Sherbrooke Park Advisers LLC Has $1.30 Million Position in Adobe Inc. (NASDAQ:ADBE)

Sherbrooke Park Advisers LLC raised its position in Adobe Inc. (NASDAQ:ADBE - Free Report) by 41.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,920 shares of the software company's stock after buying an additional 862 shares during the period. Adobe accounts for about 0.4% of Sherbrooke Park Advisers LLC's investment portfolio, making the stock its 22nd biggest position. Sherbrooke Park Advisers LLC's holdings in Adobe were worth $1,298,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Decker Retirement Planning Inc. bought a new position in shares of Adobe in the fourth quarter worth about $31,000. Summit Securities Group LLC bought a new position in shares of Adobe in the fourth quarter worth about $31,000. Caitlin John LLC raised its stake in shares of Adobe by 171.4% in the fourth quarter. Caitlin John LLC now owns 76 shares of the software company's stock worth $34,000 after acquiring an additional 48 shares during the last quarter. Mascoma Wealth Management LLC raised its stake in shares of Adobe by 142.9% in the fourth quarter. Mascoma Wealth Management LLC now owns 85 shares of the software company's stock worth $38,000 after acquiring an additional 50 shares during the last quarter. Finally, LFA Lugano Financial Advisors SA bought a new position in shares of Adobe in the fourth quarter worth about $38,000. 81.79% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on ADBE shares. Royal Bank of Canada dropped their target price on shares of Adobe from $530.00 to $480.00 and set an "outperform" rating for the company in a research note on Monday, April 14th. Robert W. Baird dropped their price target on shares of Adobe from $490.00 to $410.00 and set a "neutral" rating for the company in a research note on Wednesday, March 19th. Oppenheimer dropped their price target on shares of Adobe from $560.00 to $530.00 and set an "outperform" rating for the company in a research note on Thursday, March 13th. Morgan Stanley dropped their price target on shares of Adobe from $600.00 to $510.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Adobe from $580.00 to $540.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. Eleven research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $502.88.

Adobe Stock Performance

Shares of ADBE traded up $3.55 during trading hours on Monday, hitting $420.68. The company had a trading volume of 3,005,315 shares, compared to its average volume of 3,444,395. The firm has a market cap of $179.29 billion, a price-to-earnings ratio of 33.93, a PEG ratio of 2.15 and a beta of 1.55. The business has a fifty day moving average of $375.68 and a 200-day moving average of $433.63. Adobe Inc. has a 12 month low of $332.01 and a 12 month high of $587.75. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29.

Adobe (NASDAQ:ADBE - Get Free Report) last released its quarterly earnings results on Wednesday, March 12th. The software company reported $5.08 EPS for the quarter, topping analysts' consensus estimates of $4.97 by $0.11. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The business had revenue of $5.71 billion for the quarter, compared to analyst estimates of $5.66 billion. During the same period last year, the firm earned $4.48 earnings per share. Equities analysts anticipate that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Daniel Durn acquired 1,300 shares of Adobe stock in a transaction on Thursday, March 20th. The shares were purchased at an average cost of $390.58 per share, for a total transaction of $507,754.00. Following the completion of the purchase, the chief financial officer now directly owns 29,876 shares of the company's stock, valued at approximately $11,668,968.08. This represents a 4.55% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.16% of the stock is owned by insiders.

About Adobe

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.