Capital Investment Advisors LLC Has $2.82 Million Position in Adobe Inc. (NASDAQ:ADBE)

Capital Investment Advisors LLC lowered its stake in Adobe Inc. (NASDAQ:ADBE) by 0.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,351 shares of the software company’s stock after selling 27 shares during the quarter. Capital Investment Advisors LLC’s holdings in Adobe were worth $2,824,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of ADBE. Redwood Wealth Management Group LLC raised its position in Adobe by 3.0% during the second quarter. Redwood Wealth Management Group LLC now owns 795 shares of the software company’s stock worth $442,000 after acquiring an additional 23 shares in the last quarter. Brown Brothers Harriman & Co. raised its holdings in shares of Adobe by 21.3% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 445,458 shares of the software company’s stock valued at $247,470,000 after purchasing an additional 78,080 shares during the period. Fairfield Financial Advisors LTD acquired a new stake in Adobe in the 2nd quarter valued at about $165,000. Angeles Investment Advisors LLC grew its holdings in Adobe by 62.0% during the second quarter. Angeles Investment Advisors LLC now owns 2,526 shares of the software company’s stock worth $1,403,000 after purchasing an additional 967 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in Adobe by 12.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,702,535 shares of the software company’s stock worth $945,780,000 after buying an additional 185,737 shares during the last quarter. Institutional investors own 81.79% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Scott Belsky sold 481 shares of the firm’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $483.42, for a total transaction of $232,525.02. Following the completion of the sale, the executive vice president now directly owns 18,128 shares of the company’s stock, valued at $8,763,437.76. This trade represents a 2.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Amy Banse sold 606 shares of the business’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $550.00, for a total transaction of $333,300.00. Following the completion of the transaction, the director now directly 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 1,763 shares of company stock valued at $893,665. Corporate insiders own 0.15% of the company’s stock.

Wall Street Analysts Forecast Growth

ADBE has been the subject of a number of recent analyst reports. UBS Group cut their price objective on Adobe from $525.00 to $475.00 and set a “neutral” rating for the company in a research report on Friday, January 3rd. Royal Bank of Canada dropped their price objective on shares of Adobe from $610.00 to $590.00 and set an “outperform” rating on the stock in a research report on Thursday, December 12th. Barclays reduced their target price on shares of Adobe from $675.00 to $645.00 and set an “overweight” rating for the company in a report on Thursday, December 12th. Stifel Nicolaus lowered their price target on shares of Adobe from $650.00 to $600.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Finally, DA Davidson reduced their price objective on Adobe from $685.00 to $625.00 and set a “buy” rating for the company in a report on Thursday, December 12th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $575.85.

Adobe Trading Up 0.6 %

ADBE opened at $408.50 on Tuesday. Adobe Inc. has a fifty-two week low of $403.75 and a fifty-two week high of $638.25. The firm has a market capitalization of $179.82 billion, a PE ratio of 32.94, a P/E/G ratio of 2.51 and a beta of 1.31. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.11 and a quick ratio of 1.11. The company’s 50-day moving average is $482.55 and its 200 day moving average is $516.02.

Adobe (NASDAQ:ADBE) last announced its 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 analysts’ expectations of $5.54 billion. Adobe had a return on equity of 45.22% and a net margin of 25.85%. Adobe’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.52 earnings per share. As a group, research analysts predict that Adobe Inc. will post 16.73 earnings per share for the current fiscal year.

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.