Catalyst Capital Advisors LLC Raises Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

Catalyst Capital Advisors LLC grew its stake in Adobe Inc. (NASDAQ:ADBE) by 108.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,074 shares of the software company’s stock after buying an additional 558 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in Adobe were worth $478,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Connable Office Inc. boosted its position in shares of Adobe by 0.5% during the 3rd quarter. Connable Office Inc. now owns 3,732 shares of the software company’s stock worth $1,932,000 after acquiring an additional 20 shares in the last quarter. 1ST Source Bank boosted its position in shares of Adobe by 0.7% during the 3rd quarter. 1ST Source Bank now owns 2,889 shares of the software company’s stock worth $1,496,000 after acquiring an additional 20 shares in the last quarter. James J. Burns & Company LLC boosted its position in shares of Adobe by 5.6% during the 3rd quarter. James J. Burns & Company LLC now owns 415 shares of the software company’s stock worth $215,000 after acquiring an additional 22 shares in the last quarter. Holistic Financial Partners boosted its position in shares of Adobe by 6.0% during the 3rd quarter. Holistic Financial Partners now owns 387 shares of the software company’s stock worth $200,000 after acquiring an additional 22 shares in the last quarter. Finally, Latitude Advisors LLC boosted its position in shares of Adobe by 4.3% during the 3rd quarter. Latitude Advisors LLC now owns 555 shares of the software company’s stock worth $287,000 after acquiring an additional 23 shares in the last quarter. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Adobe Price Performance

Shares of NASDAQ:ADBE opened at $460.16 on Tuesday. The business’s fifty day moving average price is $446.56 and its two-hundred day moving average price is $496.20. The stock has a market cap of $200.31 billion, a PE ratio of 37.11, a price-to-earnings-growth ratio of 2.11 and a beta of 1.31. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07. Adobe Inc. has a one year low of $403.75 and a one year high of $607.32.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.67 by $0.14. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The business had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.54 billion. During the same quarter last year, the firm earned $3.52 earnings per share. The business’s revenue was up 11.1% on a year-over-year basis. On average, 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 3,819 shares of Adobe stock in a transaction on Monday, January 27th. The stock was sold at an average price of $430.24, for a total value of $1,643,086.56. Following the transaction, the executive vice president now owns 18,334 shares in the company, valued at approximately $7,888,020.16. This trade represents a 17.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Amy Banse sold 606 shares of Adobe stock in a transaction on Friday, December 6th. The shares were 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 in the company, valued at $18,110,950. The trade was a 1.81 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,681 shares of company stock worth $2,525,126. 0.15% of the stock is owned by insiders.

Wall Street Analyst Weigh In

ADBE has been the subject of a number of research analyst reports. Wells Fargo & Company decreased their target price on Adobe from $700.00 to $640.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Bank of America decreased their target price on Adobe from $640.00 to $605.00 and set a “buy” 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 target price for the company in a research report on Wednesday, January 15th. Stifel Nicolaus decreased their target price on Adobe from $650.00 to $600.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. Finally, UBS Group decreased their target price on Adobe from $525.00 to $475.00 and set a “neutral” rating for the company in a research report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Adobe presently has a consensus rating of “Moderate Buy” and an average target price of $573.00.

About Adobe

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.