Keel Point LLC Has $1.08 Million Holdings in Adobe Inc. (NASDAQ:ADBE)

Keel Point LLC boosted its stake in Adobe Inc. (NASDAQ:ADBE) by 2.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,431 shares of the software company’s stock after purchasing an additional 51 shares during the period. Keel Point LLC’s holdings in Adobe were worth $1,081,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Sepio Capital LP boosted its holdings in shares of Adobe by 2.3% during the 4th quarter. Sepio Capital LP now owns 993 shares of the software company’s stock valued at $442,000 after purchasing an additional 22 shares during the last quarter. Cadence Bank lifted its position in shares of Adobe by 0.5% in the fourth quarter. Cadence Bank now owns 4,883 shares of the software company’s stock worth $2,171,000 after buying an additional 22 shares in the last quarter. Eagle Strategies LLC lifted its position in shares of Adobe by 1.5% in the fourth quarter. Eagle Strategies LLC now owns 1,465 shares of the software company’s stock worth $651,000 after buying an additional 22 shares in the last quarter. Foster Group Inc. boosted its stake in Adobe by 4.6% during the fourth quarter. Foster Group Inc. now owns 526 shares of the software company’s stock valued at $234,000 after buying an additional 23 shares during the last quarter. Finally, Atlantic Edge Private Wealth Management LLC grew its holdings in Adobe by 0.4% during the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 5,406 shares of the software company’s stock valued at $2,404,000 after buying an additional 23 shares in the last quarter. 81.79% of the stock is owned by institutional investors.

Adobe Trading Down 0.1 %

Shares of NASDAQ ADBE opened at $374.63 on Friday. Adobe Inc. has a twelve month low of $332.01 and a twelve month high of $587.75. The firm has a market cap of $159.67 billion, a PE ratio of 30.21, a price-to-earnings-growth ratio of 2.15 and a beta of 1.49. The business has a fifty day simple moving average of $386.67 and a two-hundred day simple moving average of $441.88. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29.

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

Insiders Place Their Bets

In related news, CFO Daniel Durn acquired 1,300 shares of the company’s stock in a transaction that occurred on Thursday, March 20th. The shares were bought at an average price of $390.58 per share, with a total value 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.16% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on ADBE shares. Mizuho lowered their target price on Adobe from $620.00 to $575.00 and set an “outperform” rating for the company in a research report on Thursday, March 13th. JPMorgan Chase & Co. dropped their price objective on shares of Adobe from $580.00 to $540.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. DA Davidson decreased their target price on shares of Adobe from $600.00 to $450.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Evercore ISI lowered their price target on shares of Adobe from $650.00 to $550.00 and set an “outperform” rating for the company in a report on Thursday, March 13th. Finally, Oppenheimer reduced their price objective on Adobe from $560.00 to $530.00 and set an “outperform” rating on the stock in a research note on Thursday, March 13th. Eleven research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $502.88.

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.