Hudson Valley Investment Advisors Inc. ADV lifted its holdings in shares of Adobe Inc. (NASDAQ:ADBE – Free Report) by 0.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,828 shares of the software company’s stock after buying an additional 40 shares during the period. Adobe makes up 1.3% of Hudson Valley Investment Advisors Inc. ADV’s portfolio, making the stock its 21st biggest position. Hudson Valley Investment Advisors Inc. ADV’s holdings in Adobe were worth $11,041,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. International Assets Investment Management LLC boosted its stake in shares of Adobe by 66,909.7% in the 3rd quarter. International Assets Investment Management LLC now owns 1,378,390 shares of the software company’s stock worth $713,703,000 after buying an additional 1,376,333 shares during the last quarter. Longview Partners Guernsey LTD purchased a new stake in Adobe during the second quarter valued at $663,745,000. FMR LLC lifted its holdings in Adobe by 8.8% in the third quarter. FMR LLC now owns 9,690,163 shares of the software company’s stock valued at $5,017,373,000 after acquiring an additional 787,356 shares during the period. Mercer Global Advisors Inc. ADV boosted its position in Adobe by 982.4% in the second quarter. Mercer Global Advisors Inc. ADV now owns 541,670 shares of the software company’s stock worth $300,919,000 after purchasing an additional 491,627 shares during the last quarter. Finally, Erste Asset Management GmbH bought a new stake in shares of Adobe during the 3rd quarter valued at about $126,703,000. 81.79% of the stock is currently owned by institutional investors.
Adobe Trading Down 0.7 %
ADBE stock opened at $419.58 on Friday. The firm has a fifty day moving average price of $485.54 and a 200 day moving average price of $517.97. Adobe Inc. has a fifty-two week low of $415.51 and a fifty-two week high of $638.25. The firm has a market cap of $184.70 billion, a PE ratio of 33.84, a price-to-earnings-growth ratio of 2.51 and a beta of 1.31. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.11 and a current ratio of 1.11.
Analyst Ratings Changes
Several equities analysts have recently weighed in on the stock. StockNews.com upgraded shares of Adobe from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 18th. Stifel Nicolaus decreased their price target 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. DA Davidson cut their price objective on shares of Adobe from $685.00 to $625.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. Barclays decreased their target price on Adobe from $675.00 to $645.00 and set an “overweight” rating on the stock in a report on Thursday, December 12th. Finally, Oppenheimer lowered their target price on Adobe from $625.00 to $600.00 and set an “outperform” rating on the stock in a research report on Thursday, December 12th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $575.85.
Insider Transactions at Adobe
In other Adobe news, EVP Scott Belsky sold 481 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $483.42, for a total transaction of $232,525.02. Following the completion of the transaction, the executive vice president now owns 18,128 shares in the company, valued at $8,763,437.76. The trade was a 2.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Amy Banse sold 606 shares of the stock in a transaction that occurred on 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 sale, the director now owns 32,929 shares in the company, valued at approximately $18,110,950. The trade was a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,293 shares of company stock worth $1,679,809. 0.15% of the stock is currently owned by company insiders.
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.
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