Investors Financial Group LLC Invests $530,000 in Adobe Inc (NASDAQ:ADBE)

Investors Financial Group LLC purchased a new position in shares of Adobe Inc (NASDAQ:ADBE) during the fourth quarter, HoldingsChannel reports. The firm purchased 1,606 shares of the software company’s stock, valued at approximately $530,000.

Other large investors have also modified their holdings of the company. Manchester Financial Inc. bought a new position in Adobe during the fourth quarter worth $26,000. JJJ Advisors Inc. bought a new position in Adobe during the third quarter worth $28,000. Hexavest Inc. raised its stake in Adobe by 58.2% during the third quarter. Hexavest Inc. now owns 106 shares of the software company’s stock worth $29,000 after buying an additional 39 shares during the last quarter. Venturi Wealth Management LLC bought a new position in Adobe during the third quarter worth $35,000. Finally, Marquette Asset Management LLC raised its stake in Adobe by 57.8% during the third quarter. Marquette Asset Management LLC now owns 142 shares of the software company’s stock worth $39,000 after buying an additional 52 shares during the last quarter. Institutional investors own 85.06% of the company’s stock.

In other news, Director Charles M. Geschke sold 16,764 shares of the firm’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $332.00, for a total transaction of $5,565,648.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CMO Ann Lewnes sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $300.54, for a total transaction of $901,620.00. Following the sale, the chief marketing officer now directly owns 45,528 shares in the company, valued at approximately $13,682,985.12. The disclosure for this sale can be found here. Over the last quarter, insiders sold 37,312 shares of company stock valued at $12,297,624. 0.32% of the stock is owned by company insiders.

Several equities research analysts have weighed in on ADBE shares. ValuEngine downgraded shares of Adobe from a “hold” rating to a “sell” rating in a research note on Monday, November 4th. Nomura boosted their target price on shares of Adobe from $310.00 to $318.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Piper Jaffray Companies boosted their price target on shares of Adobe from $339.00 to $360.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. UBS Group restated a “buy” rating and set a $360.00 price target on shares of Adobe in a report on Friday, December 13th. Finally, BidaskClub upgraded shares of Adobe from a “sell” rating to a “hold” rating in a research note on Saturday, January 11th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and nineteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $336.28.

Shares of Adobe stock traded down $4.47 during trading on Monday, hitting $346.90. The company’s stock had a trading volume of 2,650,816 shares, compared to its average volume of 2,051,459. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.79 and a current ratio of 0.79. The company has a fifty day simple moving average of $331.01 and a two-hundred day simple moving average of $299.09. The company has a market capitalization of $169.41 billion, a PE ratio of 57.82, a P/E/G ratio of 2.70 and a beta of 1.11. Adobe Inc has a 52 week low of $237.27 and a 52 week high of $355.69.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Thursday, December 12th. The software company reported $2.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.26 by $0.03. The company had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.97 billion. Adobe had a net margin of 26.42% and a return on equity of 31.47%. Adobe’s quarterly revenue was up 21.4% compared to the same quarter last year. During the same period last year, the business earned $1.83 EPS. As a group, analysts predict that Adobe Inc will post 8.02 EPS for the current year.

Adobe Company Profile

Adobe Inc operates as a diversified software company worldwide. Its Digital Media segment provides tools and solutions that enable individuals, small and medium businesses, and enterprises to create, publish, promote, and monetize their digital content. Its flagship product is Creative Cloud, a subscription service that allows customer to download and access the latest versions of its creative products.

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Institutional Ownership by Quarter for Adobe (NASDAQ:ADBE)

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