Adobe Inc. (NASDAQ:ADBE) Shares Acquired by Kovack Advisors Inc.

Kovack Advisors Inc. raised its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 56.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,342 shares of the software company’s stock after acquiring an additional 1,211 shares during the period. Kovack Advisors Inc.’s holdings in Adobe were worth $1,486,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in ADBE. Swedbank AB increased its position in shares of Adobe by 0.3% during the third quarter. Swedbank AB now owns 1,196,175 shares of the software company’s stock valued at $619,355,000 after acquiring an additional 3,739 shares during the last quarter. Hunter Associates Investment Management LLC boosted its stake in shares of Adobe by 28.9% in the third quarter. Hunter Associates Investment Management LLC now owns 891 shares of the software company’s stock valued at $463,000 after purchasing an additional 200 shares during the period. Cantor Fitzgerald Investment Advisors L.P. purchased a new position in shares of Adobe in the third quarter valued at approximately $435,000. Fortitude Family Office LLC boosted its stake in shares of Adobe by 31.1% in the third quarter. Fortitude Family Office LLC now owns 173 shares of the software company’s stock valued at $90,000 after purchasing an additional 41 shares during the period. Finally, Integrated Advisors Network LLC boosted its stake in shares of Adobe by 34.6% in the third quarter. Integrated Advisors Network LLC now owns 5,927 shares of the software company’s stock valued at $3,069,000 after purchasing an additional 1,522 shares during the period. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ADBE has been the subject of several recent research reports. BNP Paribas raised shares of Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 price objective for the company in a research note on Wednesday, January 15th. Royal Bank of Canada reissued an “outperform” rating and issued a $590.00 price objective on shares of Adobe in a research note on Thursday, February 13th. Redburn Atlantic assumed coverage on shares of Adobe in a research note on Wednesday, February 19th. They issued a “neutral” rating for the company. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $475.00 price target (down previously from $600.00) on shares of Adobe in a research note on Wednesday, January 8th. Finally, Jefferies Financial Group decreased their price target on shares of Adobe from $700.00 to $650.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Adobe currently has an average rating of “Moderate Buy” and an average target price of $570.88.

Insider Buying and Selling at Adobe

In other Adobe news, CAO Jillian Forusz sold 334 shares of the business’s 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 transaction, the chief accounting officer now directly owns 2,685 shares of the company’s stock, valued at approximately $1,170,203.55. The trade was a 11.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Amy Banse sold 606 shares of the business’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $550.00, for a total transaction of $333,300.00. Following the completion of 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. In the last three months, insiders have sold 5,681 shares of company stock valued at $2,525,126. 0.15% of the stock is owned by company insiders.

Adobe Stock Performance

Shares of Adobe stock opened at $441.50 on Thursday. 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 stock has a market capitalization of $192.18 billion, a price-to-earnings ratio of 35.60, a PEG ratio of 2.15 and a beta of 1.31. The firm’s fifty day simple moving average is $439.88 and its 200-day simple moving average is $492.27. Adobe Inc. has a 12 month low of $403.75 and a 12 month high of $587.75.

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 the consensus estimate of $4.67 by $0.14. The company 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%. Adobe’s revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the company posted $3.52 EPS. As a group, equities analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current year.

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.