Arlington Partners LLC Has $3.53 Million Holdings in Adobe Inc. (NASDAQ:ADBE)

Arlington Partners LLC increased its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 5.2% in the fourth quarter, Holdings Channel reports. The firm owned 7,942 shares of the software company’s stock after buying an additional 391 shares during the quarter. Arlington Partners LLC’s holdings in Adobe were worth $3,532,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in ADBE. Piscataqua Savings Bank grew its stake in shares of Adobe by 226.7% during the third quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock worth $25,000 after purchasing an additional 34 shares during the period. Legacy Investment Solutions LLC acquired a new stake in shares of Adobe during the third quarter worth $26,000. Groupama Asset Managment grew its stake in shares of Adobe by 28.8% during the third quarter. Groupama Asset Managment now owns 51,482 shares of the software company’s stock worth $27,000 after purchasing an additional 11,522 shares during the period. MidAtlantic Capital Management Inc. acquired a new position in Adobe in the third quarter valued at about $30,000. Finally, True Wealth Design LLC grew its stake in Adobe by 141.7% in the third quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock valued at $30,000 after acquiring an additional 34 shares during the period. 81.79% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on ADBE shares. UBS Group decreased their target price on Adobe from $525.00 to $475.00 and set a “neutral” rating for the company in a research note on Friday, January 3rd. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $475.00 target price (down from $600.00) on shares of Adobe in a research note on Wednesday, January 8th. Citigroup decreased their target price on Adobe from $616.00 to $590.00 and set a “neutral” rating for the company in a research note on Monday, December 9th. StockNews.com raised Adobe from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, January 28th. Finally, Bank of America decreased their target price on Adobe from $640.00 to $605.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $573.00.

Insider Activity

In related news, EVP Scott Belsky sold 922 shares of the stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $437.28, for a total transaction of $403,172.16. Following the sale, the executive vice president now owns 22,153 shares of the company’s stock, valued at $9,687,063.84. This represents a 4.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Amy Banse sold 606 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 32,929 shares in the company, valued at $18,110,950. This represents a 1.81 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,681 shares of company stock valued at $2,525,126. 0.15% of the stock is owned by insiders.

Adobe Price Performance

Shares of NASDAQ ADBE opened at $433.07 on Monday. The business’s 50 day moving average price is $453.92 and its two-hundred day moving average price is $499.31. The company has a market cap of $188.52 billion, a PE ratio of 34.93, a price-to-earnings-growth ratio of 2.11 and a beta of 1.31. 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 Inc. has a twelve month low of $403.75 and a twelve month high of $628.07.

Adobe (NASDAQ:ADBE) last posted its earnings results on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $5.54 billion. During the same quarter in the prior year, the business earned $3.52 earnings per share. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. On average, analysts predict that Adobe Inc. will post 16.65 EPS for the current year.

About Adobe

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.