Trifecta Capital Advisors LLC Purchases 385 Shares of Adobe Inc. (NASDAQ:ADBE)

Trifecta Capital Advisors LLC lifted its stake in Adobe Inc. (NASDAQ:ADBE) by 4.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,368 shares of the software company’s stock after purchasing an additional 385 shares during the period. Trifecta Capital Advisors LLC’s holdings in Adobe were worth $4,166,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Legacy Investment Solutions LLC acquired a new stake in shares of Adobe in the third quarter valued at approximately $26,000. Groupama Asset Managment increased its holdings in shares of Adobe by 28.8% in the third quarter. Groupama Asset Managment now owns 51,482 shares of the software company’s stock valued at $27,000 after purchasing an additional 11,522 shares in the last quarter. MidAtlantic Capital Management Inc. acquired a new stake in shares of Adobe in the third quarter valued at approximately $30,000. True Wealth Design LLC increased its holdings in shares of Adobe by 141.7% in the third quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock valued at $30,000 after purchasing an additional 34 shares in the last quarter. Finally, Decker Retirement Planning Inc. acquired a new stake in shares of Adobe in the fourth quarter valued at approximately $31,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Adobe Trading Up 0.0 %

ADBE opened at $444.42 on Tuesday. The stock has a market capitalization of $193.46 billion, a P/E ratio of 35.84, a P/E/G ratio of 2.15 and a beta of 1.31. Adobe Inc. has a 12 month low of $403.75 and a 12 month high of $587.75. The firm’s fifty day simple moving average is $440.12 and its 200 day simple moving average is $493.28. 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 (NASDAQ:ADBE) last issued its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, topping 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 firm had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.54 billion. During the same period in the previous year, the firm posted $3.52 EPS. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. As a group, research analysts anticipate that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $590.00 target price on shares of Adobe in a report on Thursday, February 13th. Mizuho lowered their target price on shares of Adobe from $640.00 to $620.00 and set an “outperform” rating for the company in a report on Thursday, December 12th. DA Davidson lowered their target price on shares of Adobe from $685.00 to $625.00 and set a “buy” rating for the company in a report on Thursday, December 12th. Redburn Atlantic assumed coverage on shares of Adobe in a report on Wednesday, February 19th. They set a “neutral” rating for the company. Finally, UBS Group lowered their target price on shares of Adobe from $525.00 to $475.00 and set a “neutral” rating for the company in a report on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $570.88.

Insiders Place Their Bets

In other Adobe news, Director Amy Banse sold 606 shares of the business’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $550.00, for a total transaction of $333,300.00. Following the sale, the director now directly owns 32,929 shares of the company’s stock, valued at $18,110,950. The trade was a 1.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Scott Belsky sold 3,819 shares of the company’s stock in a transaction dated 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 directly owns 18,334 shares in the company, valued at approximately $7,888,020.16. The trade was a 17.24 % 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 in the last three months. 0.15% of the stock is currently owned by corporate insiders.

Adobe 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.