Red Spruce Capital LLC bought a new position in Adobe Inc (NASDAQ:ADBE) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,219 shares of the software company’s stock, valued at approximately $402,000.

Other institutional investors have also recently added to or reduced their stakes in the company. JJJ Advisors Inc. acquired a new stake in shares of Adobe during the third quarter worth approximately $28,000. Hexavest Inc. boosted its holdings in shares of Adobe by 58.2% during the third quarter. Hexavest Inc. now owns 106 shares of the software company’s stock worth $29,000 after purchasing an additional 39 shares during the period. Venturi Wealth Management LLC acquired a new stake in shares of Adobe during the third quarter worth approximately $35,000. Marquette Asset Management LLC boosted its holdings in shares of Adobe by 57.8% during the third quarter. Marquette Asset Management LLC now owns 142 shares of the software company’s stock worth $39,000 after purchasing an additional 52 shares during the period. Finally, Candriam Luxembourg S.C.A. boosted its holdings in shares of Adobe by 2.5% during the third quarter. Candriam Luxembourg S.C.A. now owns 147,304 shares of the software company’s stock worth $41,000 after purchasing an additional 3,575 shares during the period. 84.84% of the stock is currently owned by institutional investors and hedge funds.

In related news, CMO Ann Lewnes sold 3,000 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $300.54, for a total transaction of $901,620.00. Following the transaction, the chief marketing officer now owns 45,528 shares of the company’s stock, valued at $13,682,985.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John E. Warnock sold 1,600 shares of the business’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $345.38, for a total transaction of $552,608.00. Following the transaction, the director now directly owns 16,088 shares in the company, valued at approximately $5,556,473.44. The disclosure for this sale can be found here. Insiders have sold 37,312 shares of company stock worth $12,297,624 in the last ninety days. 0.32% of the stock is currently owned by insiders.

Several analysts recently commented on the stock. Citigroup raised their price target on shares of Adobe from $313.00 to $321.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. UBS Group restated a “buy” rating and set a $360.00 price target on shares of Adobe in a report on Friday, December 13th. Canaccord Genuity raised their price target on shares of Adobe from $320.00 to $350.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Stephens set a $327.00 target price on shares of Adobe and gave the company a “buy” rating in a research note on Wednesday, September 18th. Finally, JMP Securities reiterated a “hold” rating on shares of Adobe in a research note on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and seventeen have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $333.21.

NASDAQ:ADBE opened at $342.94 on Thursday. Adobe Inc has a 12 month low of $237.26 and a 12 month high of $347.27. The firm has a market cap of $166.83 billion, a price-to-earnings ratio of 52.28, a P/E/G ratio of 2.65 and a beta of 1.11. The company has a quick ratio of 0.74, a current ratio of 0.79 and a debt-to-equity ratio of 0.09. The company’s 50 day moving average is $323.24 and its 200-day moving average is $296.87.

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

Read More: How is the LIBOR rate calculated?

Institutional Ownership by Quarter for Adobe (NASDAQ:ADBE)

Receive News & Ratings for Adobe Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adobe and related companies with MarketBeat.com's FREE daily email newsletter.