766 Shares in Adobe Inc. (NASDAQ:ADBE) Bought by Whipplewood Advisors LLC

Whipplewood Advisors LLC purchased a new position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 766 shares of the software company's stock, valued at approximately $341,000.

Other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp lifted its stake in Adobe by 1.2% in the third quarter. State Street Corp now owns 20,270,287 shares of the software company's stock valued at $10,495,544,000 after buying an additional 234,909 shares during the last quarter. Geode Capital Management LLC lifted its stake in Adobe by 1.4% in the third quarter. Geode Capital Management LLC now owns 10,529,089 shares of the software company's stock valued at $5,435,377,000 after buying an additional 147,981 shares during the last quarter. FMR LLC lifted its stake in Adobe by 8.8% in the third 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 during the last quarter. Fisher Asset Management LLC lifted its stake 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 buying an additional 93,143 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Adobe by 3.1% in 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 valued at $2,455,079,000 after buying an additional 140,390 shares during the last quarter. Institutional investors and hedge funds own 81.79% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on ADBE shares. DA Davidson cut their price objective on shares of Adobe from $685.00 to $625.00 and set a "buy" rating on the stock in a research note 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 note on Friday, January 3rd. Redburn Atlantic assumed coverage on Adobe in a research report on Wednesday, February 19th. They set a "neutral" rating for the company. JMP Securities reissued a "market perform" rating on shares of Adobe in a research report on Thursday, December 12th. Finally, Barclays dropped their price objective on Adobe from $675.00 to $645.00 and set an "overweight" rating for the company in a research note on Thursday, December 12th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $570.88.

Adobe Stock Performance

Shares of NASDAQ ADBE traded up $1.30 during midday trading on Friday, hitting $438.49. 3,936,248 shares of the company's stock were exchanged, compared to its average volume of 3,474,121. The company's 50 day moving average price is $439.71 and its 200 day moving average price is $490.93. The firm has a market capitalization of $190.87 billion, a PE ratio of 35.36, a price-to-earnings-growth ratio of 2.15 and a beta of 1.31. Adobe Inc. has a 12 month low of $403.75 and a 12 month high of $587.75. 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 (NASDAQ:ADBE - Get Free Report) last posted its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 EPS 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 company had revenue of $5.61 billion during the quarter, compared to analysts' expectations of $5.54 billion. During the same quarter in the previous year, the firm earned $3.52 EPS. Adobe's revenue was up 11.1% on a year-over-year basis. As a group, analysts predict that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Insider Transactions at Adobe

In other Adobe news, CAO Jillian Forusz sold 334 shares of the firm's stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total value of $145,567.22. Following the completion of the sale, the chief accounting officer now directly owns 2,685 shares of the company's stock, valued at $1,170,203.55. This trade represents a 11.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Amy Banse sold 606 shares of the firm's stock in a transaction on Friday, December 6th. The stock was 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 $18,110,950. This represents a 1.81 % 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 ninety days. 0.15% of the stock is currently owned by insiders.

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.