Slow Capital Inc. Buys 639 Shares of Adobe Inc. (NASDAQ:ADBE)

Slow Capital Inc. increased its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 9.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,250 shares of the software company’s stock after acquiring an additional 639 shares during the quarter. Slow Capital Inc.’s holdings in Adobe were worth $3,224,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Magnolia Capital Advisors LLC increased its holdings in shares of Adobe by 13.9% during the second quarter. Magnolia Capital Advisors LLC now owns 664 shares of the software company’s stock valued at $369,000 after acquiring an additional 81 shares in the last quarter. NewEdge Advisors LLC grew its position in Adobe by 19.3% in the 2nd quarter. NewEdge Advisors LLC now owns 40,867 shares of the software company’s stock valued at $22,704,000 after purchasing an additional 6,622 shares during the period. Second Line Capital LLC lifted its stake in shares of Adobe by 9.9% in the second quarter. Second Line Capital LLC now owns 4,505 shares of the software company’s stock valued at $2,503,000 after buying an additional 404 shares in the last quarter. Regal Investment Advisors LLC grew its holdings in shares of Adobe by 2.6% during the second quarter. Regal Investment Advisors LLC now owns 1,382 shares of the software company’s stock valued at $768,000 after buying an additional 35 shares during the last quarter. Finally, Kimelman & Baird LLC bought a new stake in shares of Adobe during the second quarter worth about $18,890,000. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Adobe Stock Performance

Shares of NASDAQ:ADBE opened at $438.59 on Tuesday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29. The company has a 50-day moving average price of $468.14 and a 200-day moving average price of $507.26. The company has a market cap of $190.92 billion, a price-to-earnings ratio of 35.37, a price-to-earnings-growth ratio of 2.12 and a beta of 1.31. Adobe Inc. has a 12 month low of $403.75 and a 12 month high of $638.25.

Adobe (NASDAQ:ADBE) last issued 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 firm 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 business’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period last year, the company earned $3.52 EPS. As a group, equities analysts anticipate that Adobe Inc. will post 16.65 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on ADBE shares. JMP Securities reiterated a “market perform” rating on shares of Adobe in a research note on Thursday, December 12th. Royal Bank of Canada cut their target price on Adobe from $610.00 to $590.00 and set an “outperform” rating on the stock in a research report on Thursday, December 12th. Stifel Nicolaus lowered their price target on Adobe from $650.00 to $600.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. Wells Fargo & Company cut their price objective on shares of Adobe from $700.00 to $640.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $475.00 price target (down from $600.00) on shares of Adobe in a research report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $573.00.

Insider Buying and Selling

In related news, Director Amy Banse sold 606 shares of the company’s stock in a transaction 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 sale, the director now directly owns 32,929 shares of the company’s stock, valued at $18,110,950. This represents a 1.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.15% of the stock is owned by insiders.

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.