe

In related news, CAO Jillian Forusz sold 334 shares of Adobe stock in a transaction 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 transaction, the chief accounting officer now directly owns 2,685 shares of the company’s stock, valued at $1,170,203.55. The trade was 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 this link. Also, Director Amy Banse sold 606 shares of the 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 sale, the director now directly owns 32,929 shares of the company’s stock, valued at $18,110,950. The trade was a 1.81 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,681 shares of company stock worth $2,525,126. 0.15% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms recently weighed in on ADBE. TD Cowen lowered shares of Adobe from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $625.00 to $550.00 in a research note on Thursday, December 12th. Royal Bank of Canada restated an “outperform” rating and set a $590.00 target price on shares of Adobe in a report on Thursday, February 13th. BNP Paribas upgraded shares of Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 price target 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, UBS Group reduced their target price on shares of Adobe from $525.00 to $475.00 and set a “neutral” rating for the company in a report on Friday, January 3rd. One equities 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 issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $570.88.

Adobe Price Performance

Shares of NASDAQ:ADBE opened at $444.42 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. The stock has a market cap of $193.46 billion, a PE ratio of 35.84, a PEG ratio of 2.15 and a beta of 1.31. The company’s fifty day moving average is $440.12 and its 200 day moving average is $493.28. Adobe Inc. has a 52 week low of $403.75 and a 52 week high of $587.75.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, topping the consensus estimate of $4.67 by $0.14. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The firm had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $5.54 billion. During the same quarter in the previous year, the business earned $3.52 earnings per share. The company’s quarterly revenue was up 11.1% on a year-over-year basis. Research analysts anticipate that Adobe Inc. will post 16.65 earnings per share 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.