Unified Investment Management Purchases Shares of 1,373 Adobe Inc. (NASDAQ:ADBE)

Unified Investment Management bought a new stake in Adobe Inc. (NASDAQ:ADBE - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 1,373 shares of the software company's stock, valued at approximately $611,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp boosted its stake in shares of Adobe by 1.2% in the 3rd quarter. State Street Corp now owns 20,270,287 shares of the software company's stock valued at $10,495,544,000 after purchasing an additional 234,909 shares in the last quarter. Geode Capital Management LLC lifted its position in Adobe by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 10,529,089 shares of the software company's stock worth $5,435,377,000 after buying an additional 147,981 shares in the last quarter. FMR LLC lifted its position in Adobe by 8.8% during the 3rd quarter. FMR LLC now owns 9,690,163 shares of the software company's stock worth $5,017,373,000 after buying an additional 787,356 shares in the last quarter. Fisher Asset Management LLC lifted its position in Adobe by 2.0% during the 3rd quarter. Fisher Asset Management LLC now owns 4,859,584 shares of the software company's stock worth $2,516,196,000 after buying an additional 93,143 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Adobe by 3.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,741,549 shares of the software company's stock worth $2,455,079,000 after buying an additional 140,390 shares in the last quarter. Institutional investors and hedge funds own 81.79% of the company's stock.

Insider Activity at Adobe

In other Adobe news, EVP Scott Belsky sold 922 shares of the business's stock in a transaction on Friday, January 24th. The stock was sold at an average price of $437.28, for a total value of $403,172.16. Following the sale, the executive vice president now directly owns 22,153 shares of the company's stock, valued at approximately $9,687,063.84. The trade was a 4.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Jillian Forusz sold 334 shares of the business's stock in a transaction 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 completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,681 shares of company stock worth $2,525,126 over the last ninety days. 0.15% of the stock is owned by corporate insiders.

Adobe Trading Up 1.2 %

Shares of ADBE stock traded up $5.21 during trading hours on Wednesday, reaching $451.24. The company's stock had a trading volume of 2,404,505 shares, compared to its average volume of 3,415,368. 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 one year low of $403.75 and a one year 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 - Get Free Report) last issued its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 earnings per share for the quarter, topping analysts' consensus estimates of $4.67 by $0.14. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The firm had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.54 billion. During the same period last year, the company earned $3.52 EPS. The business's quarterly revenue was up 11.1% compared to the same quarter last year. Equities research analysts expect that Adobe Inc. will post 16.65 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ADBE. JMP Securities reiterated a "market perform" rating on shares of Adobe in a research report on Thursday, December 12th. Stifel Nicolaus cut 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. StockNews.com downgraded shares of Adobe from a "strong-buy" rating to a "buy" rating in a research report on Tuesday. Sanford C. Bernstein lowered their price target on Adobe from $644.00 to $587.00 and set an "outperform" rating for the company in a research note on Thursday, December 12th. Finally, TD Cowen cut Adobe from a "buy" rating to a "hold" rating and lowered their price target for the company from $625.00 to $550.00 in a research note on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $570.88.

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.