Metis Global Partners LLC Raises Position in Adobe Inc. (NASDAQ:ADBE)

Metis Global Partners LLC raised its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 0.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,961 shares of the software company’s stock after acquiring an additional 234 shares during the quarter. Metis Global Partners LLC’s holdings in Adobe were worth $11,989,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Legacy Investment Solutions LLC purchased a new position in shares of Adobe during the 3rd quarter worth $26,000. MidAtlantic Capital Management Inc. purchased a new position in shares of Adobe during the 3rd quarter valued at $30,000. True Wealth Design LLC lifted its stake in shares of Adobe by 141.7% during the 3rd quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock valued at $30,000 after buying an additional 34 shares in the last quarter. Briaud Financial Planning Inc purchased a new position in shares of Adobe during the 3rd quarter valued at $36,000. Finally, Decker Retirement Planning Inc. purchased a new position in shares of Adobe during the 4th quarter valued at $31,000. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Insider Buying and Selling at Adobe

In other Adobe news, EVP Scott Belsky sold 3,819 shares of the business’s stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 18,334 shares of the company’s stock, valued at $7,888,020.16. The trade was a 17.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Amy Banse sold 606 shares of the company’s 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 completion of the sale, the director now directly owns 32,929 shares of the company’s stock, valued at $18,110,950. The trade was a 1.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,681 shares of company stock valued at $2,525,126 in the last three months. Company insiders own 0.15% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on ADBE. Barclays lowered their target price on shares of Adobe from $675.00 to $645.00 and set an “overweight” rating on the stock in a research note on Thursday, December 12th. UBS Group lowered their target price on shares of Adobe from $525.00 to $475.00 and set a “neutral” rating on the stock in a research note on Friday, January 3rd. Mizuho lowered their target price on shares of Adobe from $640.00 to $620.00 and set an “outperform” rating on the stock in a research note on Thursday, December 12th. BMO Capital Markets reduced their price target on shares of Adobe from $570.00 to $515.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. Finally, Bank of America reduced their price target on shares of Adobe from $640.00 to $605.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $570.88.

Adobe Stock Performance

Shares of NASDAQ:ADBE opened at $438.49 on Friday. The company has a market capitalization of $190.87 billion, a price-to-earnings ratio of 35.36, a PEG ratio of 2.15 and a beta of 1.31. Adobe Inc. has a 12 month low of $403.75 and a 12 month high of $587.75. The firm’s 50-day moving average is $439.71 and its 200 day moving average is $491.24. 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 (NASDAQ:ADBE) last released its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $5.54 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the company earned $3.52 EPS. Research analysts predict that Adobe Inc. will post 16.65 EPS for the current year.

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.