Brooks Moore & Associates Inc. Takes $472,000 Position in Adobe Inc. (NASDAQ:ADBE)

Brooks Moore & Associates Inc. purchased a new stake in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,061 shares of the software company's stock, valued at approximately $472,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Decker Retirement Planning Inc. bought a new stake in shares of Adobe in the 4th quarter valued at about $31,000. Summit Securities Group LLC purchased a new position in Adobe during the fourth quarter valued at approximately $31,000. Caitlin John LLC raised its stake in 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 buying an additional 48 shares in the last quarter. Avion Wealth lifted 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 during the period. Finally, Mascoma Wealth Management LLC boosted its position 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 acquiring an additional 50 shares in the last quarter. 81.79% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Daniel Durn bought 1,300 shares of the firm's stock in a transaction that occurred on Thursday, March 20th. The stock was purchased at an average cost of $390.58 per share, for a total transaction of $507,754.00. Following the purchase, the chief financial officer now directly owns 29,876 shares in the company, valued at approximately $11,668,968.08. This trade represents a 4.55 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.16% of the company's stock.

Adobe Stock Performance

NASDAQ ADBE traded down $0.71 on Friday, reaching $383.28. 2,030,646 shares of the company's stock traded hands, compared to its average volume of 3,438,025. Adobe Inc. has a fifty-two week low of $332.01 and a fifty-two week high of $587.75. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07. The firm has a market cap of $163.35 billion, a price-to-earnings ratio of 30.91, a P/E/G ratio of 2.15 and a beta of 1.55. The stock has a 50 day moving average price of $379.67 and a 200-day moving average price of $437.08.

Adobe (NASDAQ:ADBE - Get Free Report) last issued its quarterly earnings data on Wednesday, March 12th. The software company reported $5.08 earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarter in the previous year, the firm posted $4.48 EPS. Equities research analysts predict that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on ADBE. Oppenheimer reduced their price target on Adobe from $560.00 to $530.00 and set an "outperform" rating for the company in a research report on Thursday, March 13th. KeyCorp raised shares of Adobe from an "underweight" rating to a "sector weight" rating in a research report on Friday, March 21st. Morgan Stanley lowered their price target on shares of Adobe from $600.00 to $510.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Piper Sandler reduced their price objective on shares of Adobe from $600.00 to $500.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Finally, Royal Bank of Canada lowered 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. Eleven equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Adobe presently has an average rating of "Moderate Buy" and a consensus price target of $502.88.

Adobe 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.