Scotia Capital Inc. Acquires 35,791 Shares of Adobe Inc. (NASDAQ:ADBE)

Scotia Capital Inc. raised its position in Adobe Inc. (NASDAQ:ADBE - Free Report) by 22.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 198,106 shares of the software company's stock after buying an additional 35,791 shares during the period. Scotia Capital Inc.'s holdings in Adobe were worth $88,095,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in ADBE. Decker Retirement Planning Inc. acquired a new stake in Adobe during the 4th quarter worth $31,000. Summit Securities Group LLC purchased a new stake in Adobe in the fourth quarter valued at approximately $31,000. Caitlin John LLC lifted its stake in Adobe by 171.4% during the 4th quarter. Caitlin John LLC now owns 76 shares of the software company's stock worth $34,000 after acquiring an additional 48 shares in the last quarter. Mascoma Wealth Management LLC boosted its stake in shares of Adobe by 142.9% in the fourth quarter. Mascoma Wealth Management LLC now owns 85 shares of the software company's stock valued at $38,000 after purchasing an additional 50 shares during the period. Finally, LFA Lugano Financial Advisors SA purchased a new position in Adobe in the 4th quarter valued at approximately $38,000. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

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

Analyst Ratings Changes

ADBE has been the topic of a number of recent analyst reports. Robert W. Baird dropped their price objective on shares of Adobe from $490.00 to $410.00 and set a "neutral" rating on the stock in a research report on Wednesday, March 19th. Royal Bank of Canada lowered their price target on Adobe from $530.00 to $480.00 and set an "outperform" rating on the stock in a report on Monday. Redburn Atlantic initiated coverage on shares of Adobe in a research note on Wednesday, February 19th. They issued a "neutral" rating on the stock. Summit Redstone set a $410.00 target price on Adobe in a research note on Wednesday, March 19th. Finally, Bank of America reduced their price objective on shares of Adobe from $605.00 to $528.00 and set a "buy" rating for the company in a research note on Thursday, March 13th. Eleven research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $525.19.

Adobe Stock Down 0.6 %

Shares of NASDAQ ADBE traded down $2.06 during mid-day trading on Monday, reaching $350.41. 1,248,618 shares of the company traded hands, compared to its average volume of 3,391,191. Adobe Inc. has a fifty-two week low of $332.01 and a fifty-two week high of $587.75. The stock has a market cap of $149.34 billion, a PE ratio of 28.26, a price-to-earnings-growth ratio of 2.15 and a beta of 1.49. 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 company's fifty day moving average is $413.00 and its two-hundred day moving average is $455.28.

Adobe (NASDAQ:ADBE - Get Free Report) last issued its quarterly earnings results on Wednesday, March 12th. The software company reported $5.08 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $5.66 billion. During the same period in the previous year, the company earned $4.48 earnings per share. On average, analysts expect that Adobe Inc. will post 16.65 earnings per share for the current year.

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.