Brucke Financial Inc. Purchases New Holdings in Adobe Inc. (NASDAQ:ADBE)

Brucke Financial Inc. purchased a new position in Adobe Inc. (NASDAQ:ADBE - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,006 shares of the software company's stock, valued at approximately $440,000.

Several other institutional investors also recently modified their holdings of the stock. Arizona State Retirement System raised its position in shares of Adobe by 0.4% during the fourth quarter. Arizona State Retirement System now owns 127,696 shares of the software company's stock worth $56,784,000 after purchasing an additional 570 shares during the period. Burling Wealth Partners LLC acquired a new stake in Adobe during the 4th quarter worth about $1,173,000. Silicon Valley Capital Partners lifted its stake in Adobe by 4.1% during the fourth quarter. Silicon Valley Capital Partners now owns 5,972 shares of the software company's stock valued at $2,656,000 after buying an additional 236 shares in the last quarter. Foundations Investment Advisors LLC boosted its holdings in shares of Adobe by 30.9% in the fourth quarter. Foundations Investment Advisors LLC now owns 36,009 shares of the software company's stock worth $16,012,000 after buying an additional 8,508 shares during the period. Finally, Horan Capital Advisors LLC. increased its position in shares of Adobe by 2.4% in the fourth quarter. Horan Capital Advisors LLC. now owns 4,861 shares of the software company's stock worth $2,162,000 after acquiring an additional 114 shares in the last quarter. Institutional investors own 81.79% of the company's stock.

Adobe Stock Performance

ADBE traded up $1.40 on Friday, hitting $414.76. The company had a trading volume of 4,229,411 shares, compared to its average volume of 3,659,711. The stock has a market cap 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 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's fifty day moving average price is $378.87 and its 200 day moving average price is $429.47. 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 issued its quarterly earnings data 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 net margin of 25.85% and a return on equity of 45.87%. The business had revenue of $5.71 billion during the quarter, compared to analysts' expectations of $5.66 billion. During the same period in the previous year, the company earned $4.48 earnings per share. Equities analysts predict that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Daniel Durn acquired 1,300 shares of the stock in a transaction dated Thursday, March 20th. The shares were acquired 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 owns 29,876 shares in the company, valued at approximately $11,668,968.08. The trade was a 4.55% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.16% of the stock is owned by insiders.

Analyst Ratings Changes

ADBE has been the subject of several research analyst reports. DA Davidson reduced their price target on shares of Adobe from $600.00 to $450.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Redburn Atlantic assumed coverage on Adobe in a report on Wednesday, February 19th. They issued a "neutral" rating for the company. Evercore ISI lowered their price target on Adobe from $650.00 to $550.00 and set an "outperform" rating on the stock in a report on Thursday, March 13th. Royal Bank of Canada dropped their price target on Adobe from $530.00 to $480.00 and set an "outperform" rating on the stock in a research report on Monday, April 14th. Finally, Citigroup decreased their price objective on Adobe from $551.00 to $490.00 and set a "neutral" rating for the company in a research report on Monday, March 10th. Eleven investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $502.88.

Adobe Company 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.