Benjamin Edwards Inc. increased its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 11.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,137 shares of the software company's stock after buying an additional 1,002 shares during the quarter. Benjamin Edwards Inc.'s holdings in Adobe were worth $4,508,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Decker Retirement Planning Inc. acquired a new position in Adobe during the fourth quarter worth about $31,000. Summit Securities Group LLC acquired a new position in shares of Adobe in the 4th quarter worth approximately $31,000. Caitlin John LLC raised its holdings in shares of Adobe by 171.4% in 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. Avion Wealth boosted its holdings in Adobe by 112.2% during the fourth quarter. Avion Wealth now owns 87 shares of the software company's stock worth $38,000 after buying an additional 46 shares in the last quarter. Finally, Mascoma Wealth Management LLC grew its position in 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 buying an additional 50 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In related news, CFO Daniel Durn acquired 1,300 shares of the company's stock in a transaction that occurred on Thursday, March 20th. The stock was purchased at an average price of $390.58 per share, for a total transaction of $507,754.00. Following the transaction, the chief financial officer now directly owns 29,876 shares of the company's stock, valued at approximately $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 is available at this hyperlink. Insiders own 0.16% of the company's stock.
Analyst Upgrades and Downgrades
Several equities research analysts have recently weighed in on ADBE shares. StockNews.com lowered Adobe from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, March 4th. Citigroup decreased their price target on Adobe from $551.00 to $490.00 and set a "neutral" rating for the company in a research report on Monday, March 10th. BMO Capital Markets reduced their price objective on shares of Adobe from $495.00 to $450.00 and set an "outperform" rating for the company in a research note on Wednesday, April 16th. BNP Paribas raised shares of Adobe from an "underperform" rating to a "neutral" rating and set a $425.00 target price on the stock in a research report on Wednesday, January 15th. Finally, UBS Group reduced their price target on shares of Adobe from $410.00 to $380.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Eleven equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Adobe presently has a consensus rating of "Moderate Buy" and a consensus target price of $502.88.
Check Out Our Latest Analysis on Adobe
Adobe Stock Performance
Adobe stock traded down $0.71 during trading hours on Friday, hitting $383.28. The stock had a trading volume of 2,030,646 shares, compared to its average volume of 3,438,024. The company has a 50-day moving average of $380.93 and a two-hundred day moving average of $437.84. 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 Inc. has a fifty-two week low of $332.01 and a fifty-two week high of $587.75. The company has a market cap of $163.35 billion, a PE ratio of 30.91, a price-to-earnings-growth ratio of 2.15 and a beta of 1.55.
Adobe (NASDAQ:ADBE - Get Free Report) last posted 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. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The firm had revenue of $5.71 billion for the quarter, compared to the consensus estimate of $5.66 billion. During the same quarter in the previous year, the company earned $4.48 earnings per share. On average, equities research analysts anticipate that Adobe Inc. will post 16.65 EPS for the current fiscal year.
About Adobe
(
Free Report)
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.
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