Adobe Inc. (NASDAQ:ADBE) Shares Purchased by Cooper Financial Group

Cooper Financial Group boosted its holdings in Adobe Inc. (NASDAQ:ADBE) by 12.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 3,634 shares of the software company’s stock after buying an additional 393 shares during the quarter. Cooper Financial Group’s holdings in Adobe were worth $1,616,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Kieckhefer Group LLC acquired a new position in Adobe in the fourth quarter worth approximately $44,000. Trust Co. of Toledo NA OH grew its position in Adobe by 3.3% in the fourth quarter. Trust Co. of Toledo NA OH now owns 3,350 shares of the software company’s stock worth $1,490,000 after buying an additional 106 shares during the last quarter. Fiduciary Alliance LLC grew its position in Adobe by 240.3% in the fourth quarter. Fiduciary Alliance LLC now owns 1,984 shares of the software company’s stock worth $882,000 after buying an additional 1,401 shares during the last quarter. Eastover Investment Advisors LLC grew its position in Adobe by 1.7% in the fourth quarter. Eastover Investment Advisors LLC now owns 3,548 shares of the software company’s stock worth $1,578,000 after buying an additional 60 shares during the last quarter. Finally, Czech National Bank grew its position in Adobe by 5.7% in the fourth quarter. Czech National Bank now owns 95,445 shares of the software company’s stock worth $42,442,000 after buying an additional 5,120 shares during the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Insider Transactions at Adobe

In other news, EVP Scott Belsky sold 481 shares of the business’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $483.42, for a total transaction of $232,525.02. Following the transaction, the executive vice president now owns 18,128 shares in the company, valued at approximately $8,763,437.76. The trade was a 2.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Amy Banse sold 606 shares of the stock in a transaction dated 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 directly owns 32,929 shares of the company’s stock, valued at $18,110,950. This trade represents a 1.81 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,293 shares of company stock worth $1,679,809. 0.15% of the stock is currently owned by company insiders.

Adobe Stock Performance

ADBE traded up $0.95 during trading on Monday, hitting $406.87. The stock had a trading volume of 2,449,903 shares, compared to its average volume of 3,969,782. The firm has a market cap of $179.10 billion, a PE ratio of 32.81, a P/E/G ratio of 2.51 and a beta of 1.31. Adobe Inc. has a 12 month low of $403.75 and a 12 month high of $638.25. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.28. The company has a 50 day simple moving average of $484.01 and a 200-day simple moving average of $517.00.

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

Wall Street Analyst Weigh In

A number of research firms recently commented on ADBE. StockNews.com raised shares of Adobe from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 18th. Barclays decreased their price objective on shares of Adobe from $675.00 to $645.00 and set an “overweight” rating for the company in a research note on Thursday, December 12th. Bank of America decreased their price objective on shares of Adobe from $640.00 to $605.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. BMO Capital Markets decreased their price objective on shares of Adobe from $600.00 to $570.00 and set an “outperform” rating for the company in a research note on Thursday, December 12th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $475.00 price objective (down previously from $600.00) on shares of Adobe in a research note on Wednesday, January 8th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average 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.