HUB Investment Partners LLC Has $15.04 Million Holdings in Adobe Inc. (NASDAQ:ADBE)

HUB Investment Partners LLC lessened its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 0.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 33,821 shares of the software company’s stock after selling 260 shares during the quarter. HUB Investment Partners LLC’s holdings in Adobe were worth $15,040,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of ADBE. Legacy Investment Solutions LLC bought a new stake in shares of Adobe during the third quarter worth approximately $26,000. True Wealth Design LLC boosted its holdings in shares of Adobe by 141.7% during the third quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock worth $30,000 after acquiring an additional 34 shares during the period. Briaud Financial Planning Inc bought a new stake in shares of Adobe during the third quarter worth approximately $36,000. Decker Retirement Planning Inc. bought a new stake in shares of Adobe during the fourth quarter worth approximately $31,000. Finally, Caitlin John LLC boosted its stake in shares of Adobe by 171.4% in the fourth quarter. Caitlin John LLC now owns 76 shares of the software company’s stock valued at $34,000 after buying an additional 48 shares during the period. Institutional investors and hedge funds own 81.79% of the company’s stock.

Insider Buying and Selling at Adobe

In other news, Director David A. Ricks acquired 2,250 shares of the stock in a transaction dated Tuesday, January 28th. The stock was purchased at an average cost of $443.98 per share, with a total value of $998,955.00. Following the completion of the purchase, the director now owns 4,984 shares in the company, valued at approximately $2,212,796.32. The trade was a 82.30 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Scott Belsky sold 3,819 shares of the stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 18,334 shares of the company’s stock, 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 sold a total of 5,075 shares of company stock worth $2,191,826 over the last three months. Company insiders own 0.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ADBE. Royal Bank of Canada reiterated an “outperform” rating and issued a $530.00 price target on shares of Adobe in a research note on Wednesday. Sanford C. Bernstein cut their target price on Adobe from $644.00 to $587.00 and set an “outperform” rating for the company in a research note on Thursday, December 12th. Evercore ISI lowered their price target on shares of Adobe from $650.00 to $550.00 and set an “outperform” rating for the company in a report on Thursday, March 13th. Wells Fargo & Company lowered their price target on shares of Adobe from $640.00 to $600.00 and set an “overweight” rating for the company in a report on Friday, March 7th. Finally, Oppenheimer lowered their price target on shares of Adobe from $560.00 to $530.00 and set an “outperform” rating for the company in a report on Thursday, March 13th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $538.80.

Adobe Stock Down 0.9 %

ADBE opened at $387.89 on Thursday. Adobe Inc. has a one year low of $374.50 and a one year high of $587.75. The company has a fifty day moving average price of $435.13 and a 200-day moving average price of $478.38. The firm has a market capitalization of $168.89 billion, a P/E ratio of 31.28, 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 current ratio of 1.07 and a quick ratio of 1.07.

Adobe (NASDAQ:ADBE) last announced its earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.97 by $0.11. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The company had revenue of $5.71 billion during the quarter, compared to analyst estimates of $5.66 billion. During the same period in the previous year, the business earned $4.48 earnings per share. Equities research analysts expect that Adobe Inc. will post 16.65 earnings per share 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.