Jacobs & Co. CA Has $16.49 Million Holdings in Adobe Inc. (NASDAQ:ADBE)

Jacobs & Co. CA grew its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 2.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 37,090 shares of the software company’s stock after acquiring an additional 973 shares during the quarter. Adobe accounts for approximately 1.7% of Jacobs & Co. CA’s investment portfolio, making the stock its 12th largest position. Jacobs & Co. CA’s holdings in Adobe were worth $16,493,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in ADBE. Quest Partners LLC increased its position in Adobe by 23.3% in the 2nd quarter. Quest Partners LLC now owns 588 shares of the software company’s stock valued at $327,000 after acquiring an additional 111 shares during the period. LPL Financial LLC grew its position in shares of Adobe by 2.6% in the 2nd quarter. LPL Financial LLC now owns 425,440 shares of the software company’s stock valued at $236,349,000 after buying an additional 10,613 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Adobe by 7.5% in the second quarter. American Century Companies Inc. now owns 382,397 shares of the software company’s stock valued at $212,437,000 after buying an additional 26,619 shares during the period. Achmea Investment Management B.V. raised its position in shares of Adobe by 5.2% during the second quarter. Achmea Investment Management B.V. now owns 62,815 shares of the software company’s stock worth $34,896,000 after acquiring an additional 3,115 shares during the last quarter. Finally, Johnson Investment Counsel Inc. lifted its stake in shares of Adobe by 12.0% in the second quarter. Johnson Investment Counsel Inc. now owns 144,261 shares of the software company’s stock worth $80,143,000 after acquiring an additional 15,459 shares during the period. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CAO Jillian Forusz sold 676 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $484.97, for a total value of $327,839.72. Following the transaction, the chief accounting officer now 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through 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 transaction 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. 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 quarter, insiders sold 3,293 shares of company stock valued at $1,679,809. Corporate insiders own 0.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ADBE. DA Davidson dropped their price target on shares of Adobe from $685.00 to $625.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. BMO Capital Markets decreased their target price on Adobe from $600.00 to $570.00 and set an “outperform” rating for the company in a research note on Thursday, December 12th. Barclays dropped their price target on Adobe from $675.00 to $645.00 and set an “overweight” rating on the stock in a research note on Thursday, December 12th. Sanford C. Bernstein dropped their price objective on shares of Adobe from $644.00 to $587.00 and set an “outperform” rating on the stock in a report on Thursday, December 12th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $475.00 price objective (down previously from $600.00) on shares of Adobe in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Adobe currently has a consensus rating of “Moderate Buy” and a consensus price target of $575.85.

Adobe Stock Down 2.6 %

Shares of ADBE stock traded down $10.76 during trading hours on Friday, hitting $408.82. 3,763,887 shares of the company’s stock traded hands, compared to its average volume of 3,911,959. The stock’s fifty day simple moving average is $485.54 and its two-hundred day simple moving average is $517.97. The stock has a market cap of $179.96 billion, a price-to-earnings ratio of 32.97, a PEG ratio of 2.51 and a beta of 1.31. Adobe Inc. has a 12-month low of $405.32 and a 12-month high of $638.25. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.28.

Adobe (NASDAQ:ADBE) last issued its earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.67 by $0.14. Adobe had a net margin of 25.85% and a return on equity of 45.22%. The business had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.54 billion. During the same period in the previous year, the company earned $3.52 earnings per share. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. On average, analysts expect that Adobe Inc. will post 16.73 EPS for the current year.

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.