K.J. Harrison & Partners Inc Has $239,000 Position in Adobe Inc. (NASDAQ:ADBE)

K.J. Harrison & Partners Inc decreased its position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 89.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 542 shares of the software company's stock after selling 4,625 shares during the period. K.J. Harrison & Partners Inc's holdings in Adobe were worth $239,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC acquired a new position in shares of Adobe in the third quarter worth about $26,000. Groupama Asset Managment increased its holdings in Adobe by 28.8% during the 3rd quarter. Groupama Asset Managment now owns 51,482 shares of the software company's stock worth $27,000 after purchasing an additional 11,522 shares during the last quarter. MidAtlantic Capital Management Inc. acquired a new position in shares of Adobe in the 3rd quarter valued at approximately $30,000. True Wealth Design LLC boosted its stake in shares of Adobe by 141.7% during the 3rd quarter. True Wealth Design LLC now owns 58 shares of the software company's stock valued at $30,000 after buying an additional 34 shares during the last quarter. Finally, Decker Retirement Planning Inc. acquired a new stake in shares of Adobe during the fourth quarter worth approximately $31,000. Institutional investors and hedge funds own 81.79% of the company's stock.

Adobe Price Performance

Shares of ADBE traded up $1.30 during trading hours on Friday, hitting $438.49. 3,936,248 shares of the company were exchanged, compared to its average volume of 3,474,121. The firm has a fifty day simple moving average of $439.71 and a 200-day simple moving average of $490.59. The company 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. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. Adobe Inc. has a one year low of $403.75 and a one year high of $587.75.

Adobe (NASDAQ:ADBE - Get Free Report) last released its quarterly earnings results 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. The business had revenue of $5.61 billion during the quarter, compared to analyst estimates of $5.54 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. Adobe's revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter last year, the company posted $3.52 EPS. As a group, sell-side analysts predict that Adobe Inc. will post 16.65 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have commented on ADBE shares. Mizuho reduced their price objective 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. TD Cowen cut shares of Adobe from a "buy" rating to a "hold" rating and reduced their price target for the stock from $625.00 to $550.00 in a research report on Thursday, December 12th. UBS Group cut their price objective on Adobe from $525.00 to $475.00 and set a "neutral" rating on the stock in a research note on Friday, January 3rd. BNP Paribas upgraded Adobe from an "underperform" rating to a "neutral" rating and set a $425.00 target price for the company in a research report on Wednesday, January 15th. Finally, Redburn Atlantic assumed coverage on Adobe in a research report on Wednesday, February 19th. They set a "neutral" rating on the stock. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $570.88.

Insider Transactions at Adobe

In related news, CAO Jillian Forusz sold 334 shares of the stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total value of $145,567.22. Following the completion of the sale, the chief accounting officer now directly owns 2,685 shares of the company's stock, valued at approximately $1,170,203.55. This represents a 11.06 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Amy Banse sold 606 shares of Adobe stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $550.00, for a total value of $333,300.00. Following the transaction, the director now directly owns 32,929 shares in the company, valued at approximately $18,110,950. This trade represents a 1.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,681 shares of company stock valued at $2,525,126 over the last ninety days. Corporate insiders own 0.15% of the company's stock.

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.