Figure 8 Investment Strategies LLC Makes New Investment in Adobe Inc. (NASDAQ:ADBE)

Figure 8 Investment Strategies LLC acquired a new stake in Adobe Inc. (NASDAQ:ADBE) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 4,433 shares of the software company’s stock, valued at approximately $1,971,000. Adobe comprises approximately 1.9% of Figure 8 Investment Strategies LLC’s investment portfolio, making the stock its 22nd biggest position.

A number of other institutional investors have also recently made changes to their positions in the stock. Vontobel Holding Ltd. increased its stake in shares of Adobe by 0.7% during the fourth quarter. Vontobel Holding Ltd. now owns 1,275,285 shares of the software company’s stock valued at $567,094,000 after buying an additional 8,859 shares during the period. Bogart Wealth LLC boosted its holdings in Adobe by 8.1% in the fourth quarter. Bogart Wealth LLC now owns 13,981 shares of the software company’s stock valued at $6,217,000 after acquiring an additional 1,043 shares in the last quarter. IMS Capital Management increased its position in Adobe by 2.7% during the 4th quarter. IMS Capital Management now owns 2,915 shares of the software company’s stock valued at $1,296,000 after purchasing an additional 76 shares during the period. Investment Partners Asset Management Inc. raised its holdings in Adobe by 17.8% in the 4th quarter. Investment Partners Asset Management Inc. now owns 715 shares of the software company’s stock worth $318,000 after purchasing an additional 108 shares in the last quarter. Finally, Hudock Inc. lifted its position in shares of Adobe by 75.5% in the 4th quarter. Hudock Inc. now owns 1,146 shares of the software company’s stock worth $510,000 after purchasing an additional 493 shares during the period. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Insider Transactions at Adobe

In other Adobe news, Director Amy Banse sold 606 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $550.00, for a total value of $333,300.00. Following the completion of the transaction, the director now directly owns 32,929 shares in the company, valued at $18,110,950. This represents a 1.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Scott Belsky sold 3,819 shares of the firm’s stock in a transaction on 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 sale, the executive vice president now owns 18,334 shares in the company, valued at $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 sold 5,681 shares of company stock worth $2,525,126 in the last three months. Corporate insiders own 0.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on ADBE shares. Jefferies Financial Group decreased their price target on shares of Adobe from $700.00 to $650.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. Oppenheimer reduced their price target on Adobe from $625.00 to $600.00 and set an “outperform” rating on the stock in a research note on Thursday, December 12th. TD Cowen lowered Adobe from a “buy” rating to a “hold” rating and lowered their price objective for the company from $625.00 to $550.00 in a research report on Thursday, December 12th. Bank of America reduced their target price on shares of Adobe from $640.00 to $605.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Finally, Sanford C. Bernstein lowered their price target on shares of Adobe from $644.00 to $587.00 and set an “outperform” rating for the company in a research report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $573.00.

Adobe Stock Down 0.8 %

ADBE stock opened at $459.22 on Friday. The business’s 50-day moving average is $449.99 and its two-hundred day moving average is $497.68. The company has a market cap of $199.90 billion, a price-to-earnings ratio of 37.03, a P/E/G ratio of 2.11 and a beta of 1.31. Adobe Inc. has a fifty-two week low of $403.75 and a fifty-two week high of $610.33. 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 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. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The company had revenue of $5.61 billion during the quarter, compared to analyst estimates of $5.54 billion. During the same period in the previous year, the business posted $3.52 earnings per share. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. As a group, analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current 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.