Philip James Wealth Mangement LLC Grows Position in Adobe Inc. (NASDAQ:ADBE)

Philip James Wealth Mangement LLC raised its position in shares of Adobe Inc. (NASDAQ:ADBE) by 14.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 464 shares of the software company’s stock after purchasing an additional 58 shares during the quarter. Philip James Wealth Mangement LLC’s holdings in Adobe were worth $206,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Capital Performance Advisors LLP boosted its holdings in shares of Adobe by 282.4% in the 4th quarter. Capital Performance Advisors LLP now owns 761 shares of the software company’s stock worth $338,000 after purchasing an additional 562 shares during the period. Sierra Ocean LLC purchased a new position in shares of Adobe in the 4th quarter worth approximately $121,000. Meridiem Investment Management Ltd. boosted its holdings in shares of Adobe by 1.3% in the 4th quarter. Meridiem Investment Management Ltd. now owns 212,801 shares of the software company’s stock worth $94,641,000 after purchasing an additional 2,829 shares during the period. Pinnacle Wealth Management Advisory Group LLC boosted its holdings in shares of Adobe by 7.3% in the 4th quarter. Pinnacle Wealth Management Advisory Group LLC now owns 6,210 shares of the software company’s stock worth $2,761,000 after purchasing an additional 421 shares during the period. Finally, J.W. Cole Advisors Inc. boosted its holdings in shares of Adobe by 1.9% in the 4th quarter. J.W. Cole Advisors Inc. now owns 5,283 shares of the software company’s stock worth $2,349,000 after purchasing an additional 99 shares during the period. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Insider Transactions at Adobe

In related news, CAO Jillian Forusz sold 334 shares of the business’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total transaction of $145,567.22. Following the transaction, the chief accounting officer now directly owns 2,685 shares in the company, valued at $1,170,203.55. The trade was a 11.06 % decrease in their position. 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 the business’s stock in a transaction 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 transaction, the director now owns 32,929 shares in the company, valued at approximately $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. In the last three months, insiders sold 5,681 shares of company stock valued at $2,525,126. Corporate insiders own 0.15% of the company’s stock.

Adobe Trading Up 0.2 %

ADBE opened at $460.16 on Monday. The firm has a market cap of $200.31 billion, a price-to-earnings ratio of 37.11, a PEG ratio of 2.11 and a beta of 1.31. 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 $607.32. The stock has a fifty day moving average price of $446.56 and a 200-day moving average price of $496.59.

Adobe (NASDAQ:ADBE) last released its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, topping the consensus estimate 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%. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the previous year, the company posted $3.52 EPS. As a group, equities research analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ADBE. Mizuho dropped their target price on Adobe from $640.00 to $620.00 and set an “outperform” rating for the company in a 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. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $475.00 price objective (down previously from $600.00) on shares of Adobe in a report on Wednesday, January 8th. Jefferies Financial Group dropped their price objective on Adobe from $700.00 to $650.00 and set a “buy” rating for the company in a report on Thursday, December 12th. Finally, Wells Fargo & Company dropped their price objective on Adobe from $700.00 to $640.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Adobe has a consensus rating of “Moderate Buy” and a consensus target price 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.