Wealth Enhancement Advisory Services LLC Has $44.09 Million Holdings in Adobe Inc. (NASDAQ:ADBE)

Wealth Enhancement Advisory Services LLC raised its position in Adobe Inc. (NASDAQ:ADBE - Free Report) by 1.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 99,150 shares of the software company's stock after acquiring an additional 1,326 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Adobe were worth $44,090,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. State Street Corp lifted its stake in Adobe by 1.2% during the third quarter. State Street Corp now owns 20,270,287 shares of the software company's stock worth $10,495,544,000 after purchasing an additional 234,909 shares during the period. Geode Capital Management LLC lifted its position 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 during the period. FMR LLC boosted its stake in Adobe by 8.8% in the 3rd quarter. FMR LLC now owns 9,690,163 shares of the software company's stock valued at $5,017,373,000 after buying an additional 787,356 shares in the last quarter. Fisher Asset Management LLC grew its position in Adobe by 2.0% in the third quarter. Fisher Asset Management LLC now owns 4,859,584 shares of the software company's stock valued at $2,516,196,000 after acquiring an additional 93,143 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Adobe by 3.1% during the third 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 in the last quarter. Institutional investors own 81.79% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Morgan Stanley reaffirmed an "overweight" rating and set a $660.00 price objective on shares of Adobe in a research note on Friday, September 13th. JMP Securities restated a "market perform" rating on shares of Adobe in a research report on Thursday, December 12th. Citigroup reduced their price objective on Adobe from $616.00 to $590.00 and set a "neutral" rating on the stock in a research note on Monday, December 9th. Jefferies Financial Group lowered their target price on Adobe from $700.00 to $650.00 and set a "buy" rating for the company in a research note on Thursday, December 12th. Finally, StockNews.com upgraded shares of Adobe from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, December 18th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Adobe presently has an average rating of "Moderate Buy" and a consensus price target of $575.85.

Adobe Stock Down 3.3 %

Shares of ADBE traded down $13.66 on Friday, hitting $405.92. The company's stock had a trading volume of 5,549,778 shares, compared to its average volume of 4,226,834. The firm's fifty day moving average price is $484.01 and its 200-day moving average price is $517.08. Adobe Inc. has a fifty-two week low of $405.32 and a fifty-two week high of $638.25. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $178.69 billion, a price-to-earnings ratio of 32.74, a P/E/G ratio of 2.51 and a beta of 1.31.

Adobe (NASDAQ:ADBE - Get Free Report) last issued 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 company 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 45.22%. The firm's revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.52 earnings per share. On average, equities research analysts expect that Adobe Inc. will post 16.73 EPS for the current year.

Insider Buying and Selling at Adobe

In other Adobe news, EVP Scott Belsky sold 481 shares of the business's stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $483.42, for a total transaction of $232,525.02. Following the transaction, the executive vice president now owns 18,128 shares of the company's stock, valued at $8,763,437.76. The trade was a 2.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Amy Banse sold 606 shares of the stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $550.00, for a total value of $333,300.00. Following the completion of the sale, the director now directly owns 32,929 shares of the company's stock, valued at approximately $18,110,950. The trade was a 1.81 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,293 shares of company stock worth $1,679,809. Corporate insiders own 0.15% of the company's stock.

About Adobe

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.