TD Waterhouse Canada Inc. Has $12.21 Million Stake in Adobe Inc. (NASDAQ:ADBE)

TD Waterhouse Canada Inc. lifted its position in Adobe Inc. (NASDAQ:ADBE - Free Report) by 58.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,447 shares of the software company's stock after purchasing an additional 10,095 shares during the quarter. TD Waterhouse Canada Inc.'s holdings in Adobe were worth $12,205,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Decker Retirement Planning Inc. acquired a new position in shares of Adobe in the 4th quarter worth approximately $31,000. Summit Securities Group LLC bought a new stake in Adobe during the 4th quarter worth about $31,000. Caitlin John LLC increased its position in Adobe by 171.4% in the 4th quarter. Caitlin John LLC now owns 76 shares of the software company's stock valued at $34,000 after acquiring an additional 48 shares in the last quarter. Mascoma Wealth Management LLC increased its position in Adobe by 142.9% in the 4th quarter. Mascoma Wealth Management LLC now owns 85 shares of the software company's stock valued at $38,000 after acquiring an additional 50 shares in the last quarter. Finally, LFA Lugano Financial Advisors SA bought a new position in shares of Adobe in the fourth quarter worth about $38,000. 81.79% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on ADBE. UBS Group lowered their price target on shares of Adobe from $410.00 to $380.00 and set a "neutral" rating for the company in a report on Friday, April 11th. BNP Paribas upgraded Adobe from an "underperform" rating to a "neutral" rating and set a $425.00 target price for the company in a research report on Wednesday, January 15th. Wells Fargo & Company cut their price target on Adobe from $600.00 to $430.00 and set an "overweight" rating on the stock in a research note on Tuesday. Citigroup lowered their price objective on Adobe from $551.00 to $490.00 and set a "neutral" rating for the company in a research report on Monday, March 10th. Finally, Redburn Atlantic started coverage on shares of Adobe in a research report on Wednesday, February 19th. They set a "neutral" rating on the stock. Eleven equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $502.88.

Insider Buying and Selling at Adobe

In other Adobe news, CFO Daniel Durn purchased 1,300 shares of the firm's stock in a transaction on Thursday, March 20th. The stock was purchased at an average cost of $390.58 per share, for a total transaction of $507,754.00. Following the transaction, the chief financial officer now owns 29,876 shares in the company, valued at $11,668,968.08. The trade was a 4.55 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director David A. Ricks purchased 2,250 shares of the business's stock in a transaction dated Tuesday, January 28th. The shares were acquired at an average price of $443.98 per share, for a total transaction of $998,955.00. Following the acquisition, the director now owns 4,984 shares of the company's stock, valued at $2,212,796.32. This trade represents a 82.30 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.16% of the company's stock.

Adobe Stock Performance

NASDAQ:ADBE traded up $6.81 during mid-day trading on Friday, reaching $367.72. 3,497,670 shares of the company's stock were exchanged, compared to its average volume of 3,429,613. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07. The firm has a market capitalization of $156.72 billion, a PE ratio of 29.65, a price-to-earnings-growth ratio of 2.15 and a beta of 1.49. Adobe Inc. has a one year low of $332.01 and a one year high of $587.75. The business's fifty day simple moving average is $394.82 and its two-hundred day simple moving average is $446.30.

Adobe (NASDAQ:ADBE - Get Free Report) last announced its quarterly earnings data on Wednesday, March 12th. The software company reported $5.08 EPS for the quarter, beating the consensus estimate of $4.97 by $0.11. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The business had revenue of $5.71 billion during the quarter, compared to the consensus estimate of $5.66 billion. During the same period in the previous year, the business earned $4.48 earnings per share. Analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

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.