Jag Capital Management LLC Has $4.31 Million Stake in Adobe Inc. (NASDAQ:ADBE)

Jag Capital Management LLC trimmed its position in shares of Adobe Inc. (NASDAQ:ADBE) by 1.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,680 shares of the software company’s stock after selling 116 shares during the period. Jag Capital Management LLC’s holdings in Adobe were worth $4,305,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Horan Capital Advisors LLC. grew its position in Adobe by 2.4% during the 4th quarter. Horan Capital Advisors LLC. now owns 4,861 shares of the software company’s stock worth $2,162,000 after purchasing an additional 114 shares in the last quarter. Ring Mountain Capital LLC purchased a new position in Adobe during the 4th quarter worth approximately $225,000. Torray Investment Partners LLC grew its position in Adobe by 1.6% during the 4th quarter. Torray Investment Partners LLC now owns 13,617 shares of the software company’s stock worth $6,055,000 after purchasing an additional 215 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Adobe by 3.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,808,909 shares of the software company’s stock worth $1,249,066,000 after purchasing an additional 92,458 shares in the last quarter. Finally, NBW Capital LLC purchased a new position in Adobe during the 4th quarter worth approximately $1,465,000. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Adobe Price Performance

Shares of Adobe stock opened at $440.72 on Tuesday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $191.85 billion, a price-to-earnings ratio of 35.54, a P/E/G ratio of 2.15 and a beta of 1.31. Adobe Inc. has a 1-year low of $403.75 and a 1-year high of $587.75. The firm’s 50-day moving average price is $439.59 and its two-hundred day moving average price is $489.79.

Adobe (NASDAQ:ADBE) last released its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, beating the consensus estimate of $4.67 by $0.14. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The business had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.54 billion. During the same period in the prior year, the firm earned $3.52 earnings per share. Adobe’s revenue was up 11.1% compared to the same quarter last year. On average, equities analysts predict that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. JMP Securities reiterated a “market perform” rating on shares of Adobe in a research report on Thursday, December 12th. Sanford C. Bernstein lowered their price target on shares of Adobe from $644.00 to $587.00 and set an “outperform” rating on the stock in a report on Thursday, December 12th. DA Davidson lowered their price target on shares of Adobe from $685.00 to $625.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Wells Fargo & Company lowered their price target on shares of Adobe from $700.00 to $640.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $590.00 price target on shares of Adobe in a report on Thursday, February 13th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Adobe currently has a consensus rating of “Moderate Buy” and a consensus target price of $570.88.

Insider Activity

In related news, Director Amy Banse sold 606 shares of the stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $550.00, for a total value of $333,300.00. Following the transaction, the director now directly owns 32,929 shares in the company, valued at $18,110,950. This represents a 1.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Scott Belsky sold 922 shares of the stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $437.28, for a total transaction of $403,172.16. Following the completion of the transaction, the executive vice president now owns 22,153 shares in the company, valued at $9,687,063.84. This represents a 4.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,681 shares of company stock valued at $2,525,126 over the last three months. 0.15% of the stock is owned by insiders.

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.