Adobe Inc. (NASDAQ:ADBE) Stock Position Increased by Gilder Gagnon Howe & Co. LLC

Gilder Gagnon Howe & Co. LLC lifted its holdings in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 2.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,875 shares of the software company's stock after purchasing an additional 881 shares during the period. Gilder Gagnon Howe & Co. LLC's holdings in Adobe were worth $14,619,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Decker Retirement Planning Inc. purchased a new stake in shares of Adobe during the fourth quarter worth about $31,000. Summit Securities Group LLC purchased a new stake in Adobe in the 4th quarter worth approximately $31,000. Caitlin John LLC raised its holdings 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 during the last quarter. Avion Wealth lifted its stake in shares of Adobe by 112.2% during the 4th quarter. Avion Wealth now owns 87 shares of the software company's stock worth $38,000 after purchasing an additional 46 shares during the period. Finally, Mascoma Wealth Management LLC boosted its holdings in shares of Adobe by 142.9% during the fourth quarter. Mascoma Wealth Management LLC now owns 85 shares of the software company's stock worth $38,000 after purchasing an additional 50 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ADBE. Morgan Stanley cut their price objective on shares of Adobe from $600.00 to $510.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. UBS Group reduced their price objective on Adobe from $410.00 to $380.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $475.00 target price (down previously from $600.00) on shares of Adobe in a research report on Wednesday, January 8th. Robert W. Baird decreased their price objective on shares of Adobe from $490.00 to $410.00 and set a "neutral" rating for the company in a research note on Wednesday, March 19th. Finally, Royal Bank of Canada dropped their price objective on shares of Adobe from $530.00 to $480.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. Eleven 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's stock. Based on data from MarketBeat, Adobe presently has a consensus rating of "Moderate Buy" and a consensus price target of $502.88.

Adobe Stock Performance

Shares of ADBE traded up $2.36 during mid-day trading on Tuesday, hitting $370.98. The stock had a trading volume of 2,193,842 shares, compared to its average volume of 3,434,111. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29. The company has a market cap of $158.11 billion, a PE ratio of 29.92, a PEG ratio of 2.15 and a beta of 1.49. Adobe Inc. has a fifty-two week low of $332.01 and a fifty-two week high of $587.75. The company's fifty day simple moving average is $391.12 and its two-hundred day simple moving average is $443.78.

Adobe (NASDAQ:ADBE - Get Free Report) last issued its earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share for the quarter, topping analysts' consensus estimates of $4.97 by $0.11. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The company had revenue of $5.71 billion for the quarter, compared to analysts' expectations of $5.66 billion. During the same period in the prior year, the company earned $4.48 earnings per share. On average, equities analysts expect that Adobe Inc. will post 16.65 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Daniel Durn acquired 1,300 shares of Adobe stock in a transaction that occurred on Thursday, March 20th. The stock was acquired at an average price of $390.58 per share, for a total transaction of $507,754.00. Following the transaction, the chief financial officer now directly owns 29,876 shares of the company's stock, valued at $11,668,968.08. This trade represents a 4.55 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.16% of the stock is currently owned by corporate insiders.

Adobe Company 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.