Folger Nolan Fleming Douglas Capital Management Inc. Acquires 29 Shares of Adobe Inc. (NASDAQ:ADBE)

Folger Nolan Fleming Douglas Capital Management Inc. lifted its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 0.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,723 shares of the software company’s stock after purchasing an additional 29 shares during the period. Adobe accounts for about 1.0% of Folger Nolan Fleming Douglas Capital Management Inc.’s portfolio, making the stock its 28th biggest position. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Adobe were worth $8,784,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. One Charles Private Wealth Services LLC boosted its position in shares of Adobe by 2.2% during the 3rd quarter. One Charles Private Wealth Services LLC now owns 785 shares of the software company’s stock valued at $400,000 after purchasing an additional 17 shares in the last quarter. Invst LLC boosted its position in shares of Adobe by 1.9% during the 3rd quarter. Invst LLC now owns 915 shares of the software company’s stock valued at $467,000 after purchasing an additional 17 shares in the last quarter. Raleigh Capital Management Inc. boosted its position in shares of Adobe by 3.1% during the 3rd quarter. Raleigh Capital Management Inc. now owns 559 shares of the software company’s stock valued at $285,000 after purchasing an additional 17 shares in the last quarter. Lantz Financial LLC boosted its position in shares of Adobe by 2.5% during the 4th quarter. Lantz Financial LLC now owns 689 shares of the software company’s stock valued at $411,000 after purchasing an additional 17 shares in the last quarter. Finally, B & T Capital Management DBA Alpha Capital Management boosted its position in shares of Adobe by 4.3% during the 4th quarter. B & T Capital Management DBA Alpha Capital Management now owns 417 shares of the software company’s stock valued at $249,000 after purchasing an additional 17 shares in the last quarter. Institutional investors own 81.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ADBE. JMP Securities reiterated a “market perform” rating on shares of Adobe in a report on Thursday, March 28th. Evercore ISI reiterated an “outperform” rating and issued a $650.00 price target on shares of Adobe in a report on Wednesday, March 27th. TheStreet lowered Adobe from a “b-” rating to a “c+” rating in a report on Tuesday, March 19th. JPMorgan Chase & Co. cut their price target on Adobe from $600.00 to $570.00 and set a “neutral” rating on the stock in a report on Friday, March 15th. Finally, Stifel Nicolaus cut their price target on Adobe from $650.00 to $625.00 and set a “buy” rating on the stock in a report on Friday, March 15th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat, Adobe has an average rating of “Moderate Buy” and an average target price of $620.72.

Insider Transactions at Adobe

In other news, CAO Mark S. Garfield sold 97 shares of the firm’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $468.41, for a total value of $45,435.77. Following the completion of the transaction, the chief accounting officer now directly owns 4,128 shares of the company’s stock, valued at $1,933,596.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Anil Chakravarthy sold 100 shares of Adobe stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $471.00, for a total transaction of $47,100.00. Following the completion of the sale, the insider now owns 33,609 shares of the company’s stock, valued at $15,829,839. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Mark S. Garfield sold 97 shares of Adobe stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $468.41, for a total value of $45,435.77. Following the sale, the chief accounting officer now directly owns 4,128 shares of the company’s stock, valued at approximately $1,933,596.48. The disclosure for this sale can be found here. Insiders sold 293 shares of company stock valued at $137,656 over the last three months. Company insiders own 0.15% of the company’s stock.

Adobe Stock Performance

NASDAQ ADBE traded up $4.12 on Friday, hitting $477.56. 2,460,261 shares of the stock traded hands, compared to its average volume of 2,815,745. The business’s fifty day moving average is $515.34 and its two-hundred day moving average is $564.33. Adobe Inc. has a 12 month low of $331.89 and a 12 month high of $638.25. The firm has a market capitalization of $213.95 billion, a price-to-earnings ratio of 45.66, a PEG ratio of 2.56 and a beta of 1.28. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.05 and a current ratio of 1.05.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Thursday, March 14th. The software company reported $4.48 earnings per share for the quarter, beating the consensus estimate of $4.38 by $0.10. Adobe had a return on equity of 39.12% and a net margin of 24.08%. The business had revenue of $5.18 billion during the quarter, compared to analyst estimates of $5.14 billion. During the same period in the prior year, the company earned $2.97 earnings per share. Adobe’s revenue was up 11.3% compared to the same quarter last year. As a group, equities analysts anticipate that Adobe Inc. will post 14.55 EPS for the current fiscal year.

Adobe announced that its board has initiated a stock buyback plan on Thursday, March 14th that allows the company to buyback $25.00 billion in shares. This buyback authorization allows the software company to buy up to 10.8% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

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.