Greystone Financial Group LLC Grows Holdings in Adobe Inc. (NASDAQ:ADBE)

Greystone Financial Group LLC boosted its position in shares of Adobe Inc. (NASDAQ:ADBE) by 37.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 1,731 shares of the software company’s stock after acquiring an additional 469 shares during the quarter. Greystone Financial Group LLC’s holdings in Adobe were worth $770,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in ADBE. Swedbank AB boosted its holdings in Adobe by 0.3% in the 3rd quarter. Swedbank AB now owns 1,196,175 shares of the software company’s stock worth $619,355,000 after buying an additional 3,739 shares during the period. McAdam LLC lifted its position in shares of Adobe by 31.4% in the third quarter. McAdam LLC now owns 498 shares of the software company’s stock valued at $258,000 after acquiring an additional 119 shares in the last quarter. YHB Investment Advisors Inc. boosted its stake in shares of Adobe by 25.8% in the third quarter. YHB Investment Advisors Inc. now owns 1,200 shares of the software company’s stock worth $621,000 after acquiring an additional 246 shares during the period. Romano Brothers AND Company boosted its stake in shares of Adobe by 10.8% in the third quarter. Romano Brothers AND Company now owns 1,385 shares of the software company’s stock worth $717,000 after acquiring an additional 135 shares during the period. Finally, Mcdaniel Terry & Co. grew its position in shares of Adobe by 2.5% during the third quarter. Mcdaniel Terry & Co. now owns 37,352 shares of the software company’s stock worth $19,340,000 after purchasing an additional 924 shares in the last quarter. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Insider Activity at Adobe

In related news, EVP Scott Belsky sold 922 shares of Adobe stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $437.28, for a total transaction of $403,172.16. Following the completion of the sale, the executive vice president now owns 22,153 shares in the company, valued at $9,687,063.84. This trade represents a 4.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Jillian Forusz sold 334 shares of the business’s stock in a transaction dated Tuesday, January 28th. The shares were 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 directly owns 2,685 shares of the company’s stock, valued at approximately $1,170,203.55. This trade represents a 11.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,681 shares of company stock worth $2,525,126 in the last quarter. 0.15% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

ADBE has been the topic of a number of research analyst reports. Redburn Atlantic assumed coverage on Adobe in a report on Wednesday. They issued a “neutral” rating on the stock. Bank of America lowered their target price on shares of Adobe from $640.00 to $605.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Citigroup cut their target price on shares of Adobe from $616.00 to $590.00 and set a “neutral” rating for the company in a research note on Monday, December 9th. Jefferies Financial Group reduced their price target on shares of Adobe from $700.00 to $650.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Finally, TD Cowen downgraded shares of Adobe from a “buy” rating to a “hold” rating and dropped their price objective for the company from $625.00 to $550.00 in a report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $570.88.

Adobe Price Performance

Adobe stock opened at $444.32 on Friday. The firm has a market capitalization of $193.41 billion, a PE ratio of 35.83, a price-to-earnings-growth ratio of 2.21 and a beta of 1.31. Adobe Inc. has a 12-month low of $403.75 and a 12-month high of $587.75. The firm has a 50-day moving average price of $440.46 and a 200-day moving average price of $494.16. 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 (NASDAQ:ADBE) last announced its 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 business had revenue of $5.61 billion during the quarter, compared to analyst estimates of $5.54 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.52 earnings per share. As a group, equities research analysts forecast that Adobe Inc. will post 16.65 EPS for the current year.

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.