North Point Portfolio Managers Corp OH Buys 13,620 Shares of Adobe Inc. (NASDAQ:ADBE)

North Point Portfolio Managers Corp OH increased its position in Adobe Inc. (NASDAQ:ADBE - Free Report) by 1,735.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 14,405 shares of the software company's stock after purchasing an additional 13,620 shares during the period. North Point Portfolio Managers Corp OH's holdings in Adobe were worth $6,406,000 at the end of the most recent quarter.

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

Insider Transactions at Adobe

In related news, CAO Jillian Forusz sold 676 shares of the company's stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $484.97, for a total transaction of $327,839.72. Following the completion of the sale, the chief accounting officer now owns 2,715 shares of the company's stock, valued at $1,316,693.55. This represents a 19.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Amy Banse sold 606 shares of Adobe stock in a transaction that occurred on Friday, December 6th. The shares were 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 in the company, valued at $18,110,950. This trade represents a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.15% of the stock is owned by company insiders.

Adobe Trading Up 0.7 %

NASDAQ:ADBE traded up $3.21 during mid-day trading on Monday, hitting $438.59. The company had a trading volume of 3,887,054 shares, compared to its average volume of 3,894,808. The business's fifty day moving average is $468.14 and its two-hundred day moving average is $507.26. The firm has a market cap of $190.92 billion, a P/E ratio of 35.37, a P/E/G 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 company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 earnings per share (EPS) for the quarter, beating 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%. The firm's revenue was up 11.1% compared to the same quarter last year. During the same period last year, the company earned $3.52 earnings per share. As a group, research analysts expect that Adobe Inc. will post 16.65 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Barclays reduced their price objective on Adobe from $675.00 to $645.00 and set an "overweight" rating for the company in a research note on Thursday, December 12th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $475.00 price target (down from $600.00) on shares of Adobe in a research note on Wednesday, January 8th. UBS Group reduced their target price on shares of Adobe from $525.00 to $475.00 and set a "neutral" rating on the stock in a report on Friday, January 3rd. StockNews.com downgraded Adobe from a "strong-buy" rating to a "buy" rating in a research note on Monday, January 20th. Finally, TD Cowen cut Adobe from a "buy" rating to a "hold" rating and dropped their target price for the stock from $625.00 to $550.00 in a research report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $573.00.

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.