Signaturefd LLC Has $4.34 Million Position in Adobe Inc. (NASDAQ:ADBE)

Signaturefd LLC trimmed its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 11.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,758 shares of the software company’s stock after selling 1,303 shares during the quarter. Signaturefd LLC’s holdings in Adobe were worth $4,339,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Legacy Investment Solutions LLC acquired a new position in Adobe in the 3rd quarter worth $26,000. MidAtlantic Capital Management Inc. bought a new stake in shares of Adobe in the third quarter valued at about $30,000. True Wealth Design LLC boosted its position 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 buying an additional 34 shares during the period. Briaud Financial Planning Inc bought a new position in shares of Adobe during the third quarter worth about $36,000. Finally, Decker Retirement Planning Inc. acquired a new stake in Adobe in the 4th quarter valued at approximately $31,000. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Adobe Trading Up 4.5 %

Shares of ADBE stock opened at $394.74 on Monday. Adobe Inc. has a twelve month low of $374.50 and a twelve month high of $587.75. The stock’s fifty day simple moving average is $437.03 and its 200 day simple moving average is $481.50. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $171.87 billion, a P/E ratio of 31.83, a P/E/G ratio of 2.15 and a beta of 1.37.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Wednesday, March 12th. The software company reported $5.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.97 by $0.11. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The company had revenue of $5.71 billion during the quarter, compared to the consensus estimate of $5.66 billion. During the same quarter in the prior year, the firm posted $4.48 earnings per share. As a group, sell-side analysts predict that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Insider Activity at Adobe

In other Adobe news, Director David A. Ricks purchased 2,250 shares of the company’s stock in a transaction on Tuesday, January 28th. The shares were 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 $2,212,796.32. This represents a 82.30 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Scott Belsky sold 3,819 shares of Adobe 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 completion of the sale, the executive vice president now owns 18,334 shares of the company’s stock, valued at $7,888,020.16. This represents a 17.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 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.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a research note on Thursday, December 12th. Evercore ISI decreased their target price on shares of Adobe from $650.00 to $550.00 and set an “outperform” rating for the company in a research report on Thursday. StockNews.com lowered shares of Adobe from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 4th. Stifel Nicolaus decreased their price objective on Adobe from $600.00 to $525.00 and set a “buy” rating for the company in a report on Thursday. Finally, Redburn Atlantic began coverage on Adobe in a report on Wednesday, February 19th. They set a “neutral” rating on the stock. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Adobe currently has a consensus rating of “Moderate Buy” and a consensus price target of $540.60.

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.