Adobe Inc. (NASDAQ:ADBE) Shares Bought by Kovack Advisors Inc.

Kovack Advisors Inc. raised its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 56.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,342 shares of the software company's stock after purchasing an additional 1,211 shares during the quarter. Kovack Advisors Inc.'s holdings in Adobe were worth $1,486,000 as of its most recent SEC filing.

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

Adobe Stock Performance

NASDAQ ADBE traded up $1.30 on Friday, reaching $438.49. 3,936,248 shares of the stock were exchanged, compared to its average volume of 3,474,121. 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 one year low of $403.75 and a one year high of $587.75. The company's 50-day simple moving average is $439.71 and its two-hundred day simple moving average is $490.93. The firm has a market capitalization of $190.87 billion, a PE ratio of 35.36, a PEG ratio of 2.15 and a beta of 1.31.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its earnings results on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, topping analysts' consensus estimates of $4.67 by $0.14. The company had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $5.54 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The firm's revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the previous year, the business earned $3.52 earnings per share. Analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Insider Transactions at Adobe

In related news, Director Amy Banse sold 606 shares of the company's stock in a transaction 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 sale, the director now directly owns 32,929 shares in the company, valued at $18,110,950. This represents a 1.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Jillian Forusz sold 334 shares of the stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $435.83, for a total transaction of $145,567.22. Following the sale, the chief accounting officer now directly owns 2,685 shares of the company's stock, valued at $1,170,203.55. The trade was a 11.06 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,681 shares of company stock worth $2,525,126. 0.15% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Barclays dropped their price objective on Adobe from $675.00 to $645.00 and set an "overweight" rating on the stock in a research note on Thursday, December 12th. DA Davidson dropped their price target on Adobe from $685.00 to $625.00 and set a "buy" rating on the stock in a research note on Thursday, December 12th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $475.00 price target (down from $600.00) on shares of Adobe in a research note on Wednesday, January 8th. Bank of America lowered their price objective on Adobe from $640.00 to $605.00 and set a "buy" rating on the stock in a research report on Thursday, December 12th. Finally, JMP Securities reaffirmed a "market perform" rating on shares of Adobe in a report on Thursday, December 12th. One 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 issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $570.88.

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.