Altman Advisors Inc. Invests $1.35 Million in Adobe Inc (ADBE) Stock

Altman Advisors Inc. purchased a new stake in Adobe Inc (NASDAQ:ADBE) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 5,964 shares of the software company’s stock, valued at approximately $1,349,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of ADBE. Greenleaf Trust grew its position in Adobe by 9.5% in the 3rd quarter. Greenleaf Trust now owns 4,100 shares of the software company’s stock worth $1,107,000 after purchasing an additional 355 shares in the last quarter. SG Americas Securities LLC grew its position in Adobe by 76.9% in the 3rd quarter. SG Americas Securities LLC now owns 87,663 shares of the software company’s stock worth $23,665,000 after purchasing an additional 38,095 shares in the last quarter. Mackenzie Financial Corp grew its position in Adobe by 26.1% in the 3rd quarter. Mackenzie Financial Corp now owns 30,772 shares of the software company’s stock worth $8,307,000 after purchasing an additional 6,372 shares in the last quarter. Eqis Capital Management Inc. grew its position in Adobe by 24.6% in the 4th quarter. Eqis Capital Management Inc. now owns 1,126 shares of the software company’s stock worth $255,000 after purchasing an additional 222 shares in the last quarter. Finally, Fulton Bank N.A. grew its position in Adobe by 26.1% in the 4th quarter. Fulton Bank N.A. now owns 1,251 shares of the software company’s stock worth $283,000 after purchasing an additional 259 shares in the last quarter. 83.74% of the stock is owned by hedge funds and other institutional investors.

Shares of ADBE stock opened at $258.90 on Friday. The company has a market cap of $126.21 billion, a P/E ratio of 46.65, a price-to-earnings-growth ratio of 2.53 and a beta of 1.15. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.13 and a current ratio of 1.13. Adobe Inc has a 12 month low of $201.76 and a 12 month high of $277.61.



Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Thursday, December 13th. The software company reported $1.83 EPS for the quarter, missing the Zacks’ consensus estimate of $1.88 by ($0.05). The business had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.43 billion. Adobe had a net margin of 28.69% and a return on equity of 31.19%. The business’s quarterly revenue was up 20.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.26 earnings per share. As a group, research analysts forecast that Adobe Inc will post 6.21 EPS for the current year.

A number of equities research analysts have issued reports on ADBE shares. ValuEngine raised shares of Adobe from a “hold” rating to a “buy” rating in a research report on Tuesday, November 27th. Zacks Investment Research raised shares of Adobe from a “hold” rating to a “buy” rating and set a $260.00 price objective for the company in a research report on Tuesday, November 27th. Credit Suisse Group reaffirmed a “buy” rating and issued a $300.00 price objective on shares of Adobe in a research report on Monday, December 10th. Citigroup reduced their price objective on shares of Adobe from $309.00 to $300.00 and set a “buy” rating for the company in a research report on Monday, December 10th. Finally, Nomura set a $315.00 target price on shares of Adobe and gave the company a “buy” rating in a research note on Friday, December 14th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eighteen have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $284.44.

In related news, EVP Ann Lewnes sold 2,692 shares of the company’s stock in a transaction that occurred on Wednesday, December 19th. The shares were sold at an average price of $226.05, for a total transaction of $608,526.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Bradley Rencher sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, January 31st. The shares were sold at an average price of $246.46, for a total transaction of $7,393,800.00. Following the sale, the executive vice president now owns 42,340 shares in the company, valued at $10,435,116.40. The disclosure for this sale can be found here. Insiders have sold a total of 282,344 shares of company stock worth $69,007,648 over the last 90 days. 0.33% of the stock is currently owned by corporate insiders.

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Adobe Profile

Adobe Inc operates as a diversified software company worldwide. Its Digital Media segment provides tools and solutions that enable individuals, small and medium businesses, and enterprises to create, publish, promote, and monetize their digital content. Its flagship product is Creative Cloud, a subscription service that allows customer to download and access the latest versions of its creative products.

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Institutional Ownership by Quarter for Adobe (NASDAQ:ADBE)

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