Parkside Investments LLC Has $889,000 Stake in Adobe Inc. (NASDAQ:ADBE)

Parkside Investments LLC raised its stake in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 53.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,000 shares of the software company's stock after acquiring an additional 700 shares during the period. Parkside Investments LLC's holdings in Adobe were worth $889,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Piscataqua Savings Bank boosted its stake in shares of Adobe by 226.7% during the 3rd quarter. Piscataqua Savings Bank now owns 49 shares of the software company's stock worth $25,000 after acquiring an additional 34 shares in the last quarter. Legacy Investment Solutions LLC acquired a new position in shares of Adobe during the 3rd quarter worth $26,000. Groupama Asset Managment boosted its position 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 worth $27,000 after buying an additional 11,522 shares in the last quarter. MidAtlantic Capital Management Inc. acquired a new stake in Adobe in the 3rd quarter valued at about $30,000. Finally, True Wealth Design LLC increased its holdings in 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 acquiring an additional 34 shares in the last quarter. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Adobe Stock Performance

NASDAQ ADBE traded up $3.21 during midday 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 firm has a fifty day simple moving average of $468.14 and a two-hundred day simple moving average of $507.26. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29. Adobe Inc. has a fifty-two week low of $403.75 and a fifty-two week high of $638.25. The stock has a market cap of $190.92 billion, a price-to-earnings ratio of 35.37, a P/E/G ratio of 2.12 and a beta of 1.31.

Adobe (NASDAQ:ADBE - Get Free Report) last released its quarterly earnings data 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 for the quarter, compared to analyst estimates of $5.54 billion. During the same period in the prior year, the company posted $3.52 EPS. The company's revenue was up 11.1% compared to the same quarter last year. Equities analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ADBE. TD Cowen cut shares of Adobe from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $625.00 to $550.00 in a research note on Thursday, December 12th. StockNews.com downgraded Adobe from a "strong-buy" rating to a "buy" rating in a research report on Monday, January 20th. Royal Bank of Canada dropped their price objective on Adobe from $610.00 to $590.00 and set an "outperform" rating for the company in a research report on Thursday, December 12th. Bank of America decreased their price target on shares of Adobe from $640.00 to $605.00 and set a "buy" rating on the stock in a research note on Thursday, December 12th. Finally, 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. One analyst has rated the stock with a sell rating, ten have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $573.00.

Insider Transactions at Adobe

In other Adobe news, CAO Jillian Forusz sold 676 shares of Adobe stock in a transaction on 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 approximately $1,316,693.55. The trade was a 19.94 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Amy Banse sold 606 shares of the firm's stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $550.00, for a total value of $333,300.00. Following the transaction, the director now 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. Company 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.