Dynamic Advisor Solutions LLC Has $6.33 Million Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

Dynamic Advisor Solutions LLC lifted its holdings in Adobe Inc. (NASDAQ:ADBE) by 35.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,229 shares of the software company’s stock after acquiring an additional 3,715 shares during the period. Dynamic Advisor Solutions LLC’s holdings in Adobe were worth $6,328,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of ADBE. Piscataqua Savings Bank lifted its position in shares of Adobe by 226.7% during the third 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 3rd quarter worth approximately $26,000. Groupama Asset Managment increased its position in Adobe by 28.8% in the third quarter. Groupama Asset Managment now owns 51,482 shares of the software company’s stock worth $27,000 after buying an additional 11,522 shares during the last quarter. MidAtlantic Capital Management Inc. purchased a new position in shares of Adobe in the third quarter worth about $30,000. Finally, True Wealth Design LLC raised its holdings in Adobe by 141.7% during 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 during the period. 81.79% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on ADBE shares. TD Cowen lowered shares of Adobe from a “buy” rating to a “hold” rating and decreased their target price for the stock from $625.00 to $550.00 in a report on Thursday, December 12th. StockNews.com downgraded Adobe from a “strong-buy” rating to a “buy” rating in a research report on Monday, January 20th. JMP Securities reissued a “market perform” rating on shares of Adobe in a research note on Thursday, December 12th. BMO Capital Markets decreased their target price on Adobe from $600.00 to $570.00 and set an “outperform” rating on the stock in a research note on Thursday, December 12th. Finally, Wells Fargo & Company dropped their price target on Adobe from $700.00 to $640.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $573.00.

Adobe Price Performance

Shares of Adobe stock opened at $435.38 on Friday. The company’s fifty day simple moving average is $468.14 and its two-hundred day simple moving average is $508.06. Adobe Inc. has a 12-month low of $403.75 and a 12-month high of $638.25. The firm has a market cap of $189.52 billion, a PE ratio of 35.11, a price-to-earnings-growth ratio of 2.12 and a beta of 1.31. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results 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 company 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 45.87% and a net margin of 25.85%. Adobe’s revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.52 EPS. As a group, equities analysts expect that Adobe Inc. will post 16.65 EPS for the current year.

Insider Activity

In other Adobe news, CAO Jillian Forusz sold 676 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $484.97, for a total value of $327,839.72. Following the completion of the sale, the chief accounting officer now directly owns 2,715 shares in the company, valued at $1,316,693.55. This trade represents a 19.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Amy Banse sold 606 shares of Adobe stock in a transaction that occurred 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 directly owns 32,929 shares in the company, valued at approximately $18,110,950. The trade was a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.15% of the company’s stock.

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.