Adobe Inc. (NASDAQ:ADBE) Stake Boosted by Sabal Trust CO

Sabal Trust CO increased its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 24.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,127 shares of the software company's stock after purchasing an additional 1,007 shares during the period. Sabal Trust CO's holdings in Adobe were worth $2,280,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Legacy Investment Solutions LLC purchased a new stake in shares of Adobe in the third quarter valued at $26,000. Groupama Asset Managment grew its position in shares of Adobe by 28.8% in the third 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 during the period. MidAtlantic Capital Management Inc. purchased a new stake in shares of Adobe in the third quarter valued at $30,000. True Wealth Design LLC grew its position in shares of Adobe by 141.7% in the third 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 during the period. Finally, Decker Retirement Planning Inc. purchased a new stake in shares of Adobe in the fourth quarter valued at $31,000. Hedge funds and other institutional investors own 81.79% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $590.00 price objective on shares of Adobe in a research report on Thursday, February 13th. TD Cowen downgraded Adobe from a "buy" rating to a "hold" rating and lowered their price target for the company from $625.00 to $550.00 in a research report on Thursday, December 12th. UBS Group lowered their price target on Adobe from $525.00 to $475.00 and set a "neutral" rating for the company in a research report on Friday, January 3rd. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $475.00 price target (down previously from $600.00) on shares of Adobe in a research report on Wednesday, January 8th. Finally, Sanford C. Bernstein lowered their price target on Adobe from $644.00 to $587.00 and set an "outperform" 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 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 an average rating of "Moderate Buy" and an average price target of $570.88.

Insider Buying and Selling at Adobe

In other Adobe news, Director Amy Banse sold 606 shares of the company's stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $550.00, for a total transaction of $333,300.00. Following the sale, the director now owns 32,929 shares in the company, valued at $18,110,950. This represents a 1.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Jillian Forusz sold 334 shares of the company's stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $435.83, for a total value of $145,567.22. Following the sale, the chief accounting officer now owns 2,685 shares in the company, valued at $1,170,203.55. The trade was a 11.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,681 shares of company stock worth $2,525,126 over the last quarter. 0.15% of the stock is owned by corporate insiders.

Adobe Stock Up 0.3 %

Shares of NASDAQ:ADBE traded up $1.30 during trading on Friday, hitting $438.49. The company's stock had a trading volume of 3,936,248 shares, compared to its average volume of 3,474,121. 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 Inc. has a fifty-two week low of $403.75 and a fifty-two week high of $587.75. The stock's 50-day moving average price is $439.71 and its two-hundred day moving average price is $491.24. 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.

Adobe (NASDAQ:ADBE - Get Free Report) last announced its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 earnings per share (EPS) 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 firm had revenue of $5.61 billion for the quarter, compared to analysts' expectations of $5.54 billion. During the same quarter in the prior year, the firm posted $3.52 earnings per share. Adobe's revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, sell-side analysts expect that Adobe Inc. will post 16.65 EPS 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.