Private Wealth Partners LLC Grows Stock Position in Adobe Inc. (NASDAQ:ADBE)

Private Wealth Partners LLC raised its position in Adobe Inc. (NASDAQ:ADBE) by 12.0% in the 4th quarter, Holdings Channel reports. The fund owned 50,449 shares of the software company’s stock after purchasing an additional 5,393 shares during the period. Adobe accounts for 1.7% of Private Wealth Partners LLC’s holdings, making the stock its 18th biggest holding. Private Wealth Partners LLC’s holdings in Adobe were worth $22,434,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in ADBE. International Assets Investment Management LLC boosted its stake in shares of Adobe by 66,909.7% during the 3rd quarter. International Assets Investment Management LLC now owns 1,378,390 shares of the software company’s stock valued at $713,703,000 after buying an additional 1,376,333 shares during the last quarter. FMR LLC boosted its stake in Adobe by 8.8% during the 3rd quarter. FMR LLC now owns 9,690,163 shares of the software company’s stock valued at $5,017,373,000 after acquiring an additional 787,356 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in Adobe by 42.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,168,584 shares of the software company’s stock worth $519,646,000 after acquiring an additional 347,536 shares in the last quarter. Seilern Investment Management Ltd bought a new stake in shares of Adobe in the 4th quarter worth about $110,744,000. Finally, Erste Asset Management GmbH acquired a new stake in shares of Adobe in the 3rd quarter valued at about $126,703,000. 81.79% of the stock is owned by institutional investors and hedge funds.

Adobe Trading Down 1.5 %

Adobe stock opened at $456.99 on Thursday. Adobe Inc. has a 12-month low of $403.75 and a 12-month high of $587.75. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. The stock has a market capitalization of $198.93 billion, a PE ratio of 36.85, a price-to-earnings-growth ratio of 2.23 and a beta of 1.31. The firm has a 50 day simple moving average of $441.28 and a 200-day simple moving average of $494.89.

Adobe (NASDAQ:ADBE) last issued its quarterly 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. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The company had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.54 billion. During the same period last year, the firm earned $3.52 EPS. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. As a group, equities research analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Royal Bank of Canada reissued an “outperform” rating and issued a $590.00 price objective on shares of Adobe in a report on Thursday, February 13th. Stifel Nicolaus lowered their price target on Adobe from $650.00 to $600.00 and set a “buy” rating for the company in a report on Thursday, December 12th. Sanford C. Bernstein reduced their price objective on Adobe from $644.00 to $587.00 and set an “outperform” rating on the stock in a research note on Thursday, December 12th. StockNews.com raised shares of Adobe from a “buy” rating to a “strong-buy” rating in a report on Tuesday, January 28th. Finally, Barclays reduced their price target on shares of Adobe from $675.00 to $645.00 and set an “overweight” rating on the stock in a research report on Thursday, December 12th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $570.88.

Insiders Place Their Bets

In other Adobe news, Director Amy Banse sold 606 shares of the company’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $550.00, for a total value of $333,300.00. Following the transaction, the director now owns 32,929 shares of the company’s stock, valued at approximately $18,110,950. This represents a 1.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Scott Belsky sold 3,819 shares of the stock in a transaction on Monday, January 27th. The shares were sold at an average price of $430.24, for a total value of $1,643,086.56. Following the sale, the executive vice president now owns 18,334 shares of the company’s stock, valued at $7,888,020.16. This trade represents a 17.24 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,681 shares of company stock worth $2,525,126. 0.15% of the stock is owned by corporate insiders.

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.