Diversified Trust Co Increases Position in Adobe Inc. (NASDAQ:ADBE)

Diversified Trust Co grew its holdings in shares of Adobe Inc. (NASDAQ:ADBEFree Report) by 27.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 8,222 shares of the software company’s stock after purchasing an additional 1,776 shares during the period. Diversified Trust Co’s holdings in Adobe were worth $3,656,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Piscataqua Savings Bank increased its stake in Adobe by 226.7% during the 3rd quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock valued at $25,000 after purchasing an additional 34 shares in the last quarter. Legacy Investment Solutions LLC purchased a new stake in shares of Adobe during the third quarter valued at approximately $26,000. Groupama Asset Managment increased its position in shares of Adobe by 28.8% during the third quarter. Groupama Asset Managment now owns 51,482 shares of the software company’s stock valued at $27,000 after acquiring an additional 11,522 shares in the last quarter. MidAtlantic Capital Management Inc. purchased a new position in Adobe in the 3rd quarter worth approximately $30,000. Finally, True Wealth Design LLC lifted its position in 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 acquiring an additional 34 shares in the last quarter. 81.79% of the stock is owned by institutional investors.

Adobe Stock Down 2.0 %

Shares of ADBE stock opened at $422.63 on Wednesday. The company has a market capitalization of $186.04 billion, a price-to-earnings ratio of 34.08, a PEG ratio of 2.51 and a beta of 1.31. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.11 and a quick ratio of 1.11. The company’s fifty day moving average price is $488.06 and its 200-day moving average price is $519.35. Adobe Inc. has a one year low of $420.51 and a one year high of $638.25.

Adobe (NASDAQ:ADBEGet Free Report) last announced its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, beating the consensus estimate of $4.67 by $0.14. The business had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $5.54 billion. Adobe had a return on equity of 45.22% and a net margin of 25.85%. The business’s revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the business earned $3.52 earnings per share. Sell-side analysts expect that Adobe Inc. will post 16.73 EPS for the current fiscal year.

Insider Buying and Selling

In other Adobe news, Director Amy Banse sold 606 shares of the business’s 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 sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Scott Belsky sold 1,530 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $513.82, for a total value of $786,144.60. Following the transaction, the executive vice president now owns 18,831 shares of the company’s stock, valued at approximately $9,675,744.42. The trade was a 7.51 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,293 shares of company stock valued at $1,679,809. Corporate insiders own 0.15% of the company’s stock.

Wall Street Analysts Forecast Growth

ADBE has been the subject of a number of research analyst reports. BMO Capital Markets reduced their target price on Adobe from $600.00 to $570.00 and set an “outperform” rating for the company in a report on Thursday, December 12th. Mizuho decreased their target price on Adobe from $640.00 to $620.00 and set an “outperform” rating for the company in a research report on Thursday, December 12th. Morgan Stanley restated an “overweight” rating and set a $660.00 target price on shares of Adobe in a research note on Friday, September 13th. Bank of America reduced their price target on shares of Adobe from $640.00 to $605.00 and set a “buy” rating for the company 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 Wednesday, December 18th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $580.65.

Read Our Latest Report on ADBE

Adobe Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Adobe (NASDAQ:ADBE)

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