Jamison Private Wealth Management Inc. Acquires 258 Shares of Adobe Inc. (NASDAQ:ADBE)

Jamison Private Wealth Management Inc. increased its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 17.8% during the fourth quarter, HoldingsChannel reports. The firm owned 1,708 shares of the software company’s stock after buying an additional 258 shares during the period. Jamison Private Wealth Management Inc.’s holdings in Adobe were worth $760,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Piscataqua Savings Bank boosted its holdings in shares of Adobe by 226.7% during the 3rd quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock valued at $25,000 after acquiring an additional 34 shares during the last quarter. Legacy Investment Solutions LLC bought a new stake in Adobe in the 3rd quarter worth approximately $26,000. Groupama Asset Managment raised its stake in Adobe by 28.8% during the 3rd quarter. Groupama Asset Managment now owns 51,482 shares of the software company’s stock valued at $27,000 after buying an additional 11,522 shares during the last quarter. MidAtlantic Capital Management Inc. bought a new position in shares of Adobe during the 3rd quarter valued at $30,000. Finally, True Wealth Design LLC boosted its stake in shares of 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 buying an additional 34 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors.

Adobe Stock Performance

NASDAQ:ADBE opened at $435.38 on Friday. 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 stock’s fifty day moving average is $468.14 and its 200 day moving average is $508.06. The firm has a market capitalization of $189.52 billion, a PE ratio of 35.11, a PEG ratio of 2.12 and a beta of 1.31. Adobe Inc. has a fifty-two week low of $403.75 and a fifty-two week high of $638.25.

Adobe (NASDAQ:ADBE) last released its earnings results 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 firm had revenue of $5.61 billion during the quarter, compared to analyst estimates of $5.54 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The business’s revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the business earned $3.52 EPS. On average, sell-side analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently commented on the company. DA Davidson reduced their price objective on Adobe from $685.00 to $625.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $475.00 price objective (down previously from $600.00) on shares of Adobe in a research note on Wednesday, January 8th. Stifel Nicolaus cut their target price on shares of Adobe from $650.00 to $600.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. Barclays decreased their price target on shares of Adobe from $675.00 to $645.00 and set an “overweight” rating on the stock in a research report on Thursday, December 12th. Finally, Jefferies Financial Group cut their price objective on shares of Adobe from $700.00 to $650.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $573.00.

Insider Transactions at Adobe

In other news, Director Amy Banse sold 606 shares of the company’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $550.00, for a total value of $333,300.00. Following the transaction, the director now directly owns 32,929 shares in the company, valued at approximately $18,110,950. This represents a 1.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Jillian Forusz sold 676 shares of the business’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $484.97, for a total transaction of $327,839.72. Following the completion of the sale, the chief accounting officer now directly owns 2,715 shares of the company’s stock, valued at approximately $1,316,693.55. This trade represents a 19.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.15% of the company’s stock.

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.