Adobe Inc. (NASDAQ:ADBE) Stock Holdings Lifted by Trust Co. of Vermont

Trust Co. of Vermont increased its position in Adobe Inc. (NASDAQ:ADBE) by 20.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 31,282 shares of the software company’s stock after purchasing an additional 5,248 shares during the period. Trust Co. of Vermont’s holdings in Adobe were worth $13,910,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ADBE. Piscataqua Savings Bank lifted its position in Adobe by 226.7% in the 3rd quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock worth $25,000 after buying an additional 34 shares in the last quarter. Legacy Investment Solutions LLC acquired a new position in shares of Adobe in the third quarter worth $26,000. Groupama Asset Managment boosted its position in Adobe by 28.8% during the third quarter. Groupama Asset Managment now owns 51,482 shares of the software company’s stock valued at $27,000 after purchasing an additional 11,522 shares during the last quarter. MidAtlantic Capital Management Inc. purchased a new position in Adobe in the third quarter valued at about $30,000. Finally, True Wealth Design LLC increased its position 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 last quarter. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Adobe Price Performance

NASDAQ:ADBE traded up $3.06 during trading hours on Friday, reaching $429.99. The company had a trading volume of 3,976,733 shares, compared to its average volume of 4,102,276. The firm has a market capitalization of $189.28 billion, a PE ratio of 34.68, a PEG ratio of 1.97 and a beta of 1.31. The stock has a 50-day moving average of $477.84 and a two-hundred day moving average of $513.73. Adobe Inc. has a one year low of $403.75 and a one year high of $638.25. The company has a quick ratio of 1.11, a current ratio of 1.07 and a debt-to-equity ratio of 0.29.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.67 by $0.14. The firm 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% on a year-over-year basis. During the same period last year, the firm posted $3.52 EPS. Analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current year.

Insiders Place Their Bets

In other Adobe news, Director Amy Banse sold 606 shares of the business’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $550.00, for a total transaction 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Scott Belsky sold 481 shares of Adobe 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 sale, the executive vice president now owns 18,128 shares of the company’s stock, valued at approximately $8,763,437.76. This represents a 2.58 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,763 shares of company stock valued at $893,665. 0.15% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ADBE. Sanford C. Bernstein reduced their price target on Adobe from $644.00 to $587.00 and set an “outperform” rating for the company in a report on Thursday, December 12th. Mizuho decreased their target price on shares of Adobe from $640.00 to $620.00 and set an “outperform” rating for the company in a research report on Thursday, December 12th. JMP Securities restated a “market perform” rating on shares of Adobe in a report on Thursday, December 12th. Bank of America decreased their price objective on shares of Adobe from $640.00 to $605.00 and set a “buy” rating for the company in a report on Thursday, December 12th. Finally, TD Cowen lowered Adobe from a “buy” rating to a “hold” rating and cut their target price for the company from $625.00 to $550.00 in a report on Thursday, December 12th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $573.00.

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.