Veery Capital LLC Has $585,000 Position in Adobe Inc. (NASDAQ:ADBE)

Veery Capital LLC lifted its position in shares of Adobe Inc. (NASDAQ:ADBE) by 1.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,315 shares of the software company’s stock after purchasing an additional 24 shares during the period. Veery Capital LLC’s holdings in Adobe were worth $585,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Legacy Investment Solutions LLC bought a new stake in shares of Adobe during the 3rd quarter worth about $26,000. Piscataqua Savings Bank raised its holdings in Adobe by 226.7% in the 3rd quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock valued at $25,000 after acquiring an additional 34 shares during the period. MidAtlantic Capital Management Inc. acquired a new stake in Adobe during the third quarter worth approximately $30,000. True Wealth Design LLC boosted its holdings 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 acquiring an additional 34 shares during the period. Finally, Briaud Financial Planning Inc acquired a new position in shares of Adobe in the third quarter valued at approximately $36,000. 81.79% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on the company. BMO Capital Markets decreased their price objective on Adobe from $600.00 to $570.00 and set an “outperform” rating on the stock in a report on Thursday, December 12th. Oppenheimer decreased their price target on shares of Adobe from $625.00 to $600.00 and set an “outperform” rating on the stock in a research note on Thursday, December 12th. UBS Group dropped their price objective on shares of Adobe from $525.00 to $475.00 and set a “neutral” rating for the company in a research note on Friday, January 3rd. StockNews.com upgraded shares of Adobe from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 18th. Finally, JMP Securities reiterated a “market perform” rating on shares of Adobe in a research report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $573.00.

Adobe Trading Up 0.7 %

Shares of NASDAQ ADBE opened at $429.99 on Friday. Adobe Inc. has a 1 year low of $403.75 and a 1 year high of $638.25. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.11. The firm has a 50-day moving average of $476.55 and a 200 day moving average of $512.82. The stock has a market cap of $189.28 billion, a P/E ratio of 34.68, a price-to-earnings-growth ratio of 1.97 and a beta of 1.31.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data 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 company had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $5.54 billion. During the same period in the prior year, the firm posted $3.52 EPS. Adobe’s revenue for the quarter was up 11.1% on a year-over-year basis. As a group, sell-side analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Insider Activity at Adobe

In related news, CAO Jillian Forusz sold 676 shares of the firm’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $484.97, for a total value of $327,839.72. Following the transaction, the chief accounting officer now directly owns 2,715 shares of the company’s stock, valued at approximately $1,316,693.55. This trade represents a 19.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Amy Banse sold 606 shares of the firm’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $550.00, for a total value of $333,300.00. Following the completion of the transaction, the director now directly owns 32,929 shares in the company, valued at $18,110,950. This trade represents a 1.81 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,763 shares of company stock worth $893,665. 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.