11,108 Shares in Adobe Inc. (NASDAQ:ADBE) Bought by Capital Investment Counsel LLC

Capital Investment Counsel LLC purchased a new stake in Adobe Inc. (NASDAQ:ADBE - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The fund purchased 11,108 shares of the software company's stock, valued at approximately $4,940,000.

Other hedge funds also recently made changes to their positions in the company. Onyx Bridge Wealth Group LLC boosted its stake in shares of Adobe by 4.0% during the 3rd quarter. Onyx Bridge Wealth Group LLC now owns 526 shares of the software company's stock worth $272,000 after purchasing an additional 20 shares during the period. Connable Office Inc. boosted its position in shares of Adobe by 0.5% during the third quarter. Connable Office Inc. now owns 3,732 shares of the software company's stock valued at $1,932,000 after buying an additional 20 shares during the period. 1ST Source Bank grew its stake in shares of Adobe by 0.7% during the third quarter. 1ST Source Bank now owns 2,889 shares of the software company's stock valued at $1,496,000 after buying an additional 20 shares during the last quarter. Next Capital Management LLC raised its holdings in shares of Adobe by 3.2% in the second quarter. Next Capital Management LLC now owns 678 shares of the software company's stock worth $377,000 after buying an additional 21 shares during the period. Finally, James J. Burns & Company LLC increased its stake in Adobe by 5.6% in the third quarter. James J. Burns & Company LLC now owns 415 shares of the software company's stock worth $215,000 after purchasing an additional 22 shares during the period. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Adobe Trading Up 0.0 %

Shares of NASDAQ ADBE traded up $0.14 during trading on Wednesday, reaching $442.98. The stock had a trading volume of 1,267,451 shares, compared to its average volume of 3,906,958. 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 has a market cap of $192.83 billion, a P/E ratio of 35.70, a PEG ratio of 2.12 and a beta of 1.31. Adobe Inc. has a fifty-two week low of $403.75 and a fifty-two week high of $638.25. The business's 50-day moving average price is $465.79 and its 200-day moving average price is $505.60.

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

Insider Buying and Selling at Adobe

In other news, Director Amy Banse sold 606 shares of the business's stock in a transaction dated 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 of the company's stock, valued at approximately $18,110,950. The trade was a 1.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Scott Belsky sold 3,819 shares of the firm's stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $430.24, for a total transaction of $1,643,086.56. Following the completion of the sale, the executive vice president now directly owns 18,334 shares in the company, valued at approximately $7,888,020.16. This trade represents a 17.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,681 shares of company stock valued at $2,525,126 in the last 90 days. Company insiders own 0.15% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Citigroup lowered their price objective on shares of Adobe from $616.00 to $590.00 and set a "neutral" rating for the company in a research report on Monday, December 9th. Wells Fargo & Company cut their target price on shares of Adobe from $700.00 to $640.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 7th. DA Davidson lowered their price target on shares of Adobe from $685.00 to $625.00 and set a "buy" rating on the stock in a report on Thursday, December 12th. Jefferies Financial Group dropped their price target on Adobe from $700.00 to $650.00 and set a "buy" rating on the stock in a research note on Thursday, December 12th. Finally, Mizuho cut their price target on shares of Adobe from $640.00 to $620.00 and set an "outperform" rating on the stock in a research note on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $573.00.

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.