Weaver Capital Management LLC Boosts Stake in Adobe Inc. (NASDAQ:ADBE)

Weaver Capital Management LLC raised its holdings in Adobe Inc. (NASDAQ:ADBE) by 7.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,938 shares of the software company’s stock after acquiring an additional 324 shares during the period. Weaver Capital Management LLC’s holdings in Adobe were worth $2,196,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of ADBE. Nordea Investment Management AB boosted its stake in shares of Adobe by 2.0% in the 4th quarter. Nordea Investment Management AB now owns 1,712,616 shares of the software company’s stock valued at $765,094,000 after purchasing an additional 33,414 shares in the last quarter. Public Sector Pension Investment Board boosted its position in Adobe by 12.2% during the third quarter. Public Sector Pension Investment Board now owns 19,322 shares of the software company’s stock valued at $10,005,000 after buying an additional 2,100 shares during the period. Jacobs Levy Equity Management Inc. grew its stake in shares of Adobe by 201.0% during the third quarter. Jacobs Levy Equity Management Inc. now owns 117,383 shares of the software company’s stock valued at $60,779,000 after buying an additional 78,384 shares during the last quarter. Morse Asset Management Inc lifted its stake in shares of Adobe by 33.0% in the 3rd quarter. Morse Asset Management Inc now owns 8,519 shares of the software company’s stock valued at $4,411,000 after acquiring an additional 2,113 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in Adobe by 1.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 99,150 shares of the software company’s stock valued at $44,090,000 after acquiring an additional 1,326 shares during the period. Institutional investors own 81.79% of the company’s stock.

Adobe Trading Up 0.4 %

ADBE opened at $440.23 on Wednesday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29. The firm has a market cap of $191.63 billion, a price-to-earnings ratio of 35.50, a PEG ratio of 2.12 and a beta of 1.31. Adobe Inc. has a 12 month low of $403.75 and a 12 month high of $634.59. The stock has a fifty day moving average price of $460.36 and a 200-day moving average price of $502.16.

Adobe (NASDAQ:ADBE) last released its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, beating the consensus estimate of $4.67 by $0.14. The business had revenue of $5.61 billion during 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 quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the firm posted $3.52 earnings per share. As a group, equities research analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. StockNews.com raised shares of Adobe from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, January 28th. Jefferies Financial Group cut their price objective on Adobe from $700.00 to $650.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. BNP Paribas raised Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 target price for the company in a research report on Wednesday, January 15th. Sanford C. Bernstein lowered their target price on Adobe from $644.00 to $587.00 and set an “outperform” rating for the company in a research note on Thursday, December 12th. Finally, BMO Capital Markets decreased their price objective on Adobe from $600.00 to $570.00 and set an “outperform” rating for the company in a report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $573.00.

Insiders Place Their Bets

In other Adobe news, EVP Scott Belsky sold 922 shares of the firm’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $437.28, for a total transaction of $403,172.16. Following the completion of the transaction, the executive vice president now directly owns 22,153 shares of the company’s stock, valued at approximately $9,687,063.84. This trade represents a 4.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Jillian Forusz sold 334 shares of the stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total transaction of $145,567.22. Following the completion of the sale, the chief accounting officer now owns 2,685 shares in the company, valued at $1,170,203.55. The trade was a 11.06 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,681 shares of company stock valued at $2,525,126. Insiders own 0.15% of the company’s stock.

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.