Adobe Inc. (NASDAQ:ADBE) Shares Bought by Nicholas Company Inc.

Nicholas Company Inc. boosted its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 8.7% in the 4th quarter, Holdings Channel.com reports. The fund owned 167,764 shares of the software company’s stock after buying an additional 13,434 shares during the quarter. Adobe makes up about 1.2% of Nicholas Company Inc.’s holdings, making the stock its 21st biggest holding. Nicholas Company Inc.’s holdings in Adobe were worth $74,601,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC purchased a new position in shares of Adobe during the third quarter worth $26,000. Groupama Asset Managment boosted its position in shares of Adobe by 28.8% during the third quarter. Groupama Asset Managment now owns 51,482 shares of the software company’s stock worth $27,000 after buying an additional 11,522 shares during the period. MidAtlantic Capital Management Inc. purchased a new position in shares of Adobe during the third quarter worth $30,000. True Wealth Design LLC boosted its position 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 worth $30,000 after buying an additional 34 shares during the period. Finally, Decker Retirement Planning Inc. purchased a new position in Adobe in the fourth quarter valued at $31,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Analyst Ratings Changes

ADBE has been the subject of a number of recent research reports. UBS Group decreased their target price on Adobe from $475.00 to $460.00 and set a “neutral” rating for the company in a report on Thursday. StockNews.com lowered Adobe from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 4th. Stifel Nicolaus decreased their target price on Adobe from $600.00 to $525.00 and set a “buy” rating for the company in a report on Thursday. Bank of America decreased their target price on Adobe from $605.00 to $528.00 and set a “buy” rating for the company in a report on Thursday. Finally, JPMorgan Chase & Co. decreased their price target on Adobe from $580.00 to $540.00 and set an “overweight” rating for the company in a report on Thursday. One analyst has rated the stock with a sell rating, ten have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $540.60.

Adobe Stock Performance

Shares of ADBE stock opened at $394.74 on Friday. The stock has a market capitalization of $171.87 billion, a PE ratio of 31.83, a price-to-earnings-growth ratio of 2.15 and a beta of 1.37. Adobe Inc. has a 52-week low of $374.50 and a 52-week high of $587.75. The stock’s 50-day moving average price is $437.03 and its 200 day moving average price is $482.06. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Wednesday, March 12th. The software company reported $5.08 earnings per share for the quarter, beating analysts’ consensus estimates of $4.97 by $0.11. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The company had revenue of $5.71 billion for the quarter, compared to analyst estimates of $5.66 billion. During the same quarter in the previous year, the company earned $4.48 EPS. As a group, equities research analysts forecast that Adobe Inc. will post 16.65 EPS for the current year.

Insider Buying and Selling at Adobe

In other news, EVP Scott Belsky sold 3,819 shares of the business’s stock in a transaction that occurred on 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 owns 18,334 shares of the company’s stock, valued at $7,888,020.16. The trade was a 17.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Jillian Forusz sold 334 shares of the business’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total value of $145,567.22. Following the sale, the chief accounting officer now directly owns 2,685 shares in the company, valued at $1,170,203.55. This trade represents a 11.06 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,075 shares of company stock valued at $2,191,826. 0.16% of the stock is owned by corporate insiders.

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.