Motco Has $8.72 Million Holdings in Adobe Inc. (NASDAQ:ADBE)

Motco boosted its holdings in Adobe Inc. (NASDAQ:ADBE) by 0.4% during the 4th quarter, Holdings Channel.com reports. The fund owned 19,609 shares of the software company’s stock after purchasing an additional 69 shares during the quarter. Motco’s holdings in Adobe were worth $8,720,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Pettyjohn Wood & White Inc. boosted its holdings in Adobe by 0.5% during the 4th quarter. Pettyjohn Wood & White Inc. now owns 8,325 shares of the software company’s stock worth $3,702,000 after acquiring an additional 40 shares during the last quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych grew its position in Adobe by 29.0% in the 4th quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 14,216 shares of the software company’s stock worth $6,322,000 after purchasing an additional 3,200 shares in the last quarter. Peloton Wealth Strategists increased its stake in Adobe by 1.8% in the 4th quarter. Peloton Wealth Strategists now owns 4,167 shares of the software company’s stock valued at $1,853,000 after buying an additional 75 shares during the last quarter. Linscomb Wealth Inc. boosted its stake in shares of Adobe by 11.1% in the 4th quarter. Linscomb Wealth Inc. now owns 5,327 shares of the software company’s stock worth $2,369,000 after buying an additional 532 shares during the last quarter. Finally, QRG Capital Management Inc. grew its holdings in shares of Adobe by 1.9% in the fourth quarter. QRG Capital Management Inc. now owns 72,446 shares of the software company’s stock valued at $32,215,000 after acquiring an additional 1,375 shares in the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on ADBE shares. JMP Securities reiterated a “market perform” rating on shares of Adobe in a report on Thursday, December 12th. Sanford C. Bernstein cut their price target on shares of Adobe from $644.00 to $587.00 and set an “outperform” rating on the stock in a report on Thursday, December 12th. Citigroup reduced their price target on shares of Adobe from $616.00 to $590.00 and set a “neutral” rating for the company in a research report on Monday, December 9th. BMO Capital Markets lowered their price objective on shares of Adobe from $570.00 to $515.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $590.00 price target on shares of Adobe in a research report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $570.88.

Adobe Trading Down 1.0 %

NASDAQ ADBE opened at $437.19 on Friday. The stock has a 50-day moving average of $439.88 and a 200-day moving average of $491.88. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29. Adobe Inc. has a 1-year low of $403.75 and a 1-year high of $587.75. The firm has a market cap of $190.31 billion, a PE ratio of 35.26, a price-to-earnings-growth ratio of 2.15 and a beta of 1.31.

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

Insider Buying and Selling at Adobe

In related news, Director Amy Banse sold 606 shares of Adobe stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $550.00, for a total transaction of $333,300.00. Following the sale, the director now directly owns 32,929 shares in the company, valued at $18,110,950. The trade was a 1.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 value of $145,567.22. Following the completion of the transaction, the chief accounting officer now owns 2,685 shares of the company’s stock, valued at approximately $1,170,203.55. This trade represents a 11.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,681 shares of company stock valued at $2,525,126 in the last 90 days. 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.