Colony Group LLC raised its holdings in shares of Adobe Inc (NASDAQ:ADBE) by 0.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,324 shares of the software company’s stock after acquiring an additional 66 shares during the quarter. Colony Group LLC’s holdings in Adobe were worth $2,745,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Triangle Securities Wealth Management lifted its stake in shares of Adobe by 0.4% during the 4th quarter. Triangle Securities Wealth Management now owns 6,993 shares of the software company’s stock worth $2,306,000 after purchasing an additional 30 shares during the period. Coastal Investment Advisors Inc. lifted its position in Adobe by 4.3% during the fourth quarter. Coastal Investment Advisors Inc. now owns 726 shares of the software company’s stock worth $225,000 after buying an additional 30 shares during the period. Philadelphia Trust Co. lifted its position in Adobe by 1.3% during the fourth quarter. Philadelphia Trust Co. now owns 2,300 shares of the software company’s stock worth $759,000 after buying an additional 30 shares during the period. Pettyjohn Wood & White Inc. boosted its stake in Adobe by 0.4% in the 4th quarter. Pettyjohn Wood & White Inc. now owns 7,022 shares of the software company’s stock worth $2,316,000 after buying an additional 30 shares during the last quarter. Finally, Wealth Alliance Advisory Group LLC boosted its stake in Adobe by 3.3% in the 4th quarter. Wealth Alliance Advisory Group LLC now owns 967 shares of the software company’s stock worth $319,000 after buying an additional 31 shares during the last quarter. Institutional investors own 85.18% of the company’s stock.

Shares of Adobe stock opened at $305.91 on Thursday. Adobe Inc has a twelve month low of $255.13 and a twelve month high of $386.74. The stock has a market cap of $149.81 billion, a price-to-earnings ratio of 46.35, a price-to-earnings-growth ratio of 2.38 and a beta of 0.99. The company has a current ratio of 1.23, a quick ratio of 0.79 and a debt-to-equity ratio of 0.39. The company has a fifty day moving average price of $345.53 and a 200 day moving average price of $314.28.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings data on Thursday, March 12th. The software company reported $2.27 EPS for the quarter, topping the Zacks’ consensus estimate of $2.23 by $0.04. Adobe had a return on equity of 33.54% and a net margin of 27.72%. The company had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $3.05 billion. During the same quarter in the previous year, the firm posted $1.71 earnings per share. The firm’s quarterly revenue was up 18.8% on a year-over-year basis. Analysts forecast that Adobe Inc will post 8.02 earnings per share for the current year.

In other news, EVP Scott Belsky sold 600 shares of the stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $301.40, for a total value of $180,840.00. Following the completion of the sale, the executive vice president now owns 13,655 shares in the company, valued at $4,115,617. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John E. Warnock sold 1,600 shares of the stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $345.38, for a total value of $552,608.00. Following the completion of the sale, the director now owns 16,088 shares of the company’s stock, valued at approximately $5,556,473.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 56,445 shares of company stock valued at $19,174,961. Insiders own 0.31% of the company’s stock.

A number of research analysts have recently commented on ADBE shares. Wells Fargo & Co dropped their price objective on shares of Adobe from $345.00 to $315.00 and set an “equal weight” rating for the company in a research note on Friday, March 13th. UBS Group decreased their target price on shares of Adobe from $430.00 to $344.00 and set a “buy” rating on the stock in a research report on Friday, March 13th. Cowen boosted their target price on shares of Adobe from $315.00 to $325.00 and gave the company a “market perform” rating in a report on Friday, March 13th. Citigroup lowered their target price on shares of Adobe from $329.00 to $293.00 and set a “neutral” rating for the company in a report on Friday, March 13th. Finally, Credit Suisse Group lowered their target price on shares of Adobe from $385.00 to $370.00 and set an “outperform” rating for the company in a report on Friday, March 13th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $337.64.

About Adobe

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.

Further Reading: 52 Week Highs

Institutional Ownership by Quarter for Adobe (NASDAQ:ADBE)

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