1,115 Shares in Adobe Inc. (NASDAQ:ADBE) Bought by YANKCOM Partnership

YANKCOM Partnership bought a new stake in Adobe Inc. (NASDAQ:ADBE) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,115 shares of the software company’s stock, valued at approximately $496,000.

Other hedge funds also recently bought and sold shares of the company. NovaPoint Capital LLC lifted its stake in Adobe by 4.0% in the fourth quarter. NovaPoint Capital LLC now owns 1,560 shares of the software company’s stock valued at $694,000 after acquiring an additional 60 shares during the last quarter. Trilogy Capital Inc. raised its holdings in shares of Adobe by 47.4% during the 4th quarter. Trilogy Capital Inc. now owns 4,918 shares of the software company’s stock valued at $2,187,000 after purchasing an additional 1,582 shares in the last quarter. Absher Wealth Management LLC lifted its stake in shares of Adobe by 74.3% in the 4th quarter. Absher Wealth Management LLC now owns 4,393 shares of the software company’s stock valued at $1,953,000 after purchasing an additional 1,872 shares during the last quarter. Choreo LLC lifted its stake in shares of Adobe by 3.3% in the 4th quarter. Choreo LLC now owns 17,201 shares of the software company’s stock valued at $7,663,000 after purchasing an additional 554 shares during the last quarter. Finally, Tectonic Advisors LLC boosted its holdings in Adobe by 12.8% in the fourth quarter. Tectonic Advisors LLC now owns 5,712 shares of the software company’s stock worth $2,540,000 after purchasing an additional 650 shares in the last quarter. 81.79% of the stock is owned by institutional investors and hedge funds.

Adobe Price Performance

Shares of Adobe stock opened at $437.63 on Thursday. The firm has a market cap of $190.50 billion, a P/E ratio of 35.29, a price-to-earnings-growth ratio of 2.12 and a beta of 1.31. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07. Adobe Inc. has a twelve month low of $403.75 and a twelve month high of $628.07. The firm’s 50-day simple moving average is $458.66 and its 200-day simple moving average is $501.38.

Adobe (NASDAQ:ADBE) last issued its earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.67 by $0.14. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The business had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.54 billion. During the same period in the prior year, the firm posted $3.52 EPS. Adobe’s quarterly revenue was up 11.1% compared to the same quarter last year. As a group, research analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ADBE. BMO Capital Markets reduced their price target on Adobe from $600.00 to $570.00 and set an “outperform” rating for the company in a research report on Thursday, December 12th. Citigroup reduced their target price on Adobe from $616.00 to $590.00 and set a “neutral” rating for the company in a report on Monday, December 9th. DA Davidson lowered their price target on Adobe from $685.00 to $625.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. BNP Paribas raised shares of Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 price target on the stock in a research report on Wednesday, January 15th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $475.00 price objective (down from $600.00) on shares of Adobe in a report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, ten have given a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $573.00.

Insider Activity

In other news, EVP Scott Belsky sold 922 shares of the stock in a transaction on Friday, January 24th. The stock was sold at an average price of $437.28, for a total transaction of $403,172.16. Following the sale, the executive vice president now owns 22,153 shares in the company, valued at approximately $9,687,063.84. This represents a 4.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Amy Banse sold 606 shares of the firm’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $550.00, for a total value of $333,300.00. Following the completion of the sale, the director now owns 32,929 shares of the company’s stock, valued at approximately $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 quarter, insiders have sold 5,681 shares of company stock worth $2,525,126. Corporate insiders own 0.15% of the company’s stock.

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.