Chicago Partners Investment Group LLC Has $1.37 Million Stake in Adobe Inc. (NASDAQ:ADBE)

Chicago Partners Investment Group LLC boosted its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 12.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,271 shares of the software company’s stock after acquiring an additional 369 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in Adobe were worth $1,373,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ADBE. Czech National Bank increased its holdings in Adobe by 5.8% during the 3rd quarter. Czech National Bank now owns 90,325 shares of the software company’s stock valued at $46,768,000 after purchasing an additional 4,954 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Adobe by 28.0% in the third quarter. GAMMA Investing LLC now owns 6,458 shares of the software company’s stock valued at $3,344,000 after buying an additional 1,412 shares in the last quarter. Diversified Trust Co raised its holdings in shares of Adobe by 10.8% in the third quarter. Diversified Trust Co now owns 6,446 shares of the software company’s stock valued at $3,338,000 after buying an additional 630 shares during the last quarter. Smith Anglin Financial LLC lifted its position in Adobe by 6.1% during the 3rd quarter. Smith Anglin Financial LLC now owns 657 shares of the software company’s stock worth $340,000 after buying an additional 38 shares in the last quarter. Finally, Consilio Wealth Advisors LLC grew its holdings in Adobe by 15.9% during the 3rd quarter. Consilio Wealth Advisors LLC now owns 539 shares of the software company’s stock worth $279,000 after acquiring an additional 74 shares during the last quarter. 81.79% of the stock is owned by institutional investors.

Adobe Trading Down 1.9 %

Shares of NASDAQ:ADBE opened at $437.45 on Monday. Adobe Inc. has a 12-month low of $403.75 and a 12-month high of $638.25. The business has a 50 day moving average of $461.97 and a 200-day moving average of $503.41. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29. The stock has a market cap of $190.42 billion, a PE ratio of 35.28, a P/E/G ratio of 2.14 and a beta of 1.31.

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

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ADBE. TD Cowen cut shares of Adobe from a “buy” rating to a “hold” rating and decreased their price target for the company from $625.00 to $550.00 in a research note on Thursday, December 12th. UBS Group lowered their target price on Adobe from $525.00 to $475.00 and set a “neutral” rating for the company in a research note on Friday, January 3rd. Barclays dropped their target price on Adobe from $675.00 to $645.00 and set an “overweight” rating for the company in a research report on Thursday, December 12th. Sanford C. Bernstein decreased their price target on Adobe from $644.00 to $587.00 and set an “outperform” rating on the stock in a report on Thursday, December 12th. Finally, Bank of America dropped their price objective on Adobe from $640.00 to $605.00 and set a “buy” rating for the company in a report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Adobe has an average rating of “Moderate Buy” and an average target price of $573.00.

Insiders Place Their Bets

In other Adobe news, Director Amy Banse sold 606 shares of the company’s stock in a transaction 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 completion of the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Jillian Forusz sold 334 shares of Adobe stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $435.83, for a total value of $145,567.22. Following the completion of the transaction, the chief accounting officer now owns 2,685 shares in the company, valued at approximately $1,170,203.55. The trade was a 11.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,681 shares of company stock worth $2,525,126 in the last quarter. 0.15% of the stock is currently owned by corporate insiders.

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.