Proficio Capital Partners LLC Raises Position in Adobe Inc. (NASDAQ:ADBE)

Proficio Capital Partners LLC lifted its holdings in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 82,528.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,042,775 shares of the software company's stock after buying an additional 1,041,513 shares during the period. Proficio Capital Partners LLC owned about 0.24% of Adobe worth $463,701,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the business. State Street Corp raised its holdings in shares of Adobe by 1.2% during the 3rd quarter. State Street Corp now owns 20,270,287 shares of the software company's stock worth $10,495,544,000 after buying an additional 234,909 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Adobe by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 10,529,089 shares of the software company's stock worth $5,435,377,000 after buying an additional 147,981 shares in the last quarter. FMR LLC grew its position in Adobe by 8.8% during the 3rd quarter. FMR LLC now owns 9,690,163 shares of the software company's stock worth $5,017,373,000 after acquiring an additional 787,356 shares during the last quarter. Fisher Asset Management LLC grew its position in Adobe by 2.0% during the 3rd quarter. Fisher Asset Management LLC now owns 4,859,584 shares of the software company's stock worth $2,516,196,000 after acquiring an additional 93,143 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Adobe by 3.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,741,549 shares of the software company's stock worth $2,455,079,000 after acquiring an additional 140,390 shares during the last quarter. Institutional investors and hedge funds own 81.79% of the company's stock.

Wall Street Analysts Forecast Growth

ADBE has been the topic of a number of research reports. Stifel Nicolaus reduced their price objective on Adobe from $650.00 to $600.00 and set a "buy" rating on the stock in a research report on Thursday, December 12th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $475.00 price objective (down previously from $600.00) on shares of Adobe in a research report on Wednesday, January 8th. Barclays reduced their price objective on Adobe from $675.00 to $645.00 and set an "overweight" rating on the stock in a research report on Thursday, December 12th. Bank of America reduced their price objective on Adobe from $640.00 to $605.00 and set a "buy" rating on the stock in a research report on Thursday, December 12th. Finally, BMO Capital Markets reduced their price objective on Adobe from $570.00 to $515.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Adobe presently has an average rating of "Moderate Buy" and a consensus price target of $570.88.

Insider Buying and Selling

In related news, CAO Jillian Forusz sold 334 shares of the company's stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total transaction of $145,567.22. Following the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Scott Belsky sold 922 shares of the company's stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $437.28, for a total value of $403,172.16. Following the transaction, the executive vice president now directly owns 22,153 shares in the company, valued at approximately $9,687,063.84. This trade represents a 4.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,681 shares of company stock valued at $2,525,126. 0.15% of the stock is owned by company insiders.

Adobe Trading Up 0.3 %

Shares of Adobe stock traded up $1.30 on Friday, hitting $438.49. 3,936,248 shares of the company's stock traded hands, compared to its average volume of 3,474,121. Adobe Inc. has a one year low of $403.75 and a one year high of $587.75. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. The company has a fifty day moving average of $439.71 and a two-hundred day moving average of $490.93. The company has a market capitalization of $190.87 billion, a price-to-earnings ratio of 35.36, a price-to-earnings-growth ratio of 2.15 and a beta of 1.31.

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. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The business had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $5.54 billion. During the same period in the prior year, the business earned $3.52 EPS. The firm's revenue for the quarter was up 11.1% on a year-over-year basis. As a group, sell-side analysts expect that Adobe Inc. will post 16.65 earnings per share for the current year.

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.