Howard Capital Management Inc. Purchases 417 Shares of Adobe Inc. (NASDAQ:ADBE)

Howard Capital Management Inc. increased its position in shares of Adobe Inc. (NASDAQ:ADBE) by 3.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,126 shares of the software company’s stock after buying an additional 417 shares during the period. Howard Capital Management Inc.’s holdings in Adobe were worth $6,282,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of ADBE. Swedbank AB raised its stake in Adobe by 0.3% during the third 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 last quarter. McAdam LLC raised its stake in Adobe by 31.4% during the third quarter. McAdam LLC now owns 498 shares of the software company’s stock worth $258,000 after buying an additional 119 shares during the last quarter. Sigma Investment Counselors Inc. raised its stake in Adobe by 13.1% during the third quarter. Sigma Investment Counselors Inc. now owns 9,495 shares of the software company’s stock worth $4,916,000 after buying an additional 1,097 shares during the last quarter. Legacy Wealth Asset Management LLC raised its stake in Adobe by 1.4% during the third quarter. Legacy Wealth Asset Management LLC now owns 3,824 shares of the software company’s stock worth $1,980,000 after buying an additional 51 shares during the last quarter. Finally, Signet Investment Advisory Group Inc. increased its stake in Adobe by 98.5% in the third quarter. Signet Investment Advisory Group Inc. now owns 8,363 shares of the software company’s stock valued at $4,330,000 after purchasing an additional 4,150 shares in the last quarter. Institutional investors own 81.79% of the company’s stock.

Insider Buying and Selling at Adobe

In other Adobe news, Director Amy Banse sold 606 shares of the business’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 $18,110,950. The trade was a 1.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Scott Belsky sold 3,819 shares of the business’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $430.24, for a total transaction of $1,643,086.56. Following the completion of the transaction, the executive vice president now owns 18,334 shares in the company, valued at approximately $7,888,020.16. The trade was a 17.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,681 shares of company stock worth $2,525,126 over the last three months. 0.15% of the stock is currently owned by insiders.

Adobe Stock Down 2.3 %

Adobe stock opened at $444.32 on Friday. Adobe Inc. has a fifty-two week low of $403.75 and a fifty-two week high of $587.75. The stock has a market cap of $193.41 billion, a PE ratio of 35.83, a price-to-earnings-growth ratio of 2.20 and a beta of 1.31. The firm’s 50-day simple moving average is $440.46 and its 200 day simple moving average is $494.02. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07.

Adobe (NASDAQ:ADBE) last released 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. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The business had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.54 billion. During the same period in the previous year, the company earned $3.52 earnings per share. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. Research analysts predict that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. DA Davidson decreased their price target on shares of Adobe from $685.00 to $625.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. Wells Fargo & Company decreased their price target on shares of Adobe from $700.00 to $640.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Citigroup decreased their price target 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. Bank of America decreased their price target on shares of Adobe from $640.00 to $605.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. Finally, BNP Paribas raised shares of Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 price target for the company in a research note on Wednesday, January 15th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Adobe currently has an average rating of “Moderate Buy” and an average target price of $570.88.

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.