Sage Capital Advisors llc Buys 57 Shares of Adobe Inc. (NASDAQ:ADBE)

Sage Capital Advisors llc grew its position in Adobe Inc. (NASDAQ:ADBE) by 1.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,865 shares of the software company’s stock after purchasing an additional 57 shares during the quarter. Sage Capital Advisors llc’s holdings in Adobe were worth $2,608,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Quest Partners LLC increased its position in Adobe by 23.3% in the 2nd quarter. Quest Partners LLC now owns 588 shares of the software company’s stock worth $327,000 after buying an additional 111 shares during the period. LPL Financial LLC grew its position in Adobe by 2.6% in the 2nd quarter. LPL Financial LLC now owns 425,440 shares of the software company’s stock worth $236,349,000 after purchasing an additional 10,613 shares during the last quarter. American Century Companies Inc. raised its position in shares of Adobe by 7.5% during the second quarter. American Century Companies Inc. now owns 382,397 shares of the software company’s stock valued at $212,437,000 after buying an additional 26,619 shares during the last quarter. Achmea Investment Management B.V. lifted its stake in shares of Adobe by 5.2% in the second quarter. Achmea Investment Management B.V. now owns 62,815 shares of the software company’s stock valued at $34,896,000 after buying an additional 3,115 shares during the period. Finally, Johnson Investment Counsel Inc. grew its position in Adobe by 12.0% during the second quarter. Johnson Investment Counsel Inc. now owns 144,261 shares of the software company’s stock worth $80,143,000 after buying an additional 15,459 shares in the last quarter. 81.79% of the stock is owned by institutional investors.

Adobe Trading Down 2.4 %

Adobe stock traded down $10.27 during trading hours on Friday, reaching $409.31. 3,210,799 shares of the company’s stock traded hands, compared to its average volume of 3,795,653. The firm has a market capitalization of $180.18 billion, a price-to-earnings ratio of 33.01, a PEG ratio of 2.51 and a beta of 1.31. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.11 and a current ratio of 1.11. Adobe Inc. has a fifty-two week low of $405.32 and a fifty-two week high of $638.25. The firm’s 50 day moving average is $485.54 and its 200-day moving average is $517.97.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.67 by $0.14. The firm had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.54 billion. Adobe had a net margin of 25.85% and a return on equity of 45.22%. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period last year, the firm earned $3.52 earnings per share. On average, analysts predict that Adobe Inc. will post 16.73 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Amy Banse sold 606 shares of the firm’s stock in a transaction dated 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 owns 32,929 shares of the company’s stock, valued at $18,110,950. This trade represents 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, EVP Scott Belsky sold 481 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $483.42, for a total value of $232,525.02. Following the completion of the transaction, the executive vice president now owns 18,128 shares of the company’s stock, valued at $8,763,437.76. This represents a 2.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,293 shares of company stock worth $1,679,809. Insiders own 0.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Mizuho cut their price target on Adobe from $640.00 to $620.00 and set an “outperform” rating for the company in a report on Thursday, December 12th. Stifel Nicolaus decreased their price target on shares of Adobe from $650.00 to $600.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $475.00 price objective (down previously from $600.00) on shares of Adobe in a research note on Wednesday. Jefferies Financial Group lowered their target price on shares of Adobe from $700.00 to $650.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. Finally, Citigroup cut their price target on shares of Adobe from $616.00 to $590.00 and set a “neutral” rating for the company in a research note on Monday, December 9th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Adobe presently has a consensus rating of “Moderate Buy” and an average price target of $575.85.

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.