Johnson Financial Group Inc. Has $4.04 Million Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

Johnson Financial Group Inc. lifted its position in Adobe Inc. (NASDAQ:ADBE) by 6.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,237 shares of the software company’s stock after buying an additional 562 shares during the period. Johnson Financial Group Inc.’s holdings in Adobe were worth $4,041,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Geode Capital Management LLC increased its holdings in Adobe by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 10,680,375 shares of the software company’s stock worth $4,739,788,000 after purchasing an additional 151,286 shares in the last quarter. Norges Bank acquired a new position in Adobe during the fourth quarter worth $2,553,035,000. Edgewood Management LLC increased its stake in shares of Adobe by 20.7% during the 4th quarter. Edgewood Management LLC now owns 4,059,119 shares of the software company’s stock worth $1,805,009,000 after purchasing an additional 696,172 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Adobe by 3.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,808,909 shares of the software company’s stock valued at $1,249,066,000 after buying an additional 92,458 shares during the period. Finally, Franklin Resources Inc. boosted its stake in shares of Adobe by 7.3% during the 3rd quarter. Franklin Resources Inc. now owns 2,424,024 shares of the software company’s stock worth $1,235,157,000 after acquiring an additional 163,983 shares during the period. Institutional investors and hedge funds own 81.79% of the company’s stock.

Adobe Trading Up 1.9 %

NASDAQ ADBE opened at $367.72 on Friday. The business has a 50 day simple moving average of $392.89 and a 200 day simple moving average of $445.42. The stock has a market capitalization of $156.72 billion, a P/E ratio of 29.65, a P/E/G ratio of 2.15 and a beta of 1.49. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. Adobe Inc. has a one year low of $332.01 and a one year high of $587.75.

Adobe (NASDAQ:ADBE) last issued its earnings results on Wednesday, March 12th. The software company reported $5.08 EPS for the quarter, beating analysts’ consensus estimates of $4.97 by $0.11. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The business had revenue of $5.71 billion during the quarter, compared to analyst estimates of $5.66 billion. During the same period in the previous year, the company posted $4.48 EPS. Research analysts expect that Adobe Inc. will post 16.65 earnings per share for the current year.

Insider Activity

In other Adobe news, EVP Scott Belsky sold 3,819 shares of the company’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $430.24, for a total value of $1,643,086.56. Following the completion of the transaction, the executive vice president now owns 18,334 shares in the company, valued at $7,888,020.16. This represents a 17.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Jillian Forusz sold 334 shares of the firm’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total transaction of $145,567.22. Following the sale, the chief accounting officer now owns 2,685 shares of the company’s stock, valued at $1,170,203.55. This trade represents a 11.06 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.16% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. Robert W. Baird reduced their target price on shares of Adobe from $490.00 to $410.00 and set a “neutral” rating for the company in a report on Wednesday, March 19th. DA Davidson cut their price target on Adobe from $600.00 to $450.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Evercore ISI reduced their price objective on shares of Adobe from $650.00 to $550.00 and set an “outperform” rating on the stock in a research note on Thursday, March 13th. Mizuho reduced their target price on Adobe from $620.00 to $575.00 and set an “outperform” rating on the stock in a report on Thursday, March 13th. Finally, Royal Bank of Canada reduced their price target on shares of Adobe from $530.00 to $480.00 and set an “outperform” rating on the stock in a research note on Monday, April 14th. Eleven equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $502.88.

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.