Hunter Associates Investment Management LLC Trims Stake in Adobe Inc. (NASDAQ:ADBE)

Hunter Associates Investment Management LLC lowered its stake in Adobe Inc. (NASDAQ:ADBEFree Report) by 3.0% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 641 shares of the software company’s stock after selling 20 shares during the quarter. Hunter Associates Investment Management LLC’s holdings in Adobe were worth $327,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Norges Bank bought a new position in shares of Adobe in the fourth quarter worth approximately $1,757,029,000. Capital Research Global Investors lifted its stake in shares of Adobe by 4,186.1% during the 2nd quarter. Capital Research Global Investors now owns 3,859,163 shares of the software company’s stock valued at $1,887,092,000 after buying an additional 3,769,125 shares in the last quarter. Moneta Group Investment Advisors LLC lifted its stake in shares of Adobe by 115,991.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 3,248,225 shares of the software company’s stock valued at $1,093,125,000 after buying an additional 3,245,427 shares in the last quarter. Concentrum Wealth Management boosted its holdings in Adobe by 17,006.8% in the 3rd quarter. Concentrum Wealth Management now owns 2,161,614 shares of the software company’s stock worth $1,102,207,000 after buying an additional 2,148,978 shares during the period. Finally, Morgan Stanley increased its stake in Adobe by 17.7% in the 4th quarter. Morgan Stanley now owns 9,804,275 shares of the software company’s stock worth $3,299,433,000 after buying an additional 1,471,861 shares in the last quarter. 80.00% of the stock is owned by hedge funds and other institutional investors.

Adobe Trading Up 0.3 %

Shares of NASDAQ ADBE opened at $628.78 on Monday. Adobe Inc. has a fifty-two week low of $318.60 and a fifty-two week high of $638.25. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.34 and a current ratio of 1.34. The company has a market cap of $284.21 billion, a price-to-earnings ratio of 53.11, a PEG ratio of 3.30 and a beta of 1.34. The business’s 50 day moving average price is $603.28 and its 200-day moving average price is $567.70.

Adobe (NASDAQ:ADBEGet Free Report) last released its earnings results on Wednesday, December 13th. The software company reported $4.27 earnings per share for the quarter, topping analysts’ consensus estimates of $4.13 by $0.14. The business had revenue of $5.05 billion for the quarter, compared to analyst estimates of $5.01 billion. Adobe had a return on equity of 38.30% and a net margin of 27.97%. The business’s revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the firm posted $2.78 earnings per share. On average, sell-side analysts expect that Adobe Inc. will post 14.6 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Barclays raised Adobe from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $680.00 to $700.00 in a research note on Monday, December 18th. DA Davidson upgraded Adobe from a “neutral” rating to a “buy” rating and upped their price target for the stock from $500.00 to $640.00 in a research note on Thursday, October 26th. Citigroup lifted their price objective on shares of Adobe from $610.00 to $675.00 and gave the company a “neutral” rating in a research report on Tuesday, December 12th. Stifel Nicolaus boosted their target price on shares of Adobe from $600.00 to $625.00 and gave the stock a “buy” rating in a report on Thursday, December 14th. Finally, BNP Paribas cut shares of Adobe from a “neutral” rating to an “underperform” rating and set a $499.00 target price for the company. in a research note on Thursday, January 18th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have issued a buy rating to the company’s stock. According to MarketBeat.com, Adobe presently has a consensus rating of “Moderate Buy” and an average target price of $613.14.

View Our Latest Research Report on ADBE

Insider Activity at Adobe

In related news, CAO Mark S. Garfield sold 84 shares of the business’s stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $591.99, for a total value of $49,727.16. Following the completion of the sale, the chief accounting officer now owns 4,055 shares in the company, valued at $2,400,519.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Mark S. Garfield sold 84 shares of Adobe stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $591.99, for a total value of $49,727.16. Following the completion of the sale, the chief accounting officer now directly owns 4,055 shares in the company, valued at $2,400,519.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David Wadhwani sold 6,099 shares of the company’s stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $571.77, for a total transaction of $3,487,225.23. Following the completion of the sale, the insider now directly owns 7,614 shares of the company’s stock, valued at $4,353,456.78. The disclosure for this sale can be found here. Insiders sold 44,425 shares of company stock worth $26,431,673 in the last 90 days. 0.24% of the stock is owned by corporate insiders.

Adobe Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Adobe (NASDAQ:ADBE)

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