HBW Advisory Services LLC Acquires 29 Shares of Adobe Inc. (NASDAQ:ADBE)

HBW Advisory Services LLC increased its stake in Adobe Inc. (NASDAQ:ADBE) by 3.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 920 shares of the software company’s stock after acquiring an additional 29 shares during the quarter. HBW Advisory Services LLC’s holdings in Adobe were worth $409,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of ADBE. Piscataqua Savings Bank raised its holdings in shares of Adobe by 226.7% during the third quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock valued at $25,000 after purchasing an additional 34 shares during the period. Legacy Investment Solutions LLC acquired a new position in Adobe during the 3rd quarter worth approximately $26,000. Groupama Asset Managment boosted its holdings in Adobe by 28.8% in the third quarter. Groupama Asset Managment now owns 51,482 shares of the software company’s stock worth $27,000 after acquiring an additional 11,522 shares in the last quarter. MidAtlantic Capital Management Inc. acquired a new stake in Adobe in the third quarter valued at approximately $30,000. Finally, True Wealth Design LLC increased its holdings in shares of Adobe by 141.7% during the third quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock valued at $30,000 after acquiring an additional 34 shares in the last quarter. 81.79% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, EVP Scott Belsky sold 481 shares of the stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $483.42, for a total value of $232,525.02. Following the sale, the executive vice president now directly owns 18,128 shares of the company’s stock, valued at approximately $8,763,437.76. This represents a 2.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Amy Banse sold 606 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $550.00, for a total transaction of $333,300.00. Following the transaction, the director now directly owns 32,929 shares of the company’s stock, valued at approximately $18,110,950. This represents a 1.81 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,293 shares of company stock valued at $1,679,809. Corporate insiders own 0.15% of the company’s stock.

Adobe Price Performance

ADBE opened at $405.92 on Friday. The company has a market capitalization of $178.69 billion, a price-to-earnings ratio of 32.74, a PEG ratio of 2.51 and a beta of 1.31. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.28. The firm has a 50-day moving average price of $484.01 and a 200-day moving average price of $517.15. Adobe Inc. has a twelve month low of $405.32 and a twelve month high of $638.25.

Adobe (NASDAQ:ADBE) last issued its earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.67 by $0.14. Adobe had a net margin of 25.85% and a return on equity of 45.22%. The business had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.54 billion. During the same quarter in the previous year, the firm posted $3.52 EPS. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. Equities analysts expect that Adobe Inc. will post 16.73 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ADBE. UBS Group reduced their price target on shares of Adobe from $525.00 to $475.00 and set a “neutral” rating for the company in a research report on Friday, January 3rd. TD Cowen downgraded shares of Adobe from a “buy” rating to a “hold” rating and decreased their target price for the stock from $625.00 to $550.00 in a research report on Thursday, December 12th. JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a research report on Thursday, December 12th. Oppenheimer decreased their price objective on Adobe from $625.00 to $600.00 and set an “outperform” rating for the company in a report on Thursday, December 12th. Finally, Jefferies Financial Group cut their target price on Adobe from $700.00 to $650.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $575.85.

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.