Sanctuary Advisors LLC Buys 8,938 Shares of Adobe Inc. (NASDAQ:ADBE)

Sanctuary Advisors LLC increased its stake in Adobe Inc. (NASDAQ:ADBE) by 17.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 59,982 shares of the software company’s stock after buying an additional 8,938 shares during the quarter. Sanctuary Advisors LLC’s holdings in Adobe were worth $26,752,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Catalyst Capital Advisors LLC lifted its position in Adobe by 108.1% in the fourth quarter. Catalyst Capital Advisors LLC now owns 1,074 shares of the software company’s stock worth $478,000 after buying an additional 558 shares during the last quarter. Philip James Wealth Mangement LLC increased its stake in Adobe by 14.3% in the fourth quarter. Philip James Wealth Mangement LLC now owns 464 shares of the software company’s stock worth $206,000 after purchasing an additional 58 shares during the period. Capital Performance Advisors LLP increased its stake in Adobe by 282.4% in the fourth quarter. Capital Performance Advisors LLP now owns 761 shares of the software company’s stock worth $338,000 after purchasing an additional 562 shares during the period. Sierra Ocean LLC purchased a new stake in Adobe in the fourth quarter worth $121,000. Finally, Meridiem Investment Management Ltd. increased its stake in Adobe by 1.3% in the fourth quarter. Meridiem Investment Management Ltd. now owns 212,801 shares of the software company’s stock worth $94,641,000 after purchasing an additional 2,829 shares during the period. 81.79% of the stock is currently owned by institutional investors.

Adobe Price Performance

Shares of NASDAQ ADBE opened at $460.16 on Monday. 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 company has a market cap of $200.31 billion, a PE ratio of 37.11, a P/E/G ratio of 2.11 and a beta of 1.31. The business has a 50-day simple moving average of $446.56 and a two-hundred day simple moving average of $496.59. Adobe Inc. has a fifty-two week low of $403.75 and a fifty-two week high of $607.32.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share for the quarter, topping the consensus estimate of $4.67 by $0.14. The business had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.54 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The company’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the company earned $3.52 earnings per share. As a group, equities analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Jillian Forusz sold 334 shares of Adobe stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total transaction of $145,567.22. Following the completion of the sale, the chief accounting officer now owns 2,685 shares of the company’s stock, valued at $1,170,203.55. The trade was a 11.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Amy Banse sold 606 shares of Adobe stock in a transaction dated 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 of the company’s stock, valued at $18,110,950. This trade represents a 1.81 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,681 shares of company stock valued at $2,525,126. 0.15% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

ADBE has been the topic of a number of recent analyst reports. BNP Paribas upgraded Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 target price on the stock in a research note on Wednesday, January 15th. DA Davidson reduced their target price on Adobe from $685.00 to $625.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. Jefferies Financial Group reduced their target price on Adobe from $700.00 to $650.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. TD Cowen lowered Adobe from a “buy” rating to a “hold” rating and reduced their target price for the stock from $625.00 to $550.00 in a research note on Thursday, December 12th. Finally, Oppenheimer reduced their target price on Adobe from $625.00 to $600.00 and set an “outperform” rating on the stock 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. Based on data from MarketBeat, Adobe currently has an average rating of “Moderate Buy” and an average target price of $573.00.

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.