Country Club Bank Grows Stock Position in Adobe Inc. (NASDAQ:ADBE)

Country Club Bank grew its position in shares of Adobe Inc. (NASDAQ:ADBE) by 5.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,298 shares of the software company’s stock after purchasing an additional 171 shares during the period. Country Club Bank’s holdings in Adobe were worth $1,470,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Czech National Bank boosted its stake in shares of Adobe by 5.8% during the 3rd quarter. Czech National Bank now owns 90,325 shares of the software company’s stock valued at $46,768,000 after buying an additional 4,954 shares during the last quarter. Miracle Mile Advisors LLC boosted its stake in Adobe by 10.8% during the 3rd quarter. Miracle Mile Advisors LLC now owns 1,577 shares of the software company’s stock valued at $817,000 after acquiring an additional 154 shares during the last quarter. Axiom Advisory LLC grew its holdings in Adobe by 9.3% during the 3rd quarter. Axiom Advisory LLC now owns 1,728 shares of the software company’s stock worth $948,000 after acquiring an additional 147 shares in the last quarter. Dynamic Advisor Solutions LLC increased its position in shares of Adobe by 0.4% in the 3rd quarter. Dynamic Advisor Solutions LLC now owns 10,514 shares of the software company’s stock worth $5,444,000 after purchasing an additional 42 shares during the last quarter. Finally, Country Trust Bank raised its stake in shares of Adobe by 8.6% in the 3rd quarter. Country Trust Bank now owns 75,194 shares of the software company’s stock valued at $38,934,000 after purchasing an additional 5,949 shares in the last quarter. 81.79% of the stock is owned by institutional investors and hedge funds.

Adobe Trading Down 0.6 %

Shares of NASDAQ ADBE opened at $437.63 on Thursday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29. Adobe Inc. has a 12 month low of $403.75 and a 12 month high of $628.07. The company has a market cap of $190.50 billion, a price-to-earnings ratio of 35.29, a P/E/G ratio of 2.12 and a beta of 1.31. The business has a fifty day simple moving average of $458.66 and a 200-day simple moving average of $501.38.

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

Insider Buying and Selling

In other Adobe news, EVP Scott Belsky sold 922 shares of Adobe stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $437.28, for a total transaction of $403,172.16. Following the transaction, the executive vice president now owns 22,153 shares of the company’s stock, valued at $9,687,063.84. The trade was a 4.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Amy Banse sold 606 shares of the company’s stock in a transaction dated Friday, December 6th. The shares were 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 owns 32,929 shares in the company, valued at $18,110,950. This represents a 1.81 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,681 shares of company stock valued at $2,525,126. Company insiders own 0.15% of the company’s stock.

Wall Street Analysts Forecast Growth

ADBE has been the subject of a number of research reports. BNP Paribas upgraded Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 price target for the company in a research note on Wednesday, January 15th. Jefferies Financial Group decreased their target price on Adobe from $700.00 to $650.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. Wells Fargo & Company dropped their price target on Adobe from $700.00 to $640.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Stifel Nicolaus decreased their price objective on shares of Adobe from $650.00 to $600.00 and set a “buy” rating for the company in a report on Thursday, December 12th. Finally, Citigroup dropped their target price on shares of Adobe from $616.00 to $590.00 and set a “neutral” rating on the stock in a report on Monday, December 9th. One analyst has rated the stock with a sell rating, ten have given a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Adobe presently has a consensus rating of “Moderate Buy” and an average price target of $573.00.

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.