Consolidated Portfolio Review Corp Boosts Stock Position in Adobe Inc. (NASDAQ:ADBE)

Consolidated Portfolio Review Corp increased its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 779.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,728 shares of the software company’s stock after buying an additional 5,077 shares during the period. Consolidated Portfolio Review Corp’s holdings in Adobe were worth $2,547,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Glassy Mountain Advisors Inc. raised its stake in Adobe by 1.6% in the 4th quarter. Glassy Mountain Advisors Inc. now owns 12,625 shares of the software company’s stock valued at $5,614,000 after purchasing an additional 194 shares during the last quarter. Telos Capital Management Inc. acquired a new stake in shares of Adobe in the fourth quarter valued at about $3,754,000. Oakworth Capital Inc. lifted its stake in shares of Adobe by 9.4% in the fourth quarter. Oakworth Capital Inc. now owns 1,142 shares of the software company’s stock worth $508,000 after buying an additional 98 shares in the last quarter. State of Alaska Department of Revenue boosted its position in Adobe by 7.8% during the fourth quarter. State of Alaska Department of Revenue now owns 63,097 shares of the software company’s stock worth $28,057,000 after acquiring an additional 4,547 shares during the last quarter. Finally, Caitlin John LLC raised its holdings in Adobe by 171.4% in the 4th quarter. Caitlin John LLC now owns 76 shares of the software company’s stock valued at $34,000 after acquiring an additional 48 shares during the last quarter. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Adobe Price Performance

Adobe stock opened at $435.40 on Friday. The stock has a market cap of $189.53 billion, a P/E ratio of 35.11, a price-to-earnings-growth ratio of 2.12 and a beta of 1.31. The company has a fifty day simple moving average of $457.14 and a 200-day simple moving average of $500.93. 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 12-month low of $403.75 and a 12-month high of $628.07.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, beating analysts’ consensus estimates of $4.67 by $0.14. The business had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $5.54 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.52 EPS. Equities analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ADBE shares. BMO Capital Markets lowered their target price on Adobe from $600.00 to $570.00 and set an “outperform” rating on the stock in a report on Thursday, December 12th. Citigroup dropped their target price on Adobe from $616.00 to $590.00 and set a “neutral” rating for the company in a report on Monday, December 9th. BNP Paribas upgraded Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 price target on the stock in a report on Wednesday, January 15th. Barclays dropped their price objective on shares of Adobe from $675.00 to $645.00 and set an “overweight” rating for the company in a report on Thursday, December 12th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $475.00 target price (down from $600.00) on shares of Adobe in a report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Adobe has a consensus rating of “Moderate Buy” and a consensus target price of $573.00.

Insider Transactions at Adobe

In other Adobe news, Director Amy Banse sold 606 shares of the firm’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $550.00, for a total transaction of $333,300.00. Following the transaction, the director now directly owns 32,929 shares of the company’s stock, valued at approximately $18,110,950. This trade represents a 1.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Jillian Forusz sold 334 shares of the company’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $435.83, for a total transaction of $145,567.22. Following the completion of the sale, the chief accounting officer now directly owns 2,685 shares of the company’s stock, valued at $1,170,203.55. The trade was a 11.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,681 shares of company stock worth $2,525,126. 0.15% of the stock is currently owned by insiders.

Adobe Company 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.