Sheaff Brock Investment Advisors LLC Has $3 Million Holdings in Adobe Inc. (NASDAQ:ADBE)

Sheaff Brock Investment Advisors LLC grew its holdings in Adobe Inc. (NASDAQ:ADBE) by 3.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 6,736 shares of the software company’s stock after buying an additional 208 shares during the period. Sheaff Brock Investment Advisors LLC’s holdings in Adobe were worth $2,995,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in ADBE. Legacy Investment Solutions LLC acquired a new stake in Adobe during the third quarter valued at $26,000. MidAtlantic Capital Management Inc. purchased a new stake in shares of Adobe during the 3rd quarter worth about $30,000. True Wealth Design LLC lifted its holdings in shares of Adobe by 141.7% during the 3rd quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock valued at $30,000 after buying an additional 34 shares during the last quarter. Briaud Financial Planning Inc bought a new stake in shares of Adobe in the 3rd quarter valued at approximately $36,000. Finally, Decker Retirement Planning Inc. acquired a new position in Adobe in the fourth quarter worth approximately $31,000. 81.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on ADBE. Sanford C. Bernstein decreased their target price 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. Mizuho reduced their price objective on shares of Adobe from $640.00 to $620.00 and set an “outperform” rating for the company in a research note on Thursday, December 12th. Bank of America cut their target price on Adobe from $640.00 to $605.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. UBS Group decreased their price target on Adobe from $525.00 to $475.00 and set a “neutral” rating for the company in a research note on Friday, January 3rd. Finally, Oppenheimer cut their price objective on Adobe from $625.00 to $600.00 and set an “outperform” rating on the stock in a research note on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $573.00.

Insider Activity at Adobe

In related news, Director David A. Ricks purchased 2,250 shares of the firm’s stock in a transaction that occurred on Tuesday, January 28th. The shares were acquired at an average price of $443.98 per share, with a total value of $998,955.00. Following the purchase, the director now directly owns 4,984 shares in the company, valued at $2,212,796.32. This represents a 82.30 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Scott Belsky sold 922 shares of the company’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $437.28, for a total value of $403,172.16. Following the completion of the sale, the executive vice president now owns 22,153 shares in the company, valued at $9,687,063.84. This trade represents a 4.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,681 shares of company stock valued at $2,525,126 over the last quarter. 0.15% of the stock is owned by company insiders.

Adobe Price Performance

Shares of NASDAQ:ADBE opened at $460.16 on Friday. The firm has a market capitalization of $200.31 billion, a PE ratio of 37.11, a PEG ratio of 2.11 and a beta of 1.31. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29. Adobe Inc. has a 1-year low of $403.75 and a 1-year high of $607.32. The business’s 50 day moving average is $446.56 and its 200-day moving average is $496.88.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share for the quarter, topping analysts’ consensus estimates of $4.67 by $0.14. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The firm 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 company earned $3.52 earnings per share. The business’s revenue was up 11.1% compared to the same quarter last year. Sell-side analysts predict that Adobe Inc. will post 16.65 earnings per share for the current year.

Adobe Company 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.