Adobe Inc. (NASDAQ:ADBE) Shares Acquired by Cohen Capital Management Inc.

Cohen Capital Management Inc. lifted its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 24.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,037 shares of the software company’s stock after acquiring an additional 600 shares during the period. Cohen Capital Management Inc.’s holdings in Adobe were worth $1,350,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp boosted its holdings in Adobe by 1.2% in the 3rd quarter. State Street Corp now owns 20,270,287 shares of the software company’s stock valued at $10,495,544,000 after purchasing an additional 234,909 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Adobe by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 10,529,089 shares of the software company’s stock valued at $5,435,377,000 after buying an additional 147,981 shares during the period. FMR LLC lifted its holdings in Adobe by 8.8% in the third quarter. FMR LLC now owns 9,690,163 shares of the software company’s stock valued at $5,017,373,000 after acquiring an additional 787,356 shares during the last quarter. Fisher Asset Management LLC grew its position in Adobe by 2.0% in the third quarter. Fisher Asset Management LLC now owns 4,859,584 shares of the software company’s stock worth $2,516,196,000 after acquiring an additional 93,143 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Adobe by 3.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,741,549 shares of the software company’s stock worth $2,455,079,000 after acquiring an additional 140,390 shares during the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Insider Transactions at Adobe

In other Adobe news, Director Amy Banse sold 606 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now owns 32,929 shares of the company’s stock, valued at approximately $18,110,950. This trade represents a 1.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Jillian Forusz sold 334 shares of the company’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 completion of the sale, the chief accounting officer now owns 2,685 shares in the company, valued at $1,170,203.55. This represents a 11.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,681 shares of company stock valued at $2,525,126 in the last 90 days. 0.15% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on ADBE shares. JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a research note on Thursday, December 12th. Oppenheimer lowered their target price on shares of Adobe from $625.00 to $600.00 and set an “outperform” rating for the company in a research note on Thursday, December 12th. Royal Bank of Canada reissued an “outperform” rating and issued a $590.00 price target on shares of Adobe in a research note on Thursday, February 13th. Citigroup lowered their price objective on shares of Adobe from $616.00 to $590.00 and set a “neutral” rating for the company in a research report on Monday, December 9th. Finally, Wells Fargo & Company cut their target price on Adobe from $700.00 to $640.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Adobe presently has a consensus rating of “Moderate Buy” and an average price target of $570.88.

Adobe Trading Down 2.3 %

Shares of ADBE opened at $444.32 on Friday. The firm’s 50-day moving average is $440.46 and its two-hundred day moving average is $494.02. Adobe Inc. has a twelve month low of $403.75 and a twelve month high of $587.75. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $193.41 billion, a P/E ratio of 35.83, a PEG ratio of 2.20 and a beta of 1.31.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 earnings per share for the quarter, beating the consensus estimate of $4.67 by $0.14. The firm had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.54 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. Adobe’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period last year, the business posted $3.52 EPS. On average, research analysts predict that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Adobe Company 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.