Adobe Inc. (NASDAQ:ADBE) Shares Bought by Wellington Shields & Co. LLC

Wellington Shields & Co. LLC grew its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 4.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,196 shares of the software company’s stock after buying an additional 47 shares during the quarter. Wellington Shields & Co. LLC’s holdings in Adobe were worth $532,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in ADBE. Swedbank AB boosted its stake in shares of Adobe by 0.3% during the 3rd quarter. Swedbank AB now owns 1,196,175 shares of the software company’s stock valued at $619,355,000 after buying an additional 3,739 shares during the last quarter. United Bank boosted its stake in shares of Adobe by 19.7% during the 3rd quarter. United Bank now owns 2,596 shares of the software company’s stock valued at $1,344,000 after buying an additional 428 shares during the last quarter. MQS Management LLC purchased a new position in shares of Adobe during the 3rd quarter valued at approximately $234,000. Curi RMB Capital LLC boosted its stake in shares of Adobe by 2.2% during the 3rd quarter. Curi RMB Capital LLC now owns 17,983 shares of the software company’s stock valued at $9,311,000 after buying an additional 385 shares during the last quarter. Finally, Lifeworks Advisors LLC boosted its stake in shares of Adobe by 4.1% during the 3rd quarter. Lifeworks Advisors LLC now owns 664 shares of the software company’s stock valued at $344,000 after buying an additional 26 shares during the last quarter. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ADBE has been the topic of several research analyst reports. UBS Group reduced their price objective on Adobe from $475.00 to $460.00 and set a “neutral” rating on the stock in a research note on Thursday. BNP Paribas upgraded Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 price objective on the stock in a research note on Wednesday, January 15th. Robert W. Baird reduced their price objective on Adobe from $500.00 to $490.00 and set a “neutral” rating on the stock in a research note on Thursday. Sanford C. Bernstein reduced their price objective on Adobe from $644.00 to $587.00 and set an “outperform” rating on the stock in a research note on Thursday, December 12th. Finally, Jefferies Financial Group reduced their price objective on Adobe from $700.00 to $650.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $539.46.

Insider Buying and Selling

In other news, Director David A. Ricks bought 2,250 shares of the stock in a transaction that occurred on Tuesday, January 28th. The shares were purchased at an average cost of $443.98 per share, with a total value of $998,955.00. Following the completion of 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $145,567.22. Following the transaction, the chief accounting officer now directly owns 2,685 shares in the company, valued at approximately $1,170,203.55. The trade was a 11.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,075 shares of company stock valued at $2,191,826 over the last three months. Company insiders own 0.16% of the company’s stock.

Adobe Price Performance

Shares of ADBE opened at $394.74 on Friday. The firm has a market capitalization of $171.87 billion, a price-to-earnings ratio of 31.83, a price-to-earnings-growth ratio of 2.15 and a beta of 1.37. 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 Inc. has a one year low of $374.50 and a one year high of $587.75. The stock’s fifty day moving average is $437.03 and its 200-day moving average is $482.65.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Wednesday, March 12th. The software company reported $5.08 EPS for the quarter, beating analysts’ consensus estimates of $4.97 by $0.11. The company had revenue of $5.71 billion for the quarter, compared to analyst estimates of $5.66 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. During the same period last year, the company earned $4.48 earnings per share. Equities analysts anticipate 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.