Adobe Inc. (NASDAQ:ADBE) Shares Acquired by Alliance Wealth Advisors LLC

Alliance Wealth Advisors LLC lifted its stake in Adobe Inc. (NASDAQ:ADBE) by 21.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 474 shares of the software company’s stock after acquiring an additional 84 shares during the quarter. Alliance Wealth Advisors LLC’s holdings in Adobe were worth $211,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in ADBE. Birch Hill Investment Advisors LLC raised its position in Adobe by 17.8% in the fourth quarter. Birch Hill Investment Advisors LLC now owns 49,736 shares of the software company’s stock valued at $22,117,000 after purchasing an additional 7,532 shares during the period. AlphaStar Capital Management LLC grew its stake in shares of Adobe by 15.3% in the fourth quarter. AlphaStar Capital Management LLC now owns 3,819 shares of the software company’s stock valued at $1,698,000 after buying an additional 507 shares in the last quarter. Stoneridge Investment Partners LLC raised its holdings in shares of Adobe by 21.6% in the 4th quarter. Stoneridge Investment Partners LLC now owns 8,553 shares of the software company’s stock valued at $3,803,000 after buying an additional 1,518 shares during the period. Thompson Investment Management Inc. lifted its stake in Adobe by 50.8% during the 4th quarter. Thompson Investment Management Inc. now owns 14,486 shares of the software company’s stock worth $6,442,000 after acquiring an additional 4,882 shares in the last quarter. Finally, Entropy Technologies LP boosted its holdings in Adobe by 68.8% during the 4th quarter. Entropy Technologies LP now owns 28,011 shares of the software company’s stock valued at $12,456,000 after acquiring an additional 11,415 shares during the period. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Insider Buying and Selling

In other Adobe news, Director Amy Banse sold 606 shares of the business’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 owns 32,929 shares in the company, valued at approximately $18,110,950. The trade was a 1.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Jillian Forusz sold 334 shares of the company’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total value of $145,567.22. Following the transaction, the chief accounting officer now directly owns 2,685 shares in the company, valued at $1,170,203.55. This represents a 11.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,681 shares of company stock valued at $2,525,126 over the last three months. 0.15% of the stock is currently owned by company insiders.

Adobe Stock Down 0.5 %

ADBE stock opened at $433.07 on Friday. Adobe Inc. has a 12 month low of $403.75 and a 12 month high of $628.07. 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 company has a market cap of $188.52 billion, a price-to-earnings ratio of 34.93, a price-to-earnings-growth ratio of 2.11 and a beta of 1.31. The company has a fifty day moving average price of $453.92 and a 200 day moving average price of $499.63.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts’ expectations of $5.54 billion. During the same quarter in the previous year, the firm posted $3.52 EPS. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. Sell-side analysts expect that Adobe Inc. will post 16.65 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ADBE. TD Cowen cut shares of Adobe from a “buy” rating to a “hold” rating and reduced their price target for the stock from $625.00 to $550.00 in a research report on Thursday, December 12th. BNP Paribas upgraded shares of Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 target price on the stock in a report on Wednesday, January 15th. StockNews.com upgraded shares of Adobe from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, January 28th. Stifel Nicolaus reduced their price objective on Adobe from $650.00 to $600.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. Finally, Mizuho lowered their target price on Adobe from $640.00 to $620.00 and set an “outperform” rating for the company in a research note on Thursday, December 12th. One analyst has rated the stock with a sell rating, ten have given a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Adobe has an average rating of “Moderate Buy” and an average price target of $573.00.

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.