Caitlin John LLC Has $34,000 Stake in Adobe Inc. (NASDAQ:ADBE)

Caitlin John LLC increased its position in Adobe Inc. (NASDAQ:ADBE) by 171.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 76 shares of the software company’s stock after purchasing an additional 48 shares during the period. Caitlin John LLC’s holdings in Adobe were worth $34,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC acquired a new position in Adobe in the 3rd quarter worth approximately $26,000. Piscataqua Savings Bank lifted its position in Adobe by 226.7% in the 3rd quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock worth $25,000 after buying an additional 34 shares in the last quarter. MidAtlantic Capital Management Inc. purchased a new stake in Adobe in the 3rd quarter worth approximately $30,000. True Wealth Design LLC lifted its position in Adobe by 141.7% in the 3rd quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock worth $30,000 after buying an additional 34 shares in the last quarter. Finally, Briaud Financial Planning Inc purchased a new stake in Adobe in the 3rd quarter worth approximately $36,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Insider Activity

In other news, CAO Jillian Forusz sold 334 shares of Adobe stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $435.83, for a total transaction of $145,567.22. Following the sale, the chief accounting officer now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Amy Banse sold 606 shares of Adobe stock in a transaction dated Friday, December 6th. The shares were 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 of the company’s stock, 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. In the last three months, insiders have sold 5,681 shares of company stock worth $2,525,126. Corporate insiders own 0.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ADBE shares. Stifel Nicolaus cut their target price on shares of Adobe from $650.00 to $600.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. Mizuho cut their target price on shares of Adobe from $640.00 to $620.00 and set an “outperform” rating for the company in a research report on Thursday, December 12th. Wells Fargo & Company cut their target price on shares of Adobe from $700.00 to $640.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. DA Davidson cut their price target on shares of Adobe from $685.00 to $625.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Finally, TD Cowen downgraded shares of Adobe from a “buy” rating to a “hold” rating and cut their price target for the company from $625.00 to $550.00 in a report on Thursday, December 12th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Adobe presently has a consensus rating of “Moderate Buy” and a consensus price target of $573.00.

Adobe Stock Performance

NASDAQ ADBE opened at $435.40 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. The firm has a market capitalization of $189.53 billion, a price-to-earnings ratio of 35.11, a P/E/G ratio of 2.12 and a beta of 1.31. The company’s fifty day moving average is $457.14 and its two-hundred day moving average is $500.93. Adobe Inc. has a 52-week low of $403.75 and a 52-week high of $628.07.

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