McDonough Capital Management Inc Has $520,000 Position in Adobe Inc. (NASDAQ:ADBE)

McDonough Capital Management Inc lowered its position in Adobe Inc. (NASDAQ:ADBE) by 73.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 1,169 shares of the software company’s stock after selling 3,297 shares during the quarter. Adobe comprises 0.3% of McDonough Capital Management Inc’s portfolio, making the stock its 29th biggest position. McDonough Capital Management Inc’s holdings in Adobe were worth $520,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of ADBE. Swedbank AB raised its position in Adobe by 0.3% in the 3rd quarter. Swedbank AB now owns 1,196,175 shares of the software company’s stock worth $619,355,000 after purchasing an additional 3,739 shares during the last quarter. Catalyst Capital Advisors LLC raised its position in Adobe by 20.3% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 516 shares of the software company’s stock worth $267,000 after purchasing an additional 87 shares during the last quarter. Pittenger & Anderson Inc. raised its position in Adobe by 7.3% in the 3rd quarter. Pittenger & Anderson Inc. now owns 3,005 shares of the software company’s stock worth $1,556,000 after purchasing an additional 205 shares during the last quarter. HF Advisory Group LLC raised its position in Adobe by 2.8% in the 3rd quarter. HF Advisory Group LLC now owns 2,796 shares of the software company’s stock worth $1,448,000 after purchasing an additional 76 shares during the last quarter. Finally, Avidian Wealth Enterprises LLC raised its position in Adobe by 11.0% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 2,000 shares of the software company’s stock worth $1,036,000 after purchasing an additional 198 shares during the last quarter. Institutional investors own 81.79% of the company’s stock.

Adobe Trading Up 1.2 %

ADBE opened at $451.24 on Thursday. The stock has a market capitalization of $196.42 billion, a P/E ratio of 36.39, a P/E/G ratio of 2.15 and a beta of 1.37. Adobe Inc. has a 12 month low of $403.75 and a 12 month high of $587.75. The firm’s fifty day simple moving average is $439.61 and its 200 day simple moving average is $488.77. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 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 45.87%. The firm had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.54 billion. During the same period in the previous year, the firm posted $3.52 EPS. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. As a group, research analysts anticipate that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ADBE has been the subject of a number of analyst reports. Mizuho lowered their target price on shares of Adobe from $640.00 to $620.00 and set an “outperform” rating for the company in a report on Thursday, December 12th. JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a report on Thursday, December 12th. DA Davidson lowered their target price on shares of Adobe from $685.00 to $625.00 and set a “buy” rating for the company in a report on Thursday, December 12th. UBS Group lowered their target price on shares of Adobe from $525.00 to $475.00 and set a “neutral” rating for the company in a report on Friday, January 3rd. Finally, Piper Sandler lowered their target price on shares of Adobe from $635.00 to $600.00 and set an “overweight” rating for the company in a report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Adobe presently has a consensus rating of “Moderate Buy” and a consensus target price of $570.88.

Insiders Place Their Bets

In other Adobe news, Director Amy Banse sold 606 shares of the business’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $550.00, for a total transaction of $333,300.00. Following the sale, the director now directly owns 32,929 shares of the company’s stock, valued at $18,110,950. The trade was a 1.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Scott Belsky sold 3,819 shares of the business’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $430.24, for a total transaction of $1,643,086.56. Following the sale, the executive vice president now directly owns 18,334 shares in the company, valued at $7,888,020.16. This trade represents a 17.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,681 shares of company stock valued at $2,525,126 in the last three months. 0.15% of the stock is currently owned by corporate insiders.

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.