Dana Investment Advisors Inc. Has $13.89 Million Position in Adobe Inc (ADBE)

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Dana Investment Advisors Inc. grew its position in shares of Adobe Inc (NASDAQ:ADBE) by 48.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 61,374 shares of the software company’s stock after buying an additional 20,077 shares during the period. Dana Investment Advisors Inc.’s holdings in Adobe were worth $13,885,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in ADBE. Brookstone Capital Management increased its position in Adobe by 4.6% in the 4th quarter. Brookstone Capital Management now owns 928 shares of the software company’s stock valued at $210,000 after acquiring an additional 41 shares during the period. JOYN Advisors Inc. increased its position in Adobe by 7.4% in the 4th quarter. JOYN Advisors Inc. now owns 622 shares of the software company’s stock valued at $141,000 after acquiring an additional 43 shares during the period. Founders Capital Management increased its position in Adobe by 0.3% in the 4th quarter. Founders Capital Management now owns 17,500 shares of the software company’s stock valued at $3,959,000 after acquiring an additional 50 shares during the period. Capital Advisors Ltd. LLC increased its position in Adobe by 7.0% in the 4th quarter. Capital Advisors Ltd. LLC now owns 760 shares of the software company’s stock valued at $172,000 after acquiring an additional 50 shares during the period. Finally, RB Capital Management LLC increased its position in Adobe by 1.3% in the 4th quarter. RB Capital Management LLC now owns 4,513 shares of the software company’s stock valued at $1,021,000 after acquiring an additional 57 shares during the period. 85.88% of the stock is currently owned by institutional investors.

Several research firms recently commented on ADBE. Zacks Investment Research cut Adobe from a “buy” rating to a “hold” rating in a research report on Tuesday, December 11th. DZ Bank restated a “hold” rating on shares of Adobe in a research report on Friday, February 22nd. Canaccord Genuity lifted their price target on Adobe from $290.00 to $300.00 and gave the company a “buy” rating in a research report on Friday. BidaskClub cut Adobe from a “buy” rating to a “hold” rating in a research report on Wednesday, February 20th. Finally, Robert W. Baird lifted their price target on Adobe from $290.00 to $300.00 and gave the company an “outperform” rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and eighteen have assigned a buy rating to the stock. Adobe has an average rating of “Buy” and a consensus price target of $285.56.

ADBE opened at $257.09 on Monday. The firm has a market cap of $129.31 billion, a PE ratio of 46.32, a P/E/G ratio of 2.59 and a beta of 1.10. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.13 and a quick ratio of 1.13. Adobe Inc has a fifty-two week low of $204.95 and a fifty-two week high of $277.61.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Thursday, March 14th. The software company reported $1.37 earnings per share for the quarter, missing the consensus estimate of $1.62 by ($0.25). The company had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $2.55 billion. Adobe had a return on equity of 31.19% and a net margin of 28.69%. The business’s revenue was up 24.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.55 earnings per share. Equities research analysts forecast that Adobe Inc will post 6.21 earnings per share for the current fiscal year.

In other news, EVP Ann Lewnes sold 2,692 shares of the firm’s stock in a transaction on Wednesday, December 19th. The stock was sold at an average price of $226.05, for a total value of $608,526.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Charles M. Geschke sold 21,258 shares of the firm’s stock in a transaction on Tuesday, January 8th. The stock was sold at an average price of $232.71, for a total value of $4,946,949.18. The disclosure for this sale can be found here. In the last ninety days, insiders sold 282,344 shares of company stock valued at $69,007,648. 0.32% of the stock is currently owned by insiders.

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About Adobe

Adobe Inc operates as a diversified software company worldwide. Its Digital Media segment provides tools and solutions that enable individuals, small and medium businesses, and enterprises to create, publish, promote, and monetize their digital content. Its flagship product is Creative Cloud, a subscription service that allows customer to download and access the latest versions of its creative products.

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Institutional Ownership by Quarter for Adobe (NASDAQ:ADBE)

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