Moors & Cabot Inc. Raises Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

Moors & Cabot Inc. increased its position in Adobe Inc. (NASDAQ:ADBE) by 4.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,704 shares of the software company’s stock after purchasing an additional 154 shares during the period. Moors & Cabot Inc.’s holdings in Adobe were worth $1,647,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ADBE. Legacy Investment Solutions LLC purchased a new stake in Adobe in the third quarter worth $26,000. Groupama Asset Managment grew its stake in Adobe by 28.8% in the third quarter. Groupama Asset Managment now owns 51,482 shares of the software company’s stock worth $27,000 after purchasing an additional 11,522 shares during the period. MidAtlantic Capital Management Inc. purchased a new stake in Adobe in the third quarter worth $30,000. True Wealth Design LLC grew its stake in shares of Adobe by 141.7% in 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 last quarter. Finally, Decker Retirement Planning Inc. purchased a new stake in shares of Adobe in the fourth quarter worth $31,000. 81.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. StockNews.com cut Adobe from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 4th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $475.00 target price (down from $600.00) on shares of Adobe in a research note on Wednesday, January 8th. JMP Securities reissued a “market perform” rating on shares of Adobe in a research note on Thursday, December 12th. DA Davidson lowered their price target on Adobe from $685.00 to $625.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Finally, Royal Bank of Canada lowered their price target on Adobe from $590.00 to $550.00 and set an “outperform” rating on the stock in a report on Friday, March 7th. 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 given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $563.96.

Adobe Stock Performance

ADBE opened at $438.60 on Thursday. The firm has a market cap of $190.97 billion, a P/E ratio of 35.37, a PEG ratio of 2.15 and a beta of 1.37. Adobe Inc. has a 1-year low of $403.75 and a 1-year high of $587.75. The company has a 50 day simple moving average of $439.01 and a two-hundred day simple moving average of $484.54. 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 issued its quarterly earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.97 by $0.11. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The business had revenue of $5.71 billion during the quarter, compared to analyst estimates of $5.66 billion. During the same quarter in the prior year, the business posted $4.48 EPS. Equities analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Adobe news, Director David A. Ricks purchased 2,250 shares of the business’s stock in a transaction on Tuesday, January 28th. The stock was acquired at an average price of $443.98 per share, for a total transaction of $998,955.00. Following the purchase, the director now owns 4,984 shares of the company’s stock, valued at approximately $2,212,796.32. This represents a 82.30 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Jillian Forusz sold 334 shares of the stock in a transaction 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 completion of the sale, the chief accounting officer now owns 2,685 shares of the company’s stock, valued at $1,170,203.55. The trade was a 11.06 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,075 shares of company stock worth $2,191,826. Corporate insiders own 0.15% of the company’s stock.

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.