Adobe Inc. (NASDAQ:ADBE) Shares Purchased by North Star Asset Management Inc.

North Star Asset Management Inc. lifted its holdings in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 1.2% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 88,876 shares of the software company's stock after acquiring an additional 1,020 shares during the period. Adobe makes up approximately 1.7% of North Star Asset Management Inc.'s investment portfolio, making the stock its 11th largest holding. North Star Asset Management Inc.'s holdings in Adobe were worth $39,521,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of ADBE. Fort Washington Investment Advisors Inc. OH lifted its holdings in Adobe by 0.9% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 3,641 shares of the software company's stock valued at $1,619,000 after acquiring an additional 33 shares during the period. Advisory Alpha LLC raised its stake in shares of Adobe by 28.1% during the 4th quarter. Advisory Alpha LLC now owns 725 shares of the software company's stock worth $322,000 after buying an additional 159 shares during the period. Avior Wealth Management LLC raised its stake in shares of Adobe by 65.9% during the 4th quarter. Avior Wealth Management LLC now owns 1,309 shares of the software company's stock worth $582,000 after buying an additional 520 shares during the period. Red Door Wealth Management LLC raised its stake in shares of Adobe by 4.1% during the 4th quarter. Red Door Wealth Management LLC now owns 11,351 shares of the software company's stock worth $5,048,000 after buying an additional 447 shares during the period. Finally, Secure Asset Management LLC raised its stake in shares of Adobe by 7.1% during the 4th quarter. Secure Asset Management LLC now owns 1,175 shares of the software company's stock worth $522,000 after buying an additional 78 shares during the period. Hedge funds and other institutional investors own 81.79% of the company's stock.

Adobe Trading Up 1.3%

Shares of NASDAQ ADBE traded up $5.41 during mid-day trading on Tuesday, reaching $413.10. 2,678,312 shares of the company's stock were exchanged, compared to its average volume of 3,446,947. The firm has a market capitalization of $176.06 billion, a price-to-earnings ratio of 33.31, a PEG ratio of 2.15 and a beta of 1.55. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07. Adobe Inc. has a 52-week low of $332.01 and a 52-week high of $587.75. The company's 50-day moving average is $377.53 and its 200-day moving average is $430.35.

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

Insider Transactions at Adobe

In related news, CFO Daniel Durn acquired 1,300 shares of the firm's stock in a transaction dated Thursday, March 20th. The stock was acquired at an average price of $390.58 per share, for a total transaction of $507,754.00. Following the purchase, the chief financial officer now owns 29,876 shares of the company's stock, valued at $11,668,968.08. This represents a 4.55% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.16% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ADBE. Evercore ISI reduced their target price on Adobe from $650.00 to $550.00 and set an "outperform" rating for the company in a research note on Thursday, March 13th. Wall Street Zen raised Adobe from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd. Mizuho reduced their price objective on Adobe from $620.00 to $575.00 and set an "outperform" rating for the company in a research note on Thursday, March 13th. KeyCorp raised Adobe from an "underweight" rating to a "sector weight" rating in a research note on Friday, March 21st. Finally, UBS Group reduced their price objective on Adobe from $410.00 to $380.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Eleven analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $502.88.

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.