Adobe Inc. (NASDAQ:ADBE) Shares Acquired by Greenfield Savings Bank

Greenfield Savings Bank grew its position in Adobe Inc. (NASDAQ:ADBE) by 10.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,308 shares of the software company’s stock after acquiring an additional 124 shares during the quarter. Greenfield Savings Bank’s holdings in Adobe were worth $582,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. International Assets Investment Management LLC grew its holdings in Adobe by 66,909.7% during the third quarter. International Assets Investment Management LLC now owns 1,378,390 shares of the software company’s stock worth $713,703,000 after acquiring an additional 1,376,333 shares during the period. Longview Partners Guernsey LTD purchased a new position in shares of Adobe in the 2nd quarter valued at about $663,745,000. FMR LLC lifted its stake in shares of Adobe by 8.8% in the third quarter. FMR LLC now owns 9,690,163 shares of the software company’s stock valued at $5,017,373,000 after purchasing an additional 787,356 shares during the period. Mercer Global Advisors Inc. ADV boosted its holdings in Adobe by 982.4% during the second quarter. Mercer Global Advisors Inc. ADV now owns 541,670 shares of the software company’s stock worth $300,919,000 after buying an additional 491,627 shares in the last quarter. Finally, Erste Asset Management GmbH purchased a new position in Adobe in the third quarter valued at about $126,703,000. 81.79% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Scott Belsky sold 481 shares of the firm’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $483.42, for a total value of $232,525.02. Following the completion of the sale, the executive vice president now owns 18,128 shares of the company’s stock, valued at $8,763,437.76. This trade represents a 2.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Jillian Forusz sold 676 shares of the stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $484.97, for a total value of $327,839.72. Following the completion of the transaction, the chief accounting officer now owns 2,715 shares in the company, valued at $1,316,693.55. This represents a 19.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,763 shares of company stock valued at $893,665 over the last quarter. Corporate insiders own 0.15% of the company’s stock.

Adobe Stock Up 0.6 %

Shares of NASDAQ:ADBE opened at $408.50 on Tuesday. Adobe Inc. has a 1-year low of $403.75 and a 1-year high of $638.25. The company’s fifty day moving average is $482.55 and its two-hundred day moving average is $516.02. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a market capitalization of $179.82 billion, a price-to-earnings ratio of 32.94, a price-to-earnings-growth ratio of 2.51 and a beta of 1.31.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 earnings per share for the quarter, topping the consensus estimate of $4.67 by $0.14. Adobe had a net margin of 25.85% and a return on equity of 45.22%. The business had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.54 billion. During the same quarter in the prior year, the company posted $3.52 earnings per share. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. Equities analysts anticipate that Adobe Inc. will post 16.73 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently weighed in on ADBE. BMO Capital Markets dropped their price objective on Adobe from $600.00 to $570.00 and set an “outperform” rating for the company in a research note on Thursday, December 12th. Citigroup cut their price target on Adobe from $616.00 to $590.00 and set a “neutral” rating for the company in a research note on Monday, December 9th. StockNews.com raised shares of Adobe from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 18th. UBS Group reduced their price target on shares of Adobe from $525.00 to $475.00 and set a “neutral” rating on the stock in a report on Friday, January 3rd. Finally, Royal Bank of Canada dropped their price objective on shares of Adobe from $610.00 to $590.00 and set an “outperform” rating for the company in a research note on Thursday, December 12th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Adobe currently has a consensus rating of “Moderate Buy” and a consensus price target of $575.85.

Adobe 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.