First Business Financial Services Inc. Has $1.27 Million Stock Position in Adobe Inc. (NASDAQ:ADBE)

First Business Financial Services Inc. raised its holdings in Adobe Inc. (NASDAQ:ADBE) by 1.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,862 shares of the software company’s stock after buying an additional 34 shares during the quarter. First Business Financial Services Inc.’s holdings in Adobe were worth $1,273,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in ADBE. Proficio Capital Partners LLC lifted its stake in Adobe by 82,528.8% in the fourth quarter. Proficio Capital Partners LLC now owns 1,042,775 shares of the software company’s stock valued at $463,701,000 after buying an additional 1,041,513 shares during the period. FMR LLC lifted its stake in Adobe by 8.8% in the third quarter. FMR LLC now owns 9,690,163 shares of the software company’s stock valued at $5,017,373,000 after buying an additional 787,356 shares during the period. Assenagon Asset Management S.A. lifted its stake in Adobe by 42.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,168,584 shares of the software company’s stock valued at $519,646,000 after buying an additional 347,536 shares during the period. Seilern Investment Management Ltd acquired a new position in Adobe in the fourth quarter valued at approximately $110,744,000. Finally, Erste Asset Management GmbH acquired a new position in Adobe in the third quarter valued at approximately $126,703,000. 81.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ADBE has been the topic of a number of research reports. Wells Fargo & Company lowered their target price on Adobe from $700.00 to $640.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Citigroup lowered their target price on Adobe from $616.00 to $590.00 and set a “neutral” rating on the stock in a research report on Monday, December 9th. Jefferies Financial Group lowered their target price on Adobe from $700.00 to $650.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. BNP Paribas raised Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 target price on the stock in a research report on Wednesday, January 15th. Finally, Stifel Nicolaus lowered their target price on Adobe from $650.00 to $600.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Adobe has an average rating of “Moderate Buy” and an average target price of $570.88.

Adobe Stock Up 1.2 %

Shares of NASDAQ:ADBE opened at $451.24 on Thursday. The company has a market capitalization of $196.42 billion, a PE ratio of 36.39, a price-to-earnings-growth ratio of 2.15 and a beta of 1.37. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. The business has a fifty day moving average price of $439.61 and a two-hundred day moving average price of $488.77. Adobe Inc. has a 1 year low of $403.75 and a 1 year high of $587.75.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.67 by $0.14. The firm had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.54 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.52 EPS. Analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current year.

Insider Activity

In other 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 transaction of $333,300.00. Following the transaction, the director now owns 32,929 shares of the company’s stock, valued at $18,110,950. This represents a 1.81 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David A. Ricks purchased 2,250 shares of the company’s stock in a transaction dated Tuesday, January 28th. The shares were purchased at an average cost of $443.98 per share, for a total transaction of $998,955.00. Following the transaction, the director now directly owns 4,984 shares in the company, valued at approximately $2,212,796.32. The trade was a 82.30 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 5,681 shares of company stock valued at $2,525,126 in the last 90 days. Insiders own 0.15% of the company’s stock.

Adobe 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.