GS Investments Inc. Has $3.35 Million Stock Position in Adobe Inc. (NASDAQ:ADBE)

GS Investments Inc. cut its holdings in Adobe Inc. (NASDAQ:ADBE) by 1.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,537 shares of the software company’s stock after selling 133 shares during the period. Adobe accounts for approximately 1.5% of GS Investments Inc.’s portfolio, making the stock its 27th biggest holding. GS Investments Inc.’s holdings in Adobe were worth $3,352,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Next Capital Management LLC lifted its stake in shares of Adobe by 38.2% in the fourth quarter. Next Capital Management LLC now owns 723 shares of the software company’s stock valued at $322,000 after buying an additional 200 shares during the period. First Financial Bankshares Inc raised its holdings in Adobe by 411.8% in the 4th quarter. First Financial Bankshares Inc now owns 39,390 shares of the software company’s stock valued at $17,516,000 after acquiring an additional 31,693 shares in the last quarter. Generali Investments Management Co LLC acquired a new stake in shares of Adobe during the 4th quarter worth approximately $3,025,000. GM Advisory Group LLC bought a new stake in shares of Adobe during the fourth quarter valued at approximately $355,000. Finally, Harvest Fund Management Co. Ltd raised its stake in shares of Adobe by 10.0% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 25,969 shares of the software company’s stock valued at $11,426,000 after purchasing an additional 2,359 shares in the last quarter. 81.79% of the stock is owned by institutional investors.

Adobe Price Performance

ADBE stock opened at $387.89 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. Adobe Inc. has a 1 year low of $374.50 and a 1 year high of $587.75. The firm has a 50-day moving average of $435.13 and a 200 day moving average of $478.38. The company has a market cap of $168.89 billion, a P/E ratio of 31.28, a PEG ratio of 2.15 and a beta of 1.37.

Adobe (NASDAQ:ADBE) last announced its earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share for the quarter, beating analysts’ consensus estimates of $4.97 by $0.11. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The business had revenue of $5.71 billion during the quarter, compared to the consensus estimate of $5.66 billion. During the same quarter last year, the firm earned $4.48 earnings per share. On average, sell-side analysts forecast that Adobe Inc. will post 16.65 EPS for the current year.

Insider Buying and Selling at Adobe

In other news, Director David A. Ricks bought 2,250 shares of the firm’s stock in a transaction on Tuesday, January 28th. The stock was acquired at an average cost of $443.98 per share, with a total value of $998,955.00. Following the completion of the acquisition, the director now owns 4,984 shares of the company’s stock, valued at approximately $2,212,796.32. This represents a 82.30 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Jillian Forusz sold 334 shares of the stock in a transaction that occurred on 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 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. Over the last 90 days, insiders sold 5,075 shares of company stock worth $2,191,826. 0.16% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

ADBE has been the subject of a number of analyst reports. Bank of America reduced their price objective on shares of Adobe from $605.00 to $528.00 and set a “buy” rating for the company in a report on Thursday, March 13th. Stifel Nicolaus cut their price target on shares of Adobe from $600.00 to $525.00 and set a “buy” rating for the company in a research note on Thursday, March 13th. BMO Capital Markets lowered their price objective on Adobe from $515.00 to $495.00 and set an “outperform” rating on the stock in a research note on Thursday, March 13th. Sanford C. Bernstein cut their price target on shares of Adobe from $644.00 to $587.00 and set an “outperform” rating for the company in a report on Thursday, December 12th. Finally, JMP Securities reiterated a “market perform” rating on shares of Adobe in a research report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $538.80.

About Adobe

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.