Ridgewood Investments LLC acquired a new stake in shares of Adobe Inc (NASDAQ:ADBE) in the fourth quarter, Holdings Channel reports. The firm acquired 608 shares of the software company’s stock, valued at approximately $201,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in ADBE. JJJ Advisors Inc. bought a new stake in Adobe during the 3rd quarter valued at about $28,000. Hexavest Inc. lifted its holdings in Adobe by 58.2% during the 3rd quarter. Hexavest Inc. now owns 106 shares of the software company’s stock valued at $29,000 after buying an additional 39 shares in the last quarter. Venturi Wealth Management LLC bought a new stake in Adobe during the 3rd quarter valued at about $35,000. Marquette Asset Management LLC lifted its holdings in Adobe by 57.8% during the 3rd quarter. Marquette Asset Management LLC now owns 142 shares of the software company’s stock valued at $39,000 after buying an additional 52 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. lifted its holdings in Adobe by 2.5% during the 3rd quarter. Candriam Luxembourg S.C.A. now owns 147,304 shares of the software company’s stock valued at $41,000 after buying an additional 3,575 shares in the last quarter. Institutional investors own 84.84% of the company’s stock.
NASDAQ:ADBE opened at $342.94 on Thursday. Adobe Inc has a one year low of $237.26 and a one year high of $347.27. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.74 and a current ratio of 0.79. The firm has a market cap of $166.83 billion, a P/E ratio of 52.28, a P/E/G ratio of 2.65 and a beta of 1.11. The firm has a 50-day simple moving average of $323.24 and a 200-day simple moving average of $296.87.
Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Thursday, December 12th. The software company reported $2.29 EPS for the quarter, topping the consensus estimate of $2.26 by $0.03. The firm had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.97 billion. Adobe had a net margin of 26.42% and a return on equity of 31.47%. Adobe’s revenue was up 21.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.83 EPS. On average, research analysts predict that Adobe Inc will post 8.02 EPS for the current fiscal year.
A number of equities research analysts recently weighed in on ADBE shares. Barclays reiterated a “neutral” rating and set a $330.00 price objective on shares of Adobe in a report on Monday, December 16th. Stifel Nicolaus lifted their price objective on shares of Adobe from $325.00 to $350.00 and gave the company a “buy” rating in a report on Friday, December 13th. Royal Bank of Canada lifted their price objective on shares of Adobe to $345.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. ValuEngine lowered shares of Adobe from a “hold” rating to a “sell” rating in a report on Monday, November 4th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Adobe from $329.00 to $318.00 and set a “neutral” rating for the company in a report on Wednesday, September 18th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and seventeen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $331.96.
In related news, CMO Ann Lewnes sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $300.54, for a total transaction of $901,620.00. Following the completion of the transaction, the chief marketing officer now owns 45,528 shares in the company, valued at approximately $13,682,985.12. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Charles M. Geschke sold 16,764 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $332.00, for a total transaction of $5,565,648.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 37,312 shares of company stock valued at $12,297,624. 0.32% of the stock is currently owned by company insiders.
Adobe Inc operates as a diversified software company worldwide. Its Digital Media segment provides tools and solutions that enable individuals, small and medium businesses, and enterprises to create, publish, promote, and monetize their digital content. Its flagship product is Creative Cloud, a subscription service that allows customer to download and access the latest versions of its creative products.
Featured Article: How To Calculate Debt-to-Equity Ratio
Want to see what other hedge funds are holding ADBE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Adobe Inc (NASDAQ:ADBE).
Receive News & Ratings for Adobe Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adobe and related companies with MarketBeat.com's FREE daily email newsletter.