Postrock Partners LLC Makes New $239,000 Investment in Adobe Inc. (NASDAQ:ADBE)

Postrock Partners LLC bought a new stake in shares of Adobe Inc. (NASDAQ:ADBE) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 538 shares of the software company’s stock, valued at approximately $239,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Nordea Investment Management AB increased its holdings in Adobe by 2.0% in the 4th quarter. Nordea Investment Management AB now owns 1,712,616 shares of the software company’s stock worth $765,094,000 after acquiring an additional 33,414 shares in the last quarter. Arizona State Retirement System raised its position in shares of Adobe by 0.4% in the 4th quarter. Arizona State Retirement System now owns 127,696 shares of the software company’s stock worth $56,784,000 after acquiring an additional 570 shares in the last quarter. Public Sector Pension Investment Board lifted 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 acquiring an additional 2,100 shares during the last quarter. 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 worth $60,779,000 after acquiring an additional 78,384 shares during the last quarter. Finally, Morse Asset Management Inc raised its stake in Adobe by 33.0% in the 3rd quarter. Morse Asset Management Inc now owns 8,519 shares of the software company’s stock worth $4,411,000 after acquiring an additional 2,113 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on ADBE shares. Citigroup decreased their price objective on shares of Adobe from $551.00 to $490.00 and set a “neutral” rating on the stock in a report on Monday. BNP Paribas upgraded shares of Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 price target on the stock in a research note on Wednesday, January 15th. Sanford C. Bernstein lowered their price target on shares of Adobe from $644.00 to $587.00 and set an “outperform” rating for the company in a report on Thursday, December 12th. Jefferies Financial Group cut their target price on Adobe from $700.00 to $650.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Finally, TD Cowen cut Adobe from a “buy” rating to a “hold” rating and cut their price target for the stock from $625.00 to $550.00 in a research note on Thursday, December 12th. One 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $539.46.

Insider Transactions at Adobe

In related news, EVP Scott Belsky sold 922 shares of the stock in a transaction on Friday, January 24th. The shares were sold at an average price of $437.28, for a total value of $403,172.16. Following the transaction, the executive vice president now directly owns 22,153 shares of the company’s stock, valued at $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 is accessible through the SEC website. Also, CAO Jillian Forusz sold 334 shares of the business’s stock in a transaction dated Tuesday, January 28th. The shares were 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 in the company, valued at $1,170,203.55. This trade represents a 11.06 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,075 shares of company stock valued at $2,191,826. Corporate insiders own 0.15% of the company’s stock.

Adobe Stock Down 13.9 %

Shares of Adobe stock opened at $377.84 on Friday. The stock has a market cap of $164.51 billion, a price-to-earnings ratio of 30.47, a PEG ratio of 2.15 and a beta of 1.37. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. Adobe Inc. has a 1 year low of $374.50 and a 1 year high of $587.75. The firm’s 50-day moving average is $437.74 and its two-hundred day moving average is $483.80.

Adobe (NASDAQ:ADBE) last released its earnings results on Wednesday, March 12th. The software company reported $5.08 EPS for the quarter, topping analysts’ consensus estimates of $4.97 by $0.11. The firm had revenue of $5.71 billion during the quarter, compared to the consensus estimate of $5.66 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. During the same quarter in the previous year, the company posted $4.48 earnings per share. As a group, research analysts expect that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

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.