PFG Advisors Has $1.83 Million Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

PFG Advisors decreased its stake in Adobe Inc. (NASDAQ:ADBE) by 1.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,109 shares of the software company’s stock after selling 81 shares during the period. PFG Advisors’ holdings in Adobe were worth $1,827,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Nordea Investment Management AB increased its stake in shares of Adobe by 2.0% in the fourth quarter. Nordea Investment Management AB now owns 1,712,616 shares of the software company’s stock valued at $765,094,000 after buying an additional 33,414 shares during the period. Arizona State Retirement System increased its stake in shares of Adobe by 0.4% in the fourth quarter. Arizona State Retirement System now owns 127,696 shares of the software company’s stock valued at $56,784,000 after buying an additional 570 shares during the period. Public Sector Pension Investment Board increased its stake in shares of Adobe by 12.2% in the third quarter. Public Sector Pension Investment Board now owns 19,322 shares of the software company’s stock valued at $10,005,000 after buying an additional 2,100 shares during the period. Jacobs Levy Equity Management Inc. grew its stake in Adobe by 201.0% during the third quarter. Jacobs Levy Equity Management Inc. now owns 117,383 shares of the software company’s stock worth $60,779,000 after purchasing an additional 78,384 shares during the period. Finally, Morse Asset Management Inc grew its stake in Adobe by 33.0% during the third quarter. Morse Asset Management Inc now owns 8,519 shares of the software company’s stock worth $4,411,000 after purchasing an additional 2,113 shares during the period. Institutional investors and hedge funds own 81.79% of the company’s stock.

Adobe Stock Up 1.1 %

ADBE stock opened at $438.60 on Thursday. Adobe Inc. has a twelve month low of $403.75 and a twelve month high of $587.75. 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 stock’s 50 day moving average is $439.01 and its 200-day moving average is $484.54. The firm has a market capitalization of $190.97 billion, a PE ratio of 35.37, a P/E/G ratio of 2.15 and a beta of 1.37.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Wednesday, March 12th. The software company reported $5.08 EPS for the quarter, topping analysts’ consensus estimates of $4.97 by $0.11. The business had revenue of $5.71 billion for the quarter, compared to analyst estimates of $5.66 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. During the same period last year, the company posted $4.48 earnings per share. Sell-side analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Scott Belsky sold 922 shares of Adobe stock in a transaction on Friday, January 24th. The stock was sold at an average price of $437.28, for a total transaction of $403,172.16. Following the sale, the executive vice president now directly owns 22,153 shares in the company, valued at approximately $9,687,063.84. This trade represents a 4.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director David A. Ricks purchased 2,250 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The shares were acquired at an average price of $443.98 per share, for a total transaction of $998,955.00. Following the completion of the acquisition, the director now directly owns 4,984 shares of the company’s stock, valued at $2,212,796.32. This trade represents a 82.30 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 5,075 shares of company stock worth $2,191,826. 0.15% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on ADBE shares. DA Davidson decreased their target price on Adobe from $685.00 to $625.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. BMO Capital Markets set a $515.00 target price on Adobe and gave the stock an “outperform” rating in a research note on Friday, March 7th. Royal Bank of Canada decreased their target price on Adobe from $590.00 to $550.00 and set an “outperform” rating for the company in a research note on Friday, March 7th. Citigroup decreased their target price on Adobe from $551.00 to $490.00 and set a “neutral” rating for the company in a research note on Monday. Finally, Redburn Atlantic started coverage on Adobe in a research note on Wednesday, February 19th. They set a “neutral” rating for the company. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Adobe has an average rating of “Moderate Buy” and an average price target of $563.96.

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.