Adobe Inc. (NASDAQ:ADBE) Shares Acquired by Tectonic Advisors LLC

Tectonic Advisors LLC raised its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 12.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,712 shares of the software company’s stock after purchasing an additional 650 shares during the period. Tectonic Advisors LLC’s holdings in Adobe were worth $2,540,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Lion Street Advisors LLC grew its position in Adobe by 20.4% during the 4th quarter. Lion Street Advisors LLC now owns 520 shares of the software company’s stock worth $231,000 after acquiring an additional 88 shares during the last quarter. Country Club Bank grew its holdings in shares of Adobe by 5.5% during the 4th quarter. Country Club Bank now owns 3,298 shares of the software company’s stock valued at $1,470,000 after purchasing an additional 171 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Adobe by 3.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 141,275 shares of the software company’s stock worth $63,061,000 after purchasing an additional 4,846 shares during the period. Jericho Financial LLP purchased a new position in Adobe in the 4th quarter worth approximately $376,000. Finally, Lockheed Martin Investment Management Co. grew its position in shares of Adobe by 13.4% during the 4th quarter. Lockheed Martin Investment Management Co. now owns 19,350 shares of the software company’s stock valued at $8,605,000 after acquiring an additional 2,290 shares during the period. 81.79% of the stock is owned by institutional investors.

Adobe Trading Up 0.4 %

NASDAQ:ADBE opened at $440.23 on Wednesday. Adobe Inc. has a 52 week low of $403.75 and a 52 week high of $634.59. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29. The company has a market cap of $191.63 billion, a PE ratio of 35.50, a P/E/G ratio of 2.12 and a beta of 1.31. The business’s 50 day moving average is $458.66 and its two-hundred day moving average is $501.38.

Adobe (NASDAQ:ADBE) last posted its earnings results 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 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%. Adobe’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.52 earnings per share. On average, analysts predict that Adobe Inc. will post 16.65 EPS for the current year.

Insider Activity

In other news, Director David A. Ricks purchased 2,250 shares of the company’s stock in a transaction dated Tuesday, January 28th. The stock was acquired at an average price of $443.98 per share, with a total value of $998,955.00. Following the purchase, the director now directly owns 4,984 shares in the company, valued at approximately $2,212,796.32. This represents a 82.30 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Amy Banse sold 606 shares of Adobe stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $550.00, for a total value of $333,300.00. Following the sale, the director now directly 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 disclosure for this sale can be found here. Insiders have 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.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Mizuho dropped their target price on Adobe from $640.00 to $620.00 and set an “outperform” rating on the stock in a research report on Thursday, December 12th. BMO Capital Markets cut their price objective on shares of Adobe from $600.00 to $570.00 and set an “outperform” rating for the company in a research report on Thursday, December 12th. StockNews.com upgraded Adobe from a “buy” rating to a “strong-buy” rating in a report on Tuesday, January 28th. Jefferies Financial Group reduced their price target on shares of Adobe from $700.00 to $650.00 and set a “buy” rating for the company in a report on Thursday, December 12th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $475.00 price objective (down from $600.00) on shares of Adobe in a research note on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $573.00.

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.