Adobe Inc. (NASDAQ:ADBE) Shares Acquired by Northstar Group Inc.

Northstar Group Inc. boosted its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 2.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,139 shares of the software company’s stock after purchasing an additional 25 shares during the quarter. Northstar Group Inc.’s holdings in Adobe were worth $506,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Platform Technology Partners grew its holdings in Adobe by 6.0% during the 4th quarter. Platform Technology Partners now owns 672 shares of the software company’s stock worth $299,000 after acquiring an additional 38 shares in the last quarter. Harvey Investment Co. LLC acquired a new stake in shares of Adobe during the 4th quarter worth about $2,833,000. Golden State Wealth Management LLC purchased a new stake in Adobe during the fourth quarter worth approximately $229,000. Archer Investment Corp increased its stake in Adobe by 11.1% in the fourth quarter. Archer Investment Corp now owns 1,978 shares of the software company’s stock valued at $880,000 after purchasing an additional 198 shares during the last quarter. Finally, Live Oak Private Wealth LLC raised its holdings in Adobe by 12.2% during the fourth quarter. Live Oak Private Wealth LLC now owns 552 shares of the software company’s stock worth $245,000 after purchasing an additional 60 shares in the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Adobe Stock Down 0.5 %

ADBE opened at $433.07 on Friday. Adobe Inc. has a 12 month low of $403.75 and a 12 month high of $628.07. The business has a 50-day moving average of $455.58 and a two-hundred day moving average of $500.48. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. The stock has a market capitalization of $188.52 billion, a price-to-earnings ratio of 34.93, a price-to-earnings-growth ratio of 2.12 and a beta of 1.31.

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

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ADBE. BMO Capital Markets reduced their price target 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. JMP Securities reiterated a “market perform” rating on shares of Adobe in a research note on Thursday, December 12th. Stifel Nicolaus cut their target price on shares of Adobe from $650.00 to $600.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. StockNews.com raised shares of Adobe from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, January 28th. Finally, Royal Bank of Canada cut their price objective on shares of Adobe from $610.00 to $590.00 and set an “outperform” rating for the company in a research report on Thursday, December 12th. One equities 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. According to data from MarketBeat.com, Adobe has an average rating of “Moderate Buy” and an average target price of $573.00.

Insider Activity at Adobe

In other news, EVP Scott Belsky sold 3,819 shares of the business’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $430.24, for a total transaction of $1,643,086.56. Following the transaction, the executive vice president now directly owns 18,334 shares of the company’s stock, valued at approximately $7,888,020.16. The trade was a 17.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Jillian Forusz sold 334 shares of the firm’s stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $435.83, for a total transaction of $145,567.22. Following the sale, the chief accounting officer now directly owns 2,685 shares of the company’s stock, valued at approximately $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. Over the last quarter, insiders have sold 5,681 shares of company stock worth $2,525,126. Company insiders own 0.15% of the company’s stock.

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.