B. Riley Wealth Advisors Inc. trimmed its position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 15.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,778 shares of the software company's stock after selling 1,771 shares during the period. B. Riley Wealth Advisors Inc.'s holdings in Adobe were worth $4,348,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Summit Securities Group LLC acquired a new stake in Adobe during the fourth quarter worth about $31,000. Caitlin John LLC boosted its stake in shares of Adobe by 171.4% in 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. Mascoma Wealth Management LLC boosted 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 valued at $38,000 after purchasing an additional 50 shares in the last quarter. LFA Lugano Financial Advisors SA acquired a new stake in shares of Adobe in the 4th quarter valued at approximately $38,000. Finally, Avion Wealth boosted its stake in shares of Adobe by 112.2% in 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 in the last quarter. 81.79% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on ADBE. Oppenheimer dropped their price objective on shares of Adobe from $560.00 to $530.00 and set an "outperform" rating for the company in a report on Thursday, March 13th. Citigroup dropped their price target on shares of Adobe from $551.00 to $490.00 and set a "neutral" rating on the stock in a research report on Monday, March 10th. Stifel Nicolaus dropped their price target on shares of Adobe from $600.00 to $525.00 and set a "buy" rating on the stock in a research report on Thursday, March 13th. Royal Bank of Canada dropped their price target on shares of Adobe from $530.00 to $480.00 and set an "outperform" rating on the stock in a research report on Monday, April 14th. Finally, Mizuho dropped their price target on shares of Adobe from $620.00 to $575.00 and set an "outperform" rating on the stock in a research report on Thursday, March 13th. Eleven analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $502.88.
Read Our Latest Stock Report on ADBE
Insider Transactions at Adobe
In related news, CFO Daniel Durn purchased 1,300 shares of the business's stock in a transaction that occurred on Thursday, March 20th. The shares were bought at an average cost 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 $11,668,968.08. This represents a 4.55% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.16% of the company's stock.
Adobe Stock Down 0.2%
Shares of NASDAQ ADBE traded down $0.87 during trading on Wednesday, hitting $412.23. The stock had a trading volume of 2,238,353 shares, compared to its average volume of 3,445,640. Adobe Inc. has a 12 month low of $332.01 and a 12 month high of $587.75. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. The company has a market capitalization of $175.69 billion, a PE ratio of 33.24, a PEG ratio of 2.15 and a beta of 1.55. The firm has a fifty day moving average of $378.50 and a two-hundred day moving average of $430.10.
Adobe (NASDAQ:ADBE - Get Free Report) last posted 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 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 prior year, the business posted $4.48 EPS. As a group, equities research analysts forecast that Adobe Inc. will post 16.65 EPS for the current fiscal year.
Adobe Company Profile
(
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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