Cascades Capital Asset Management LLC Has $406,000 Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

Cascades Capital Asset Management LLC lowered its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 14.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 912 shares of the software company’s stock after selling 150 shares during the quarter. Cascades Capital Asset Management LLC’s holdings in Adobe were worth $406,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of ADBE. Legacy Investment Solutions LLC bought a new stake in shares of Adobe during the 3rd quarter worth about $26,000. Groupama Asset Managment lifted its holdings in Adobe by 28.8% in the 3rd quarter. Groupama Asset Managment now owns 51,482 shares of the software company’s stock worth $27,000 after purchasing an additional 11,522 shares during the last quarter. Decker Retirement Planning Inc. acquired a new stake in Adobe in the 4th quarter worth approximately $31,000. Summit Securities Group LLC bought a new stake in Adobe during the fourth quarter worth approximately $31,000. Finally, Caitlin John LLC grew its holdings in Adobe by 171.4% during the fourth quarter. Caitlin John LLC now owns 76 shares of the software company’s stock valued at $34,000 after purchasing an additional 48 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors.

Adobe Stock Performance

Adobe stock opened at $349.07 on Friday. The company has a market cap of $148.77 billion, a PE ratio of 28.15, a PEG ratio of 2.15 and a beta of 1.49. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29. Adobe Inc. has a 1 year low of $348.80 and a 1 year high of $587.75. The company’s 50-day moving average is $425.66 and its two-hundred day moving average is $463.96.

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

Insider Buying and Selling

In other news, CAO Jillian Forusz sold 334 shares of the business’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total transaction of $145,567.22. Following the completion of the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Daniel Durn purchased 1,300 shares of the business’s stock in a transaction that occurred on Thursday, March 20th. The stock was purchased at an average price of $390.58 per share, for a total transaction of $507,754.00. Following the completion of the transaction, the chief financial officer now directly owns 29,876 shares in the company, valued at $11,668,968.08. This trade represents a 4.55 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 5,075 shares of company stock valued at $2,191,826 over the last three months. Company insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on ADBE. JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a report on Thursday, December 12th. StockNews.com cut shares of Adobe from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 4th. BMO Capital Markets lowered their price target on Adobe from $515.00 to $495.00 and set an “outperform” rating on the stock in a research report on Thursday, March 13th. Bank of America cut their price objective on Adobe from $605.00 to $528.00 and set a “buy” rating for the company in a research report on Thursday, March 13th. Finally, Wells Fargo & Company lowered their target price on Adobe from $640.00 to $600.00 and set an “overweight” rating on the stock in a report on Friday, March 7th. Eleven analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $531.54.

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.