Guinness Atkinson Asset Management Inc Acquires 1,042 Shares of Adobe Inc. (NASDAQ:ADBE)

Guinness Atkinson Asset Management Inc grew its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 8.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,619 shares of the software company’s stock after buying an additional 1,042 shares during the quarter. Adobe accounts for approximately 3.1% of Guinness Atkinson Asset Management Inc’s holdings, making the stock its 19th biggest holding. Guinness Atkinson Asset Management Inc’s holdings in Adobe were worth $6,056,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in ADBE. Guinness Asset Management LTD lifted its position in Adobe by 27.7% in the fourth quarter. Guinness Asset Management LTD now owns 83,593 shares of the software company’s stock worth $37,172,000 after buying an additional 18,119 shares during the last quarter. Purus Wealth Management LLC lifted its holdings in shares of Adobe by 0.5% in the 4th quarter. Purus Wealth Management LLC now owns 9,144 shares of the software company’s stock worth $4,066,000 after acquiring an additional 43 shares during the last quarter. FLC Capital Advisors boosted its stake in shares of Adobe by 27.1% during the 4th quarter. FLC Capital Advisors now owns 1,897 shares of the software company’s stock worth $844,000 after purchasing an additional 405 shares during the period. DLK Investment Management LLC grew its holdings in Adobe by 1.5% during the 4th quarter. DLK Investment Management LLC now owns 10,200 shares of the software company’s stock valued at $4,536,000 after purchasing an additional 150 shares during the last quarter. Finally, Seilern Investment Management Ltd purchased a new stake in Adobe in the 4th quarter worth about $110,744,000. Institutional investors own 81.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ADBE. Stifel Nicolaus dropped their target price on Adobe from $650.00 to $600.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. Bank of America dropped their price objective on Adobe from $640.00 to $605.00 and set a “buy” rating for the company in a report on Thursday, December 12th. Oppenheimer reduced their target price on Adobe from $625.00 to $600.00 and set an “outperform” rating on the stock in a research note on Thursday, December 12th. Jefferies Financial Group lowered their target price on shares of Adobe from $700.00 to $650.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. Finally, UBS Group lowered their price target on Adobe from $525.00 to $475.00 and set a “neutral” rating for the company in a report on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $573.00.

Insiders Place Their Bets

In other Adobe news, EVP Scott Belsky sold 481 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $483.42, for a total transaction of $232,525.02. Following the completion of the transaction, the executive vice president now directly owns 18,128 shares of the company’s stock, valued at approximately $8,763,437.76. This trade represents a 2.58 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Amy Banse sold 606 shares of the company’s stock in a transaction 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 completion of the sale, the director now directly owns 32,929 shares in the company, valued at $18,110,950. This trade represents a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,763 shares of company stock valued at $893,665. Insiders own 0.15% of the company’s stock.

Adobe Trading Up 0.7 %

Shares of NASDAQ:ADBE opened at $429.99 on Monday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.11. The firm has a market capitalization of $189.28 billion, a P/E ratio of 34.68, a P/E/G ratio of 1.97 and a beta of 1.31. The business’s 50-day moving average is $476.55 and its 200 day moving average is $512.44. Adobe Inc. has a 1 year low of $403.75 and a 1 year high of $638.25.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 EPS 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 analyst estimates of $5.54 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. Adobe’s revenue was up 11.1% on a year-over-year basis. During the same period last year, the firm 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.