Adobe Inc (NASDAQ:ADBE) Position Raised by Colony Group LLC

Colony Group LLC increased its position in shares of Adobe Inc (NASDAQ:ADBE) by 0.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 8,324 shares of the software company’s stock after buying an additional 66 shares during the quarter. Colony Group LLC’s holdings in Adobe were worth $2,745,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in ADBE. Johanson Financial Advisors Inc. raised its holdings in Adobe by 32,093.4% during the fourth quarter. Johanson Financial Advisors Inc. now owns 1,011,196 shares of the software company’s stock worth $3,066,000 after purchasing an additional 1,008,055 shares in the last quarter. Amundi Pioneer Asset Management Inc. raised its holdings in Adobe by 34.7% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 2,128,924 shares of the software company’s stock worth $702,139,000 after purchasing an additional 547,982 shares in the last quarter. SG Americas Securities LLC raised its holdings in Adobe by 2,978.6% during the fourth quarter. SG Americas Securities LLC now owns 384,766 shares of the software company’s stock worth $126,900,000 after purchasing an additional 372,268 shares in the last quarter. Marshall Wace North America L.P. raised its holdings in Adobe by 31.5% during the fourth quarter. Marshall Wace North America L.P. now owns 988,246 shares of the software company’s stock worth $325,933,000 after purchasing an additional 236,613 shares in the last quarter. Finally, UBS Asset Management Americas Inc. raised its holdings in Adobe by 6.6% during the fourth quarter. UBS Asset Management Americas Inc. now owns 3,745,712 shares of the software company’s stock worth $1,235,373,000 after purchasing an additional 232,899 shares in the last quarter. 85.18% of the stock is currently owned by hedge funds and other institutional investors.

Shares of ADBE opened at $305.91 on Thursday. Adobe Inc has a one year low of $255.13 and a one year high of $386.74. The company has a 50-day moving average of $345.53 and a two-hundred day moving average of $314.28. The stock has a market cap of $149.81 billion, a price-to-earnings ratio of 46.35, a PEG ratio of 2.38 and a beta of 0.99. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.23 and a quick ratio of 0.79.

Adobe (NASDAQ:ADBE) last announced its earnings results on Thursday, March 12th. The software company reported $2.27 EPS for the quarter, topping the consensus estimate of $2.23 by $0.04. Adobe had a net margin of 27.72% and a return on equity of 33.54%. The company had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $3.05 billion. During the same period last year, the company posted $1.71 earnings per share. The business’s revenue for the quarter was up 18.8% on a year-over-year basis. Analysts anticipate that Adobe Inc will post 8.02 earnings per share for the current year.

ADBE has been the topic of several recent analyst reports. Piper Jaffray Companies boosted their target price on Adobe from $339.00 to $360.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Stifel Nicolaus dropped their price target on Adobe from $350.00 to $325.00 and set a “buy” rating on the stock in a report on Friday, March 13th. Morgan Stanley increased their price objective on Adobe from $366.00 to $375.00 and gave the company an “overweight” rating in a research report on Wednesday. Royal Bank of Canada reduced their price objective on Adobe from to in a research note on Friday, March 13th. Finally, JPMorgan Chase & Co. upgraded Adobe from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $322.00 to $325.00 in a report on Friday, March 13th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. Adobe has a consensus rating of “Buy” and a consensus target price of $337.64.

In related news, EVP Scott Belsky sold 600 shares of the firm’s stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $301.40, for a total transaction of $180,840.00. Following the completion of the sale, the executive vice president now directly owns 13,655 shares in the company, valued at $4,115,617. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Charles M. Geschke sold 16,764 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $332.00, for a total transaction of $5,565,648.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 56,445 shares of company stock valued at $19,174,961. Corporate insiders own 0.31% of the company’s stock.

Adobe Profile

Adobe Inc operates as a diversified software company worldwide. Its Digital Media segment provides tools and solutions that enable individuals, small and medium businesses, and enterprises to create, publish, promote, and monetize their digital content. Its flagship product is Creative Cloud, a subscription service that allows customer to download and access the latest versions of its creative products.

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Institutional Ownership by Quarter for Adobe (NASDAQ:ADBE)

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