Stablepoint Partners LLC Has $717,000 Stake in Adobe Inc. (NASDAQ:ADBE)

Stablepoint Partners LLC grew its stake in Adobe Inc. (NASDAQ:ADBE) by 6.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,613 shares of the software company’s stock after buying an additional 98 shares during the period. Stablepoint Partners LLC’s holdings in Adobe were worth $717,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in ADBE. Mackenzie Financial Corp boosted its holdings in shares of Adobe by 0.7% during the 2nd quarter. Mackenzie Financial Corp now owns 67,062 shares of the software company’s stock worth $37,256,000 after buying an additional 451 shares during the period. Annandale Capital LLC lifted its position in Adobe by 10.5% during the 2nd quarter. Annandale Capital LLC now owns 5,276 shares of the software company’s stock worth $2,931,000 after acquiring an additional 500 shares during the last quarter. Aviso Wealth Management boosted its holdings in Adobe by 6.8% during the second quarter. Aviso Wealth Management now owns 487 shares of the software company’s stock valued at $271,000 after acquiring an additional 31 shares during the period. Magnolia Capital Advisors LLC grew its position in shares of Adobe by 13.9% in the second quarter. Magnolia Capital Advisors LLC now owns 664 shares of the software company’s stock valued at $369,000 after purchasing an additional 81 shares during the last quarter. Finally, NewEdge Advisors LLC increased its stake in shares of Adobe by 19.3% in the second quarter. NewEdge Advisors LLC now owns 40,867 shares of the software company’s stock worth $22,704,000 after purchasing an additional 6,622 shares during the period. Institutional investors own 81.79% of the company’s stock.

Insider Activity

In other Adobe news, CAO Jillian Forusz sold 676 shares of Adobe stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $484.97, for a total transaction of $327,839.72. Following the completion of the sale, the chief accounting officer now owns 2,715 shares of the company’s stock, valued at approximately $1,316,693.55. The trade was a 19.94 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Amy Banse sold 606 shares of the stock in a transaction on Friday, December 6th. The shares were sold at an average price of $550.00, for a total value of $333,300.00. Following the completion of the transaction, the director now directly owns 32,929 shares in the company, valued at approximately $18,110,950. This trade represents a 1.81 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.15% of the company’s stock.

Adobe Stock Performance

Adobe stock opened at $435.38 on Monday. Adobe Inc. has a 12-month low of $403.75 and a 12-month high of $638.25. The stock has a 50-day simple moving average of $468.14 and a 200 day simple moving average of $507.66. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $189.52 billion, a price-to-earnings ratio of 35.11, a P/E/G ratio of 2.12 and a beta of 1.31.

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

Analyst Ratings Changes

A number of analysts have issued reports on ADBE shares. Oppenheimer lowered their target price on Adobe from $625.00 to $600.00 and set an “outperform” rating on the stock in a report on Thursday, December 12th. Stifel Nicolaus dropped their target price on shares of Adobe from $650.00 to $600.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Bank of America reduced their price target on shares of Adobe from $640.00 to $605.00 and set a “buy” rating for the company in a report on Thursday, December 12th. BNP Paribas upgraded shares of Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 price objective on the stock in a report on Wednesday, January 15th. Finally, BMO Capital Markets reduced their target price 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. One research analyst has rated the stock with a sell rating, ten have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Adobe has a consensus rating of “Moderate Buy” and a consensus price target of $573.00.

About Adobe

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.