J.W. Cole Advisors Inc. Buys 99 Shares of Adobe Inc. (NASDAQ:ADBE)

J.W. Cole Advisors Inc. grew its holdings in Adobe Inc. (NASDAQ:ADBE) by 1.9% in the fourth quarter, HoldingsChannel reports. The fund owned 5,283 shares of the software company’s stock after buying an additional 99 shares during the period. J.W. Cole Advisors Inc.’s holdings in Adobe were worth $2,349,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently made changes to their positions in ADBE. Legacy Investment Solutions LLC acquired a new position in shares of Adobe during the 3rd quarter worth $26,000. Groupama Asset Managment raised its stake in Adobe by 28.8% during the third quarter. Groupama Asset Managment now owns 51,482 shares of the software company’s stock worth $27,000 after acquiring an additional 11,522 shares in the last quarter. MidAtlantic Capital Management Inc. bought a new position in shares of Adobe in the third quarter worth about $30,000. True Wealth Design LLC boosted its stake in shares of Adobe by 141.7% in the 3rd quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock valued at $30,000 after purchasing an additional 34 shares in the last quarter. Finally, Decker Retirement Planning Inc. bought a new stake in shares of Adobe during the 4th quarter valued at approximately $31,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on ADBE. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $475.00 target price (down previously from $600.00) on shares of Adobe in a research report on Wednesday, January 8th. Barclays reduced their price objective on Adobe from $675.00 to $645.00 and set an “overweight” rating on the stock in a research report on Thursday, December 12th. BMO Capital Markets dropped their target price on Adobe from $600.00 to $570.00 and set an “outperform” rating for the company in a research report on Thursday, December 12th. TD Cowen downgraded Adobe from a “buy” rating to a “hold” rating and lowered their price objective for the company from $625.00 to $550.00 in a research note on Thursday, December 12th. Finally, StockNews.com upgraded shares of Adobe from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, ten have given a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Adobe presently has a consensus rating of “Moderate Buy” and a consensus target price of $573.00.

Insider Transactions at Adobe

In other news, Director David A. Ricks purchased 2,250 shares of the company’s stock in a transaction dated Tuesday, January 28th. The shares were purchased at an average price of $443.98 per share, with a total value of $998,955.00. Following the transaction, the director now directly owns 4,984 shares of the company’s stock, valued at approximately $2,212,796.32. This represents a 82.30 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Scott Belsky sold 3,819 shares of the business’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $430.24, for a total value of $1,643,086.56. Following the completion of the sale, the executive vice president now owns 18,334 shares in the company, valued at $7,888,020.16. This represents a 17.24 % 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 worth $2,525,126 in the last 90 days. Insiders own 0.15% of the company’s stock.

Adobe Trading Up 0.2 %

NASDAQ ADBE opened at $460.16 on Monday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29. The business has a fifty day simple moving average of $446.56 and a 200 day simple moving average of $496.59. Adobe Inc. has a 12 month low of $403.75 and a 12 month high of $607.32. The firm has a market capitalization of $200.31 billion, a P/E ratio of 37.11, a PEG ratio of 2.11 and a beta of 1.31.

Adobe (NASDAQ:ADBE) last released 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. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The company had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.54 billion. During the same period last year, the firm earned $3.52 earnings per share. The firm’s revenue was up 11.1% on a year-over-year basis. On average, analysts predict that Adobe Inc. will post 16.65 EPS for the current fiscal year.

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.