Adobe Inc. (NASDAQ:ADBE) Holdings Reduced by DGS Capital Management LLC

DGS Capital Management LLC lessened its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 10.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,182 shares of the software company’s stock after selling 254 shares during the period. DGS Capital Management LLC’s holdings in Adobe were worth $970,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in ADBE. Piscataqua Savings Bank raised its stake in Adobe by 226.7% during the 3rd quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock valued at $25,000 after acquiring an additional 34 shares in the last quarter. Legacy Investment Solutions LLC acquired a new position in shares of Adobe during the third quarter valued at $26,000. Groupama Asset Managment increased its holdings in shares of 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 purchasing an additional 11,522 shares during the period. MidAtlantic Capital Management Inc. bought a new stake in shares of Adobe during the third quarter valued at about $30,000. Finally, True Wealth Design LLC lifted its holdings in Adobe by 141.7% in the third quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock worth $30,000 after purchasing an additional 34 shares during the period. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Adobe

In other news, Director Amy Banse sold 606 shares of the firm’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $550.00, for a total transaction of $333,300.00. Following the transaction, the director now owns 32,929 shares in the company, valued at approximately $18,110,950. This trade represents a 1.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Jillian Forusz sold 676 shares of Adobe stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $484.97, for a total transaction of $327,839.72. Following the completion of the sale, the chief accounting officer now directly owns 2,715 shares of the company’s stock, valued at approximately $1,316,693.55. The trade was a 19.94 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.15% of the company’s stock.

Adobe Price Performance

Shares of ADBE opened at $435.38 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. The company has a market capitalization of $189.52 billion, a price-to-earnings ratio of 35.11, a P/E/G ratio of 2.12 and a beta of 1.31. The business’s 50-day moving average is $469.50 and its 200-day moving average is $509.04. Adobe Inc. has a fifty-two week low of $403.75 and a fifty-two week high of $638.25.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, beating the consensus estimate of $4.67 by $0.14. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The business had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.54 billion. During the same period in the previous year, the company posted $3.52 EPS. Adobe’s revenue was up 11.1% on a year-over-year basis. Equities research analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on ADBE shares. Bank of America lowered their target price on shares of Adobe from $640.00 to $605.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. TD Cowen downgraded Adobe from a “buy” rating to a “hold” rating and cut their target price for the stock from $625.00 to $550.00 in a research report on Thursday, December 12th. Royal Bank of Canada lowered their price target on Adobe from $610.00 to $590.00 and set an “outperform” rating on the stock in a research report on Thursday, December 12th. StockNews.com downgraded Adobe from a “strong-buy” rating to a “buy” rating in a research note on Monday, January 20th. Finally, Oppenheimer decreased their target price on Adobe from $625.00 to $600.00 and set an “outperform” rating for the company in a research note on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $573.00.

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.