Adobe Inc. (NASDAQ:ADBE) Position Boosted by Bellecapital International Ltd.

Bellecapital International Ltd. lifted its holdings in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 14.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 42,994 shares of the software company's stock after purchasing an additional 5,433 shares during the period. Adobe comprises about 3.4% of Bellecapital International Ltd.'s investment portfolio, making the stock its 10th biggest position. Bellecapital International Ltd.'s holdings in Adobe were worth $19,119,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in ADBE. Swedbank AB grew its holdings in shares of Adobe by 0.3% during the 3rd quarter. Swedbank AB now owns 1,196,175 shares of the software company's stock valued at $619,355,000 after purchasing an additional 3,739 shares during the last quarter. EMC Capital Management boosted its position in Adobe by 289.3% during the 3rd quarter. EMC Capital Management now owns 1,168 shares of the software company's stock valued at $605,000 after buying an additional 868 shares during the period. Dash Acquisitions Inc. boosted its position in Adobe by 7.2% during the 3rd quarter. Dash Acquisitions Inc. now owns 25,085 shares of the software company's stock valued at $12,134,000 after buying an additional 1,688 shares during the period. Farther Finance Advisors LLC boosted its position in Adobe by 5.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 8,629 shares of the software company's stock valued at $4,467,000 after buying an additional 468 shares during the period. Finally, Chicago Partners Investment Group LLC boosted its position in Adobe by 3.3% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 2,902 shares of the software company's stock valued at $1,408,000 after buying an additional 93 shares during the period. Institutional investors own 81.79% of the company's stock.

Adobe Stock Up 0.3 %

NASDAQ:ADBE traded up $1.30 on Friday, reaching $438.49. 3,936,248 shares of the stock traded hands, compared to its average volume of 3,474,121. The company has a market capitalization of $190.87 billion, a price-to-earnings ratio of 35.36, a PEG ratio of 2.15 and a beta of 1.31. 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 Inc. has a 12 month low of $403.75 and a 12 month high of $587.75. The company's fifty day simple moving average is $439.71 and its 200 day simple moving average is $490.59.

Adobe (NASDAQ:ADBE - Get Free Report) last released its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 earnings per share for the quarter, beating analysts' consensus estimates of $4.67 by $0.14. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The business had revenue of $5.61 billion during the quarter, compared to analyst estimates of $5.54 billion. During the same period last year, the business earned $3.52 EPS. Adobe's revenue was up 11.1% compared to the same quarter last year. Equities analysts predict that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on ADBE shares. StockNews.com cut shares of Adobe from a "strong-buy" rating to a "buy" rating in a research report on Thursday, February 20th. Oppenheimer dropped their price target on shares of Adobe from $625.00 to $600.00 and set an "outperform" rating for the company in a research report on Thursday, December 12th. Sanford C. Bernstein dropped their target price on shares of Adobe from $644.00 to $587.00 and set an "outperform" rating for the company in a research report on Thursday, December 12th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $590.00 target price on shares of Adobe in a research report on Thursday, February 13th. Finally, TD Cowen cut shares of Adobe from a "buy" rating to a "hold" rating and dropped their target price for the stock from $625.00 to $550.00 in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Adobe has an average rating of "Moderate Buy" and a consensus price target of $570.88.

Insider Transactions at Adobe

In other Adobe news, Director David A. Ricks acquired 2,250 shares of the company's stock in a transaction that occurred on Tuesday, January 28th. The shares were bought at an average price of $443.98 per share, with a total value of $998,955.00. Following the completion of the acquisition, the director now owns 4,984 shares in the company, valued at $2,212,796.32. This represents a 82.30 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Amy Banse sold 606 shares of the firm's stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $550.00, for a total transaction of $333,300.00. Following the completion of the transaction, the director now directly owns 32,929 shares in the company, valued at approximately $18,110,950. The trade was a 1.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,681 shares of company stock worth $2,525,126 over the last three months. 0.15% of the stock is currently owned by company 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.