Adobe Inc. (NASDAQ:ADBE) Stock Holdings Reduced by Quadcap Wealth Management LLC

Quadcap Wealth Management LLC lessened its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 11.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,590 shares of the software company’s stock after selling 319 shares during the quarter. Quadcap Wealth Management LLC’s holdings in Adobe were worth $1,152,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in ADBE. Norges Bank bought a new stake in shares of Adobe during the 4th quarter worth about $2,553,035,000. Proficio Capital Partners LLC boosted its stake in Adobe by 82,528.8% during the 4th quarter. Proficio Capital Partners LLC now owns 1,042,775 shares of the software company’s stock valued at $463,701,000 after purchasing an additional 1,041,513 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in Adobe by 82.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,107,788 shares of the software company’s stock valued at $937,291,000 after purchasing an additional 952,233 shares during the period. The Manufacturers Life Insurance Company boosted its stake in Adobe by 225.9% during the 4th quarter. The Manufacturers Life Insurance Company now owns 1,075,945 shares of the software company’s stock valued at $478,453,000 after purchasing an additional 745,827 shares during the period. Finally, FIL Ltd boosted its stake in Adobe by 130.9% during the 4th quarter. FIL Ltd now owns 1,288,599 shares of the software company’s stock valued at $573,014,000 after purchasing an additional 730,520 shares during the period. Institutional investors own 81.79% of the company’s stock.

Insider Buying and Selling at Adobe

In related news, CFO Daniel Durn purchased 1,300 shares of Adobe stock in a transaction dated Thursday, March 20th. The shares were acquired at an average cost of $390.58 per share, for a total transaction of $507,754.00. Following the transaction, the chief financial officer now directly owns 29,876 shares of the company’s stock, valued at approximately $11,668,968.08. This trade represents a 4.55% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.16% of the company’s stock.

Adobe Stock Up 0.5%

Shares of ADBE opened at $399.47 on Thursday. The firm has a market capitalization of $170.25 billion, a price-to-earnings ratio of 32.22, a PEG ratio of 2.15 and a beta of 1.55. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07. The business’s fifty day moving average price is $376.62 and its two-hundred day moving average price is $435.30. Adobe Inc. has a 52 week low of $332.01 and a 52 week high of $587.75.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Wednesday, March 12th. The software company reported $5.08 EPS for the quarter, beating analysts’ consensus estimates of $4.97 by $0.11. The firm had revenue of $5.71 billion for the quarter, compared to analyst estimates of $5.66 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. During the same period last year, the company earned $4.48 EPS. On average, analysts predict that Adobe Inc. will post 16.65 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Bank of America decreased their target price on Adobe from $605.00 to $528.00 and set a “buy” rating for the company in a research note on Thursday, March 13th. Redburn Atlantic assumed coverage on Adobe in a research note on Wednesday, February 19th. They set a “neutral” rating for the company. JPMorgan Chase & Co. decreased their target price on Adobe from $580.00 to $540.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. BNP Paribas raised Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 price target for the company in a report on Wednesday, January 15th. Finally, Wells Fargo & Company cut their price target on Adobe from $600.00 to $430.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. Eleven investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $502.88.

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.