Vise Technologies Inc. boosted its position in Adobe Inc. (NASDAQ:ADBE - Free Report) by 12.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,566 shares of the software company's stock after purchasing an additional 1,026 shares during the period. Vise Technologies Inc.'s holdings in Adobe were worth $4,254,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Summit Securities Group LLC purchased a new position in Adobe during the fourth quarter worth $31,000. Caitlin John LLC grew its position in shares of Adobe by 171.4% in the fourth quarter. Caitlin John LLC now owns 76 shares of the software company's stock valued at $34,000 after purchasing an additional 48 shares during the period. Mascoma Wealth Management LLC grew its position in shares of Adobe by 142.9% in the fourth quarter. Mascoma Wealth Management LLC now owns 85 shares of the software company's stock valued at $38,000 after purchasing an additional 50 shares during the period. LFA Lugano Financial Advisors SA purchased a new stake in shares of Adobe in the fourth quarter valued at $38,000. Finally, Avion Wealth grew its position in shares of Adobe by 112.2% in the fourth 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. Hedge funds and other institutional investors own 81.79% of the company's stock.
Adobe Stock Performance
Shares of NASDAQ:ADBE traded down $0.37 during trading on Wednesday, hitting $412.73. 698,196 shares of the company traded hands, compared to its average volume of 3,688,905. The stock has a market capitalization of $175.91 billion, a price-to-earnings ratio of 33.29, a PEG ratio of 2.15 and a beta of 1.55. The business's fifty day moving average is $378.00 and its 200-day moving average is $430.23. Adobe Inc. has a one year low of $332.01 and a one year high of $587.75. 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 (NASDAQ:ADBE - Get Free Report) last released its 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 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 the consensus estimate of $5.66 billion. During the same period in the prior year, the firm posted $4.48 earnings per share. As a group, equities analysts predict that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
ADBE has been the subject of a number of recent analyst reports. Royal Bank of Canada lowered their price objective on Adobe from $530.00 to $480.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. Summit Redstone set a $410.00 target price on Adobe in a report on Wednesday, March 19th. Oppenheimer reduced their target price on Adobe from $560.00 to $530.00 and set an "outperform" rating on the stock in a report on Thursday, March 13th. DA Davidson reduced their target price on Adobe from $600.00 to $450.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Finally, UBS Group reduced their target price on Adobe from $410.00 to $380.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Eleven analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $502.88.
Check Out Our Latest Stock Report on ADBE
Insiders Place Their Bets
In other Adobe news, CFO Daniel Durn purchased 1,300 shares of the business's stock in a transaction 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 completion of 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 ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.16% of the company's stock.
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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