B.O.S.S. Retirement Advisors LLC Grows Holdings in Adobe Inc. (NASDAQ:ADBE)

B.O.S.S. Retirement Advisors LLC increased its position in shares of Adobe Inc. (NASDAQ:ADBE) by 71.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 879 shares of the software company’s stock after purchasing an additional 366 shares during the quarter. B.O.S.S. Retirement Advisors LLC’s holdings in Adobe were worth $391,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. State Street Corp lifted its stake in Adobe by 1.2% during the third quarter. State Street Corp now owns 20,270,287 shares of the software company’s stock worth $10,495,544,000 after purchasing an additional 234,909 shares during the last quarter. Geode Capital Management LLC increased its position in Adobe by 1.4% in the third quarter. Geode Capital Management LLC now owns 10,529,089 shares of the software company’s stock worth $5,435,377,000 after buying an additional 147,981 shares during the period. FMR LLC increased its position in Adobe by 8.8% in the third quarter. FMR LLC now owns 9,690,163 shares of the software company’s stock worth $5,017,373,000 after buying an additional 787,356 shares during the period. Fisher Asset Management LLC increased its position in Adobe by 2.0% in the third quarter. Fisher Asset Management LLC now owns 4,859,584 shares of the software company’s stock worth $2,516,196,000 after buying an additional 93,143 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Adobe by 3.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,741,549 shares of the software company’s stock worth $2,455,079,000 after buying an additional 140,390 shares during the period. 81.79% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Adobe

In other news, CAO Jillian Forusz sold 676 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $484.97, for a total transaction of $327,839.72. Following the transaction, the chief accounting officer now directly owns 2,715 shares of the company’s stock, valued at approximately $1,316,693.55. This trade represents a 19.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Amy Banse sold 606 shares of the firm’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 transaction, the director now directly 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 disclosure for this sale can be found here. Company insiders own 0.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. StockNews.com lowered Adobe from a “strong-buy” rating to a “buy” rating in a report on Monday, January 20th. BMO Capital Markets lowered their price target on Adobe from $600.00 to $570.00 and set an “outperform” rating on the stock in a report on Thursday, December 12th. Stifel Nicolaus lowered their price target on Adobe from $650.00 to $600.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Bank of America lowered their price target on Adobe from $640.00 to $605.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Finally, BNP Paribas raised Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 price target on the stock in a report on Wednesday, January 15th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $573.00.

Adobe Price Performance

Shares of ADBE stock opened at $435.38 on Friday. The stock’s fifty day moving average is $468.14 and its 200-day moving average is $508.06. 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 52 week low of $403.75 and a 52 week high of $638.25. The stock has a market capitalization of $189.52 billion, a PE ratio of 35.11, a PEG ratio of 2.12 and a beta of 1.31.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.67 by $0.14. The firm had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.54 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period last year, the firm earned $3.52 earnings per share. Equities research analysts expect that Adobe Inc. will post 16.65 EPS 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.