Adobe Inc. (NASDAQ:ADBE) Shares Bought by Bogart Wealth LLC

Bogart Wealth LLC raised its stake in Adobe Inc. (NASDAQ:ADBE) by 8.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,981 shares of the software company’s stock after acquiring an additional 1,043 shares during the quarter. Bogart Wealth LLC’s holdings in Adobe were worth $6,217,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. IMS Capital Management raised its holdings in shares of Adobe by 2.7% in the fourth quarter. IMS Capital Management now owns 2,915 shares of the software company’s stock worth $1,296,000 after acquiring an additional 76 shares during the last quarter. Investment Partners Asset Management Inc. raised its holdings in shares of Adobe by 17.8% in the fourth quarter. Investment Partners Asset Management Inc. now owns 715 shares of the software company’s stock worth $318,000 after acquiring an additional 108 shares during the last quarter. Hudock Inc. raised its holdings in shares of Adobe by 75.5% in the fourth quarter. Hudock Inc. now owns 1,146 shares of the software company’s stock worth $510,000 after acquiring an additional 493 shares during the last quarter. Sawgrass Asset Management LLC raised its holdings in shares of Adobe by 0.3% in the fourth quarter. Sawgrass Asset Management LLC now owns 29,811 shares of the software company’s stock worth $13,256,000 after acquiring an additional 90 shares during the last quarter. Finally, Stanley Laman Group Ltd. raised its holdings in shares of Adobe by 87.2% in the fourth quarter. Stanley Laman Group Ltd. now owns 777 shares of the software company’s stock worth $346,000 after acquiring an additional 362 shares during the last quarter. 81.79% of the stock is owned by institutional investors and hedge funds.

Adobe Stock Down 0.8 %

Shares of Adobe stock opened at $459.22 on Friday. Adobe Inc. has a 1-year low of $403.75 and a 1-year high of $610.33. The company has a market capitalization of $199.90 billion, a PE ratio of 37.03, a P/E/G ratio of 2.11 and a beta of 1.31. 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 business has a 50-day moving average of $449.99 and a 200-day moving average of $497.68.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings data 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 firm had revenue of $5.61 billion during the quarter, compared to analyst estimates of $5.54 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. Adobe’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the firm earned $3.52 EPS. As a group, equities analysts forecast that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Insider Activity at Adobe

In related news, EVP Scott Belsky sold 922 shares of the business’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $437.28, for a total value of $403,172.16. Following the completion of the sale, the executive vice president now directly owns 22,153 shares of the company’s stock, valued at $9,687,063.84. The trade was a 4.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Amy Banse sold 606 shares of Adobe stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $550.00, for a total value of $333,300.00. Following the completion of the transaction, the director now owns 32,929 shares of the company’s stock, valued at approximately $18,110,950. The trade was a 1.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,681 shares of company stock valued at $2,525,126 over the last ninety days. Corporate insiders own 0.15% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on ADBE shares. Oppenheimer lowered their price objective on Adobe from $625.00 to $600.00 and set an “outperform” rating for the company in a research report on Thursday, December 12th. BNP Paribas raised Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 price objective for the company in a research report on Wednesday, January 15th. Barclays lowered their price objective on Adobe from $675.00 to $645.00 and set an “overweight” rating for the company in a research report on Thursday, December 12th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $475.00 price objective (down previously from $600.00) on shares of Adobe in a research report on Wednesday, January 8th. Finally, Citigroup lowered their price objective on Adobe from $616.00 to $590.00 and set a “neutral” rating for the company in a research report on Monday, December 9th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $573.00.

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.