Adobe Inc. (NASDAQ:ADBE) Shares Acquired by Wesleyan Assurance Society

Wesleyan Assurance Society boosted its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 1.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 52,082 shares of the software company's stock after purchasing an additional 700 shares during the quarter. Adobe makes up 1.8% of Wesleyan Assurance Society's portfolio, making the stock its 12th biggest holding. Wesleyan Assurance Society's holdings in Adobe were worth $23,159,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Summit Securities Group LLC acquired a new position in shares of Adobe during the 4th quarter valued at about $31,000. Caitlin John LLC grew its holdings in 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 holdings in 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 position in Adobe during the fourth quarter worth approximately $38,000. Finally, Avion Wealth raised its stake 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 purchasing an additional 46 shares during the period. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Adobe Trading Up 0.9%

Adobe stock opened at $420.68 on Tuesday. Adobe Inc. has a 1 year low of $332.01 and a 1 year high of $587.75. The firm's 50-day moving average is $375.32 and its 200-day moving average is $433.19. 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 company has a market cap of $179.29 billion, a P/E ratio of 33.93, a PEG ratio of 2.15 and a beta of 1.55.

Adobe (NASDAQ:ADBE - Get Free Report) last issued its earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share (EPS) 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 analysts' expectations 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 earnings per share for the current year.

Analysts Set New Price Targets

ADBE has been the subject of a number of research reports. KeyCorp raised Adobe from an "underweight" rating to a "sector weight" rating in a research report on Friday, March 21st. Bank of America reduced their price target on shares of Adobe from $605.00 to $528.00 and set a "buy" rating on the stock in a research report on Thursday, March 13th. UBS Group dropped 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. Mizuho reduced their target price on shares of Adobe from $620.00 to $575.00 and set an "outperform" rating on the stock in a report on Thursday, March 13th. Finally, Morgan Stanley decreased their price target on shares of Adobe from $600.00 to $510.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Eleven investment 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's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $502.88.

Insider Transactions at Adobe

In related news, CFO Daniel Durn acquired 1,300 shares of Adobe stock in a transaction that occurred on Thursday, March 20th. The stock was acquired 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 $11,668,968.08. This trade represents a 4.55% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.16% of the company's stock.

About Adobe

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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