Trilogy Capital Inc. Purchases 1,582 Shares of Adobe Inc. (NASDAQ:ADBE)

Trilogy Capital Inc. increased its holdings in Adobe Inc. (NASDAQ:ADBE) by 47.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,918 shares of the software company’s stock after acquiring an additional 1,582 shares during the quarter. Trilogy Capital Inc.’s holdings in Adobe were worth $2,187,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in the business. International Assets Investment Management LLC grew its holdings in shares of Adobe by 66,909.7% in the third quarter. International Assets Investment Management LLC now owns 1,378,390 shares of the software company’s stock worth $713,703,000 after acquiring an additional 1,376,333 shares during the period. FMR LLC boosted its holdings in shares of Adobe by 8.8% in the third quarter. FMR LLC now owns 9,690,163 shares of the software company’s stock worth $5,017,373,000 after buying an additional 787,356 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in Adobe by 42.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,168,584 shares of the software company’s stock valued at $519,646,000 after buying an additional 347,536 shares during the last quarter. Seilern Investment Management Ltd purchased a new position in shares of Adobe during the 4th quarter worth $110,744,000. Finally, Erste Asset Management GmbH bought a new stake in shares of Adobe during the 3rd quarter valued at $126,703,000. Institutional investors own 81.79% of the company’s stock.

Adobe Stock Down 0.6 %

ADBE stock opened at $437.63 on Thursday. The stock has a market capitalization of $190.50 billion, a P/E ratio of 35.29, a price-to-earnings-growth ratio of 2.12 and a beta of 1.31. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29. Adobe Inc. has a 12 month low of $403.75 and a 12 month high of $628.07. The firm has a 50-day moving average price of $458.66 and a 200-day moving average price of $501.38.

Adobe (NASDAQ:ADBE) last released its earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 25.85% and a return on equity of 45.87%. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.52 EPS. As a group, equities research analysts anticipate that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Insiders Place Their Bets

In other Adobe news, CAO Jillian Forusz sold 334 shares of the stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $435.83, for a total value of $145,567.22. Following the sale, the chief accounting officer now directly owns 2,685 shares in the company, valued at $1,170,203.55. This represents a 11.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director David A. Ricks purchased 2,250 shares of the firm’s stock in a transaction dated Tuesday, January 28th. The stock was bought at an average cost of $443.98 per share, for a total transaction of $998,955.00. Following the acquisition, the director now directly owns 4,984 shares in the company, valued at approximately $2,212,796.32. The trade was a 82.30 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 5,681 shares of company stock valued at $2,525,126. Corporate insiders own 0.15% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Bank of America decreased their target price on Adobe from $640.00 to $605.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. UBS Group lowered their price target on shares of Adobe from $525.00 to $475.00 and set a “neutral” rating for the company in a report on Friday, January 3rd. Mizuho decreased their price objective on Adobe from $640.00 to $620.00 and set an “outperform” rating on the stock in a research report on Thursday, December 12th. Barclays cut their target price on Adobe from $675.00 to $645.00 and set an “overweight” rating on the stock in a research report on Thursday, December 12th. Finally, BMO Capital Markets lowered their target price on shares of Adobe from $600.00 to $570.00 and set an “outperform” rating for the company in a report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Adobe currently has an average rating of “Moderate Buy” and an average target price 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.