3,711 Shares in Adobe Inc. (NASDAQ:ADBE) Purchased by Warm Springs Advisors Inc.

Warm Springs Advisors Inc. bought a new position in Adobe Inc. (NASDAQ:ADBE - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 3,711 shares of the software company's stock, valued at approximately $1,650,000. Adobe comprises 1.5% of Warm Springs Advisors Inc.'s holdings, making the stock its 21st biggest position.

Several other hedge funds have also recently made changes to their positions in ADBE. Fort Washington Investment Advisors Inc. OH grew its stake in Adobe by 0.9% during 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 in the last quarter. Advisory Alpha LLC raised its position in shares of Adobe by 28.1% in the fourth quarter. Advisory Alpha LLC now owns 725 shares of the software company's stock worth $322,000 after buying an additional 159 shares in the last quarter. Avior Wealth Management LLC lifted its position in Adobe by 65.9% during the fourth quarter. Avior Wealth Management LLC now owns 1,309 shares of the software company's stock valued at $582,000 after purchasing an additional 520 shares during the last quarter. Red Door Wealth Management LLC lifted its holdings 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 acquiring an additional 447 shares during the last quarter. Finally, Secure Asset Management LLC grew its position in Adobe by 7.1% in the fourth quarter. Secure Asset Management LLC now owns 1,175 shares of the software company's stock worth $522,000 after acquiring an additional 78 shares in the last quarter. 81.79% of the stock is currently owned by institutional investors.

Adobe Trading Down 0.0%

ADBE stock traded down $0.02 during trading 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 debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. Adobe Inc. has a 52 week low of $332.01 and a 52 week high of $587.75. The business has a 50 day moving average of $378.50 and a 200 day moving average of $430.10. The company has a market cap of $175.69 billion, a P/E ratio of 33.22, a PEG ratio of 2.15 and a beta of 1.55.

Adobe (NASDAQ:ADBE - Get Free Report) last announced its earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $5.71 billion during the quarter, compared to analyst estimates of $5.66 billion. During the same quarter in the prior year, the company earned $4.48 EPS. As a group, sell-side analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ADBE. Stifel Nicolaus lowered their price target on Adobe from $600.00 to $525.00 and set a "buy" rating on the stock in a research report on Thursday, March 13th. Citigroup decreased their price objective on Adobe from $551.00 to $490.00 and set a "neutral" rating on the stock in a report on Monday, March 10th. Morgan Stanley cut their target price on Adobe from $600.00 to $510.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. BMO Capital Markets decreased their price target on shares of Adobe from $495.00 to $450.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 16th. Finally, Wells Fargo & Company lowered their price objective on shares of Adobe from $600.00 to $430.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Eleven analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $502.88.

Insider Activity

In other Adobe news, CFO Daniel Durn bought 1,300 shares of the firm's stock in a transaction 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 completion of the purchase, 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 document filed with the SEC, which can be accessed through this hyperlink. Company 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.