Finward Bancorp Acquires Shares of 845 Adobe Inc. (NASDAQ:ADBE)

Finward Bancorp purchased a new position in Adobe Inc. (NASDAQ:ADBE - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 845 shares of the software company's stock, valued at approximately $376,000.

Other institutional investors have also bought and sold shares of the company. Decker Retirement Planning Inc. bought a new position in Adobe in the 4th quarter worth approximately $31,000. Summit Securities Group LLC purchased a new position in shares of Adobe in the fourth quarter valued at $31,000. Caitlin John LLC lifted its holdings in Adobe by 171.4% during the 4th quarter. Caitlin John LLC now owns 76 shares of the software company's stock worth $34,000 after purchasing an additional 48 shares in the last quarter. Mascoma Wealth Management LLC grew its holdings in Adobe by 142.9% during the 4th quarter. Mascoma Wealth Management LLC now owns 85 shares of the software company's stock valued at $38,000 after buying an additional 50 shares in the last quarter. Finally, LFA Lugano Financial Advisors SA bought a new stake in shares of Adobe during the fourth quarter valued at about $38,000. Hedge funds and other institutional investors own 81.79% of the company's stock.

Insider Transactions at Adobe

In other news, CFO Daniel Durn purchased 1,300 shares of the company's stock in a transaction that occurred on Thursday, March 20th. The shares were bought at an average cost of $390.58 per share, for a total transaction of $507,754.00. Following the completion of the transaction, the chief financial officer now directly owns 29,876 shares of the company's stock, valued at $11,668,968.08. This trade represents a 4.55 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Scott Belsky sold 922 shares of the stock in a transaction on Friday, January 24th. The stock was sold at an average price of $437.28, for a total value of $403,172.16. Following the completion of the transaction, the executive vice president now owns 22,153 shares of the company's stock, valued at approximately $9,687,063.84. This trade represents a 4.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,075 shares of company stock valued at $2,191,826. Company insiders own 0.16% of the company's stock.

Analyst Ratings Changes

A number of analysts recently weighed in on ADBE shares. Citigroup decreased their target price on shares of Adobe from $551.00 to $490.00 and set a "neutral" rating on the stock in a report on Monday, March 10th. UBS Group reduced their target price on Adobe from $410.00 to $380.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Robert W. Baird lowered their price target on Adobe from $490.00 to $410.00 and set a "neutral" rating on the stock in a report on Wednesday, March 19th. Morgan Stanley dropped their price target on Adobe from $600.00 to $510.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Finally, Redburn Atlantic initiated coverage on shares of Adobe in a research report on Wednesday, February 19th. They issued a "neutral" rating on the stock. Eleven investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $513.27.

Adobe Trading Down 2.1 %

NASDAQ ADBE traded down $7.33 on Monday, hitting $341.47. The company's stock had a trading volume of 1,081,763 shares, compared to its average volume of 3,986,050. The firm has a market cap of $145.53 billion, a P/E ratio of 27.54, a PEG ratio of 2.15 and a beta of 1.49. Adobe Inc. has a 52-week low of $332.01 and a 52-week high of $587.75. The company's 50-day simple moving average is $403.54 and its 200 day simple moving average is $449.67. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29.

Adobe (NASDAQ:ADBE - Get Free Report) last announced 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. The company had revenue of $5.71 billion during the quarter, compared to analyst estimates of $5.66 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. During the same quarter last year, the firm posted $4.48 earnings per share. Research analysts predict that Adobe Inc. will post 16.65 EPS for the current fiscal year.

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.