New Amsterdam Partners LLC NY lowered its stake in Adobe Inc (NASDAQ:ADBE) by 20.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,422 shares of the software company’s stock after selling 360 shares during the quarter. New Amsterdam Partners LLC NY’s holdings in Adobe were worth $322,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of the stock. Pinnacle Financial Partners Inc. lifted its holdings in Adobe by 8.4% in the fourth quarter. Pinnacle Financial Partners Inc. now owns 3,145 shares of the software company’s stock worth $711,000 after purchasing an additional 243 shares during the period. BB&T Securities LLC lifted its holdings in Adobe by 8.4% in the fourth quarter. BB&T Securities LLC now owns 18,372 shares of the software company’s stock worth $4,156,000 after purchasing an additional 1,427 shares during the period. Securian Asset Management Inc lifted its holdings in Adobe by 0.5% in the fourth quarter. Securian Asset Management Inc now owns 50,711 shares of the software company’s stock worth $11,473,000 after purchasing an additional 252 shares during the period. Camden National Bank lifted its holdings in Adobe by 5.1% in the fourth quarter. Camden National Bank now owns 32,170 shares of the software company’s stock worth $7,278,000 after purchasing an additional 1,553 shares during the period. Finally, Arrow Financial Corp lifted its holdings in Adobe by 10.0% in the fourth quarter. Arrow Financial Corp now owns 5,019 shares of the software company’s stock worth $1,136,000 after purchasing an additional 455 shares during the period. 92.64% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts have commented on the stock. BidaskClub upgraded shares of Adobe from a “hold” rating to a “buy” rating in a research report on Friday, January 11th. Zacks Investment Research cut shares of Adobe from a “buy” rating to a “hold” rating in a research report on Tuesday, December 11th. BMO Capital Markets boosted their price target on shares of Adobe from $295.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, December 14th. ValuEngine upgraded shares of Adobe from a “hold” rating to a “buy” rating in a research report on Tuesday, January 15th. Finally, Credit Suisse Group reiterated a “buy” rating and issued a $300.00 price target on shares of Adobe in a research report on Friday, January 25th. Nine research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. Adobe has a consensus rating of “Buy” and a consensus price target of $284.62.
In other Adobe news, Chairman Shantanu Narayen sold 139,834 shares of the business’s stock in a transaction dated Friday, January 25th. The stock was sold at an average price of $245.40, for a total transaction of $34,315,263.60. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Ann Lewnes sold 2,955 shares of the business’s stock in a transaction dated Wednesday, November 21st. The stock was sold at an average price of $225.38, for a total value of $665,997.90. Following the sale, the executive vice president now owns 52,692 shares in the company, valued at approximately $11,875,722.96. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 282,299 shares of company stock worth $68,899,256. Corporate insiders own 0.33% of the company’s stock.
NASDAQ ADBE opened at $257.00 on Monday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.13 and a current ratio of 1.13. The stock has a market cap of $125.35 billion, a price-to-earnings ratio of 46.31, a P/E/G ratio of 2.52 and a beta of 1.15. Adobe Inc has a 1 year low of $179.34 and a 1 year high of $277.61.
Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Thursday, December 13th. The software company reported $1.83 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.88 by ($0.05). The company had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.43 billion. Adobe had a return on equity of 31.19% and a net margin of 28.69%. Adobe’s quarterly revenue was up 20.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.26 EPS. On average, sell-side analysts expect that Adobe Inc will post 6.21 earnings per share for the current year.
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Adobe Inc operates as a diversified software company worldwide. Its Digital Media segment provides tools and solutions that enable individuals, small and medium businesses, and enterprises to create, publish, promote, and monetize their digital content. Its flagship product is Creative Cloud, a subscription service that allows customer to download and access the latest versions of its creative products.
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