US Bancorp DE Boosts Stake in Adobe Inc. (NASDAQ:ADBE)

US Bancorp DE lifted its holdings in Adobe Inc. (NASDAQ:ADBE) by 22.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 306,519 shares of the software company’s stock after buying an additional 55,582 shares during the quarter. US Bancorp DE owned 0.07% of Adobe worth $136,303,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of ADBE. Swedbank AB boosted its stake in shares of Adobe by 0.3% in the third quarter. Swedbank AB now owns 1,196,175 shares of the software company’s stock valued at $619,355,000 after buying an additional 3,739 shares in the last quarter. JFS Wealth Advisors LLC raised its holdings in Adobe by 586.4% during the third quarter. JFS Wealth Advisors LLC now owns 1,057 shares of the software company’s stock worth $547,000 after purchasing an additional 903 shares during the last quarter. Financial Advocates Investment Management raised its holdings in Adobe by 2.2% during the third quarter. Financial Advocates Investment Management now owns 3,214 shares of the software company’s stock worth $1,664,000 after purchasing an additional 68 shares during the last quarter. PineStone Asset Management Inc. raised its holdings in Adobe by 0.9% during the third quarter. PineStone Asset Management Inc. now owns 278,363 shares of the software company’s stock worth $144,131,000 after purchasing an additional 2,400 shares during the last quarter. Finally, LCM Capital Management Inc raised its holdings in Adobe by 1.3% during the third quarter. LCM Capital Management Inc now owns 2,699 shares of the software company’s stock worth $1,397,000 after purchasing an additional 34 shares during the last quarter. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ADBE. Royal Bank of Canada reaffirmed an “outperform” rating and set a $590.00 price objective on shares of Adobe in a report on Thursday, February 13th. Redburn Atlantic began coverage on Adobe in a report on Wednesday, February 19th. They set a “neutral” rating for the company. DA Davidson reduced their price objective on Adobe from $685.00 to $625.00 and set a “buy” rating for the company in a report on Thursday, December 12th. JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a report on Thursday, December 12th. Finally, UBS Group reduced their price objective on Adobe from $525.00 to $475.00 and set a “neutral” rating for the company in a report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, seventeen have assigned a buy rating and one has assigned 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 $570.88.

Insider Buying and Selling at Adobe

In other Adobe news, Director Amy Banse sold 606 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $550.00, for a total transaction of $333,300.00. Following the sale, the director now owns 32,929 shares in the company, valued at $18,110,950. This represents a 1.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Jillian Forusz sold 334 shares of the stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total value of $145,567.22. Following the sale, the chief accounting officer now owns 2,685 shares in the company, valued at $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. Insiders have sold 5,681 shares of company stock worth $2,525,126 over the last quarter. 0.15% of the stock is owned by corporate insiders.

Adobe Trading Up 0.3 %

NASDAQ:ADBE opened at $438.49 on Friday. 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 $587.75. The business’s 50-day simple moving average is $439.71 and its 200 day simple moving average is $491.24. The stock has a market cap of $190.87 billion, a price-to-earnings ratio of 35.36, a price-to-earnings-growth ratio of 2.15 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 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 in the previous year, the firm posted $3.52 earnings per share. The company’s revenue was up 11.1% compared to the same quarter last year. As a group, sell-side analysts predict that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Adobe Company 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.