Adobe Inc. (NASDAQ:ADBE) is Lecap Asset Management Ltd.’s 10th Largest Position

Lecap Asset Management Ltd. trimmed its stake in Adobe Inc. (NASDAQ:ADBE) by 14.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,649 shares of the software company’s stock after selling 1,264 shares during the period. Adobe makes up about 0.9% of Lecap Asset Management Ltd.’s portfolio, making the stock its 10th biggest position. Lecap Asset Management Ltd.’s holdings in Adobe were worth $3,401,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Golden State Wealth Management LLC bought a new position in Adobe during the 4th quarter valued at about $229,000. Archer Investment Corp lifted its stake in Adobe by 11.1% in the fourth quarter. Archer Investment Corp now owns 1,978 shares of the software company’s stock worth $880,000 after purchasing an additional 198 shares during the last quarter. Live Oak Private Wealth LLC grew its stake in shares of Adobe by 12.2% during the fourth quarter. Live Oak Private Wealth LLC now owns 552 shares of the software company’s stock valued at $245,000 after buying an additional 60 shares during the last quarter. Tobam grew its stake in shares of Adobe by 29.0% during the fourth quarter. Tobam now owns 1,129 shares of the software company’s stock valued at $502,000 after buying an additional 254 shares during the last quarter. Finally, Global X Japan Co. Ltd. raised its holdings in shares of Adobe by 0.7% in the fourth quarter. Global X Japan Co. Ltd. now owns 10,728 shares of the software company’s stock worth $4,771,000 after buying an additional 77 shares during the period. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Piper Sandler dropped their price objective on Adobe from $635.00 to $600.00 and set an “overweight” rating for the company in a report on Thursday, December 12th. UBS Group cut their price target on shares of Adobe from $525.00 to $475.00 and set a “neutral” rating on the stock in a report on Friday, January 3rd. Stifel Nicolaus reduced their price target on shares of Adobe from $650.00 to $600.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. JMP Securities reissued a “market perform” rating on shares of Adobe in a research report on Thursday, December 12th. Finally, TD Cowen lowered shares of 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 report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $573.00.

Insider Activity

In related news, CAO Jillian Forusz sold 334 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total value of $145,567.22. Following the sale, the chief accounting officer now owns 2,685 shares in the company, valued at $1,170,203.55. This represents a 11.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Scott Belsky sold 3,819 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $430.24, for a total transaction of $1,643,086.56. Following the transaction, the executive vice president now directly owns 18,334 shares of the company’s stock, valued at $7,888,020.16. This represents a 17.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,681 shares of company stock valued at $2,525,126 over the last ninety days. 0.15% of the stock is currently owned by insiders.

Adobe Price Performance

Shares of NASDAQ ADBE opened at $435.40 on Friday. Adobe Inc. has a fifty-two week low of $403.75 and a fifty-two week high of $628.07. 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 $189.53 billion, a PE ratio of 35.11, a P/E/G ratio of 2.12 and a beta of 1.31. The business has a 50-day simple moving average of $457.14 and a two-hundred day simple moving average of $500.93.

Adobe (NASDAQ:ADBE) last released its 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 company had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $5.54 billion. During the same quarter in the previous year, the firm earned $3.52 EPS. Adobe’s revenue was up 11.1% compared to the same quarter last year. As a group, equities analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

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.