3,640 Shares in Adobe Inc. (NASDAQ:ADBE) Purchased by Blue Sky Capital Consultants Group Inc.

Blue Sky Capital Consultants Group Inc. acquired a new position in Adobe Inc. (NASDAQ:ADBE - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 3,640 shares of the software company's stock, valued at approximately $1,619,000. Adobe makes up approximately 1.0% of Blue Sky Capital Consultants Group Inc.'s holdings, making the stock its 27th biggest holding.

Several other large investors have also recently added to or reduced their stakes in ADBE. Siemens Fonds Invest GmbH boosted its holdings in shares of Adobe by 252.9% in the fourth quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company's stock valued at $25,000 after acquiring an additional 39,888 shares in the last quarter. Summit Securities Group LLC acquired a new stake in Adobe in the fourth quarter worth approximately $31,000. Caitlin John LLC boosted its stake in Adobe by 171.4% during the 4th quarter. Caitlin John LLC now owns 76 shares of the software company's stock valued at $34,000 after purchasing an additional 48 shares in the last quarter. Avion Wealth increased its position in shares of Adobe by 112.2% during the 4th quarter. Avion Wealth now owns 87 shares of the software company's stock valued at $38,000 after purchasing an additional 46 shares during the period. Finally, Mascoma Wealth Management LLC raised its stake in shares of Adobe by 142.9% in the 4th quarter. Mascoma Wealth Management LLC now owns 85 shares of the software company's stock worth $38,000 after buying an additional 50 shares in the last quarter. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Stifel Nicolaus decreased their target price on Adobe from $600.00 to $525.00 and set a "buy" rating for the company in a research note on Thursday, March 13th. UBS Group reduced their price objective 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. Summit Redstone set a $410.00 price objective on shares of Adobe in a research note on Wednesday, March 19th. Morgan Stanley cut their target price 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, Citigroup reduced their target price on shares of Adobe from $551.00 to $490.00 and set a "neutral" rating for the company in a report on Monday, March 10th. Eleven investment 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. According to MarketBeat.com, Adobe presently has a consensus rating of "Moderate Buy" and a consensus price target of $502.88.

Adobe Stock Down 0.0%

Shares of NASDAQ:ADBE traded down $0.02 on Thursday, reaching $412.21. The company had a trading volume of 797,877 shares, compared to its average volume of 3,435,241. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $175.69 billion, a P/E ratio of 33.22, a P/E/G ratio of 2.15 and a beta of 1.55. The stock has a 50-day moving average price of $378.50 and a 200 day moving average price of $430.10. Adobe Inc. has a twelve month low of $332.01 and a twelve month high of $587.75.

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, beating the consensus estimate of $4.97 by $0.11. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The company had revenue of $5.71 billion for the quarter, compared to the consensus estimate of $5.66 billion. During the same quarter last year, the company posted $4.48 earnings per share. On average, equities analysts expect that Adobe Inc. will post 16.65 EPS for the current year.

Insider Buying and Selling at Adobe

In other Adobe news, CFO Daniel Durn acquired 1,300 shares of the business's stock in a transaction that occurred on Thursday, March 20th. The stock was acquired at an average price of $390.58 per share, with a total value of $507,754.00. Following the transaction, the chief financial officer now 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 ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.16% of the company's stock.

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.