Adobe Inc. (NASDAQ:ADBE) is Bellecapital International Ltd.’s 10th Largest Position

Bellecapital International Ltd. boosted its stake in Adobe Inc. (NASDAQ:ADBE) by 14.5% in the fourth quarter, Holdings Channel.com reports. The fund owned 42,994 shares of the software company’s stock after buying an additional 5,433 shares during the quarter. Adobe comprises about 3.4% of Bellecapital International Ltd.’s portfolio, making the stock its 10th largest holding. Bellecapital International Ltd.’s holdings in Adobe were worth $19,119,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Legacy Investment Solutions LLC purchased a new stake in shares of Adobe in the third quarter valued at about $26,000. MidAtlantic Capital Management Inc. acquired a new position in shares of Adobe during the third quarter worth about $30,000. True Wealth Design LLC increased its stake 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. Briaud Financial Planning Inc acquired a new position in shares of Adobe during the third quarter worth about $36,000. Finally, Decker Retirement Planning Inc. acquired a new position in shares of Adobe during the fourth quarter worth about $31,000. 81.79% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Adobe

In related news, EVP Scott Belsky sold 3,819 shares of Adobe stock in a transaction on 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 sale, the executive vice president now owns 18,334 shares of the company’s stock, valued at $7,888,020.16. The trade was a 17.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Amy Banse sold 606 shares of Adobe stock in a transaction on Friday, December 6th. The stock was 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 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. Insiders have sold a total of 5,681 shares of company stock worth $2,525,126 in the last quarter. 0.15% of the stock is owned by insiders.

Analyst Ratings Changes

ADBE has been the topic of a number of recent analyst reports. BMO Capital Markets dropped their price target on shares of Adobe from $570.00 to $515.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. StockNews.com lowered shares of Adobe from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 20th. Stifel Nicolaus lowered their target price on shares of Adobe from $650.00 to $600.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Royal Bank of Canada restated an “outperform” rating and set a $590.00 target price on shares of Adobe in a research report on Thursday, February 13th. Finally, Oppenheimer lowered their target price on shares of Adobe from $625.00 to $600.00 and set an “outperform” rating on the stock in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $570.88.

Adobe Stock Up 0.3 %

Shares of NASDAQ ADBE opened at $438.49 on Friday. 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 $439.71 and its 200 day moving average price is $490.93. The firm has a market cap of $190.87 billion, a P/E ratio of 35.36, a price-to-earnings-growth ratio of 2.15 and a beta of 1.31. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07.

Adobe (NASDAQ:ADBE) last announced its earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $5.54 billion. During the same quarter last year, the business earned $3.52 earnings per share. Adobe’s revenue was up 11.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current year.

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.