Audent Global Asset Management LLC Has $2.41 Million Stock Position in Adobe Inc. (NASDAQ:ADBE)

Audent Global Asset Management LLC grew its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 528.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,408 shares of the software company's stock after purchasing an additional 4,547 shares during the quarter. Adobe comprises 1.6% of Audent Global Asset Management LLC's portfolio, making the stock its 22nd biggest holding. Audent Global Asset Management LLC's holdings in Adobe were worth $2,405,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in ADBE. SWAN Capital LLC acquired a new stake in Adobe during the fourth quarter worth about $28,000. Summit Securities Group LLC acquired a new stake in Adobe during the fourth quarter worth about $31,000. Caitlin John LLC grew its position in Adobe by 171.4% during 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. Bernard Wealth Management Corp. acquired a new stake in Adobe during the fourth quarter worth about $36,000. Finally, Mascoma Wealth Management LLC grew its position in Adobe by 142.9% during the fourth 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 owned by institutional investors and hedge funds.

Adobe Price Performance

Shares of Adobe stock traded up $1.40 during midday trading on Friday, reaching $414.76. The company had a trading volume of 4,229,413 shares, compared to its average volume of 3,438,456. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $176.77 billion, a price-to-earnings ratio of 33.45, a price-to-earnings-growth ratio of 2.15 and a beta of 1.55. The stock has a fifty day simple moving average of $379.10 and a 200 day simple moving average of $428.70. Adobe Inc. has a 1-year low of $332.01 and a 1-year high of $587.75.

Adobe (NASDAQ:ADBE - Get Free Report) last released its earnings results on Wednesday, March 12th. The software company reported $5.08 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 during the quarter, compared to analyst estimates of $5.66 billion. During the same quarter in the previous year, the business earned $4.48 EPS. As a group, equities research analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current year.

Insiders Place Their Bets

In other Adobe news, CFO Daniel Durn bought 1,300 shares of the stock in a transaction on Thursday, March 20th. The stock was purchased at an average price of $390.58 per share, with a total value of $507,754.00. Following the acquisition, the chief financial officer now owns 29,876 shares of the company's stock, valued at approximately $11,668,968.08. The trade was 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 at this hyperlink. Company insiders own 0.16% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on ADBE shares. Redburn Atlantic began coverage on Adobe in a research report on Wednesday, February 19th. They set a "neutral" rating on the stock. Wall Street Zen upgraded shares of Adobe from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd. Wells Fargo & Company cut their price target on shares of Adobe from $600.00 to $430.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Morgan Stanley cut their price target 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, Oppenheimer cut their price target on shares of Adobe from $560.00 to $530.00 and set an "outperform" rating for the company in a research note on Thursday, March 13th. Eleven equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Adobe currently 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.