Fiera Capital Corp Raises Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

Fiera Capital Corp boosted its position in shares of Adobe Inc. (NASDAQ:ADBE) by 1.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 411,054 shares of the software company’s stock after acquiring an additional 5,278 shares during the quarter. Fiera Capital Corp’s holdings in Adobe were worth $182,787,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Legacy Investment Solutions LLC acquired a new stake in shares of Adobe in the third quarter worth $26,000. Piscataqua Savings Bank boosted its holdings in Adobe by 226.7% in the third quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock valued at $25,000 after purchasing an additional 34 shares during the last quarter. MidAtlantic Capital Management Inc. acquired a new stake in Adobe during the 3rd quarter worth about $30,000. True Wealth Design LLC raised its stake in shares of Adobe by 141.7% during the 3rd quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock valued at $30,000 after buying an additional 34 shares during the last quarter. Finally, Briaud Financial Planning Inc acquired a new position in shares of Adobe in the 3rd quarter valued at about $36,000. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Insiders Place Their Bets

In other Adobe news, EVP Scott Belsky sold 3,819 shares of Adobe stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $430.24, for a total transaction of $1,643,086.56. Following the transaction, the executive vice president now directly owns 18,334 shares of the company’s stock, valued at $7,888,020.16. The trade was a 17.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Amy Banse sold 606 shares of the stock in a transaction that occurred 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 completion of the sale, the director now directly owns 32,929 shares of the company’s stock, valued at approximately $18,110,950. This trade represents a 1.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,681 shares of company stock valued at $2,525,126 in the last ninety days. 0.15% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently commented on ADBE shares. Barclays dropped their target price on Adobe from $675.00 to $645.00 and set an “overweight” rating on the stock in a report on Thursday, December 12th. Sanford C. Bernstein dropped their price objective on shares of Adobe from $644.00 to $587.00 and set an “outperform” rating on the stock in a research note on Thursday, December 12th. JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a report on Thursday, December 12th. Wells Fargo & Company lowered their price target 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, BMO Capital Markets cut their price objective on shares of Adobe from $600.00 to $570.00 and set an “outperform” rating for the company in a report on Thursday, December 12th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $573.00.

Adobe Trading Up 0.9 %

Shares of ADBE stock opened at $462.76 on Thursday. Adobe Inc. has a fifty-two week low of $403.75 and a fifty-two week high of $610.33. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07. The stock’s fifty day moving average is $451.47 and its two-hundred day moving average is $497.93. The firm has a market capitalization of $201.44 billion, a P/E ratio of 37.32, a PEG ratio of 2.11 and a beta of 1.31.

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

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.