Adobe Inc. (NASDAQ:ADBE) Shares Acquired by Middleton & Co. Inc. MA

Middleton & Co. Inc. MA raised its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 8.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,426 shares of the software company's stock after buying an additional 1,798 shares during the period. Middleton & Co. Inc. MA's holdings in Adobe were worth $9,972,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Legacy Investment Solutions LLC acquired a new stake in shares of Adobe in the 3rd quarter valued at $26,000. Groupama Asset Managment raised its holdings in shares of Adobe by 28.8% in the 3rd quarter. Groupama Asset Managment now owns 51,482 shares of the software company's stock valued at $27,000 after purchasing an additional 11,522 shares in the last quarter. MidAtlantic Capital Management Inc. acquired a new stake in shares of Adobe in the 3rd quarter valued at $30,000. True Wealth Design LLC raised its holdings in shares of Adobe by 141.7% in the 3rd quarter. True Wealth Design LLC now owns 58 shares of the software company's stock valued at $30,000 after purchasing an additional 34 shares in the last quarter. Finally, Decker Retirement Planning Inc. acquired a new stake in shares of Adobe in the 4th quarter valued at $31,000. Hedge funds and other institutional investors own 81.79% of the company's stock.

Insider Activity

In other Adobe news, Director David A. Ricks bought 2,250 shares of the business's stock in a transaction dated Tuesday, January 28th. The shares were acquired at an average price of $443.98 per share, with a total value of $998,955.00. Following the purchase, the director now owns 4,984 shares in the company, valued at approximately $2,212,796.32. The trade was a 82.30 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Scott Belsky sold 3,819 shares of the firm's stock in a transaction 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 transaction, the executive vice president now directly owns 18,334 shares in the company, valued at approximately $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 90 days, insiders have sold 5,681 shares of company stock valued at $2,525,126. Company insiders own 0.15% of the company's stock.

Adobe Trading Up 0.3 %

Shares of ADBE traded up $1.30 on Friday, hitting $438.49. 3,936,248 shares of the stock traded hands, compared to its average volume of 3,474,121. 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 firm has a market capitalization of $190.87 billion, a P/E ratio of 35.36, a P/E/G ratio of 2.15 and a beta of 1.31. Adobe Inc. has a 1 year low of $403.75 and a 1 year high of $587.75. The stock's 50 day moving average is $439.71 and its two-hundred day moving average is $490.59.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share 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 net margin of 25.85% and a return on equity of 45.87%. Adobe's revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the firm posted $3.52 earnings per share. As a group, sell-side analysts predict that Adobe Inc. will post 16.65 earnings per share for the current year.

Analyst Upgrades and Downgrades

ADBE has been the subject of a number of research reports. TD Cowen cut shares of Adobe from a "buy" rating to a "hold" rating and reduced their price target for the company from $625.00 to $550.00 in a research report on Thursday, December 12th. Redburn Atlantic initiated coverage on shares of Adobe in a research report on Wednesday, February 19th. They issued a "neutral" rating for the company. Jefferies Financial Group reduced their price target on shares of Adobe from $700.00 to $650.00 and set a "buy" rating for the company in a research report on Thursday, December 12th. Royal Bank of Canada reissued an "outperform" rating and issued a $590.00 price target on shares of Adobe in a research report on Thursday, February 13th. Finally, Stifel Nicolaus reduced their price target on shares of Adobe from $650.00 to $600.00 and set a "buy" rating for the company in a research report on Thursday, December 12th. 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 issued a strong buy rating to the company's stock. According to MarketBeat, Adobe has a consensus rating of "Moderate Buy" and an average target price of $570.88.

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.