Slow Capital Inc. Increases Position in Adobe Inc. (NASDAQ:ADBE)

Slow Capital Inc. grew its position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 9.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,250 shares of the software company's stock after buying an additional 639 shares during the quarter. Slow Capital Inc.'s holdings in Adobe were worth $3,224,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of ADBE. Piscataqua Savings Bank lifted its holdings in shares of Adobe by 226.7% during the 3rd quarter. Piscataqua Savings Bank now owns 49 shares of the software company's stock valued at $25,000 after buying an additional 34 shares during the period. Legacy Investment Solutions LLC bought a new position in Adobe in the 3rd quarter worth $26,000. Groupama Asset Managment raised its holdings in 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 purchasing an additional 11,522 shares during the period. MidAtlantic Capital Management Inc. bought a new position in Adobe in the 3rd quarter worth $30,000. Finally, True Wealth Design LLC raised its holdings in Adobe by 141.7% in the 3rd quarter. True Wealth Design LLC now owns 58 shares of the software company's stock worth $30,000 after purchasing an additional 34 shares during the period. 81.79% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ADBE. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $475.00 target price (down from $600.00) on shares of Adobe in a report on Wednesday, January 8th. TD Cowen cut Adobe from a "buy" rating to a "hold" rating and decreased their target price for the stock from $625.00 to $550.00 in a report on Thursday, December 12th. Barclays decreased their target price on Adobe from $675.00 to $645.00 and set an "overweight" rating on the stock in a report on Thursday, December 12th. UBS Group cut their price target on Adobe from $525.00 to $475.00 and set a "neutral" rating for the company in a research note on Friday, January 3rd. Finally, DA Davidson cut their price target on Adobe from $685.00 to $625.00 and set a "buy" rating for the company in a research note on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $573.00.

Adobe Trading Up 0.9 %

ADBE traded up $4.10 on Tuesday, hitting $442.70. The company had a trading volume of 5,375,388 shares, compared to its average volume of 4,064,137. The company has a market cap of $192.71 billion, a PE ratio of 35.70, a PEG ratio of 2.12 and a beta of 1.31. Adobe Inc. has a 12-month low of $403.75 and a 12-month high of $638.25. 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 business's fifty day simple moving average is $466.93 and its 200 day simple moving average is $506.42.

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, topping the consensus estimate of $4.67 by $0.14. The business had revenue of $5.61 billion during 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 quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the firm earned $3.52 earnings per share. Equities research analysts expect that Adobe Inc. will post 16.65 EPS for the current year.

Insiders Place Their Bets

In related news, 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 transaction, the director now directly owns 32,929 shares of the company's stock, valued at $18,110,950. This trade 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 Adobe stock in a transaction that occurred on Tuesday, January 28th. The shares were 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 in the company, valued at approximately $1,170,203.55. The trade was a 11.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,681 shares of company stock valued at $2,525,126 over the last 90 days. Insiders own 0.15% of the company's stock.

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.