Donaldson Capital Management LLC Grows Stock Position in Adobe Inc. (NASDAQ:ADBE)

Donaldson Capital Management LLC raised its holdings in Adobe Inc. (NASDAQ:ADBE) by 1.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,245 shares of the software company’s stock after buying an additional 121 shares during the quarter. Donaldson Capital Management LLC’s holdings in Adobe were worth $4,556,000 at the end of the most recent reporting period.

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

Insiders Place Their Bets

In other Adobe news, EVP Scott Belsky sold 3,819 shares of the business’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $430.24, for a total transaction of $1,643,086.56. Following the transaction, the executive vice president now owns 18,334 shares of the company’s stock, valued at approximately $7,888,020.16. The trade was a 17.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director David A. Ricks bought 2,250 shares of Adobe stock in a transaction on Tuesday, January 28th. The stock was acquired at an average price of $443.98 per share, for a total transaction of $998,955.00. Following the transaction, the director now directly owns 4,984 shares of the company’s stock, valued at approximately $2,212,796.32. This trade represents a 82.30 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 5,075 shares of company stock valued at $2,191,826. Insiders own 0.15% of the company’s stock.

Adobe Stock Performance

Shares of NASDAQ:ADBE opened at $435.08 on Tuesday. The business’s 50 day moving average price is $439.35 and its 200-day moving average price is $485.74. The firm has a market capitalization of $189.44 billion, a PE ratio of 35.09, a P/E/G ratio of 2.15 and a beta of 1.37. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. Adobe Inc. has a 1 year low of $403.75 and a 1 year high of $587.75.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 earnings per share for the quarter, topping analysts’ consensus estimates of $4.67 by $0.14. The company had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.54 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.52 earnings per share. As a group, equities research analysts expect that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on ADBE shares. StockNews.com cut Adobe from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 4th. Wells Fargo & Company reduced their price target on Adobe from $640.00 to $600.00 and set an “overweight” rating for the company in a research report on Friday. JMP Securities reiterated a “market perform” rating on shares of Adobe in a research report on Thursday, December 12th. Bank of America reduced their price target on Adobe from $640.00 to $605.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. Finally, DA Davidson reduced their price target on Adobe from $685.00 to $625.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $563.96.

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.