516 Shares in Adobe Inc (NASDAQ:ADBE) Bought by Tfo Tdc LLC

Tfo Tdc LLC purchased a new stake in shares of Adobe Inc (NASDAQ:ADBE) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 516 shares of the software company’s stock, valued at approximately $170,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Cibc Bank USA grew its position in Adobe by 29.0% during the 3rd quarter. Cibc Bank USA now owns 1,694 shares of the software company’s stock worth $468,000 after acquiring an additional 381 shares during the last quarter. RDA Financial Network boosted its position in Adobe by 2.1% in the 3rd quarter. RDA Financial Network now owns 3,982 shares of the software company’s stock valued at $1,197,000 after buying an additional 83 shares during the last quarter. Keybank National Association OH boosted its position in Adobe by 2.6% in the 3rd quarter. Keybank National Association OH now owns 44,059 shares of the software company’s stock valued at $12,171,000 after buying an additional 1,123 shares during the last quarter. Bogart Wealth LLC boosted its position in Adobe by 3.0% in the 3rd quarter. Bogart Wealth LLC now owns 2,422 shares of the software company’s stock valued at $669,000 after buying an additional 71 shares during the last quarter. Finally, Covington Capital Management raised its stake in shares of Adobe by 0.7% in the third quarter. Covington Capital Management now owns 5,910 shares of the software company’s stock valued at $1,633,000 after acquiring an additional 43 shares during the period. 85.06% of the stock is currently owned by institutional investors and hedge funds.

In other news, Director Charles M. Geschke sold 16,764 shares of the firm’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $332.00, for a total value of $5,565,648.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Ann Lewnes sold 3,000 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $300.54, for a total value of $901,620.00. Following the completion of the transaction, the chief marketing officer now owns 45,528 shares of the company’s stock, valued at approximately $13,682,985.12. The disclosure for this sale can be found here. Insiders sold 37,312 shares of company stock valued at $12,297,624 in the last quarter. 0.32% of the stock is currently owned by company insiders.

A number of research firms recently commented on ADBE. Nomura lifted their target price on shares of Adobe from $310.00 to $318.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Credit Suisse Group raised their price target on shares of Adobe from $350.00 to $385.00 and gave the stock an “outperform” rating in a research report on Monday, January 13th. UBS Group reissued a “buy” rating and set a $360.00 price target on shares of Adobe in a research report on Friday, December 13th. Barclays reaffirmed a “neutral” rating and set a $330.00 target price on shares of Adobe in a report on Monday, December 16th. Finally, BMO Capital Markets lifted their target price on shares of Adobe from $300.00 to $350.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and nineteen have issued a buy rating to the company’s stock. Adobe presently has a consensus rating of “Buy” and an average target price of $336.28.

NASDAQ:ADBE opened at $343.98 on Monday. The stock has a fifty day moving average price of $331.01 and a two-hundred day moving average price of $299.09. The stock has a market capitalization of $169.41 billion, a price-to-earnings ratio of 57.33, a PEG ratio of 2.70 and a beta of 1.11. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.79 and a current ratio of 0.79. Adobe Inc has a 1 year low of $237.27 and a 1 year high of $354.28.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Thursday, December 12th. The software company reported $2.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.26 by $0.03. The firm had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.97 billion. Adobe had a return on equity of 31.47% and a net margin of 26.42%. Adobe’s revenue was up 21.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.83 earnings per share. On average, analysts predict that Adobe Inc will post 8.02 EPS for the current year.

About Adobe

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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