Fire Capital Management LLC acquired a new position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 3,038 shares of the software company's stock, valued at approximately $1,351,000. Adobe accounts for approximately 1.0% of Fire Capital Management LLC's portfolio, making the stock its 28th largest position.
Several other large investors have also recently bought and sold shares of the business. Siemens Fonds Invest GmbH raised its position in Adobe by 252.9% during the fourth quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company's stock worth $25,000 after acquiring an additional 39,888 shares during the last quarter. SWAN Capital LLC purchased a new stake in Adobe during the 4th quarter worth about $28,000. Copia Wealth Management acquired a new position in Adobe in the 4th quarter valued at about $28,000. Summit Securities Group LLC purchased a new position in Adobe in the 4th quarter valued at about $31,000. Finally, Caitlin John LLC boosted its stake in shares of Adobe by 171.4% during the 4th quarter. Caitlin John LLC now owns 76 shares of the software company's stock worth $34,000 after purchasing an additional 48 shares during the last quarter. Hedge funds and other institutional investors own 81.79% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms have recently commented on ADBE. Oppenheimer dropped their price objective on Adobe from $560.00 to $530.00 and set an "outperform" rating for the company in a report on Thursday, March 13th. Summit Redstone set a $410.00 target price on shares of Adobe in a research note on Wednesday, March 19th. Royal Bank of Canada reduced their target price on shares of Adobe from $530.00 to $480.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. JPMorgan Chase & Co. lowered their price target on Adobe from $580.00 to $540.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. Finally, KeyCorp raised Adobe from an "underweight" rating to a "sector weight" rating in a research report on Friday, March 21st. Eleven equities research 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. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $502.88.
Get Our Latest Analysis on ADBE
Insider Transactions at Adobe
In other news, CFO Daniel Durn acquired 1,300 shares of the company's stock in a transaction dated Thursday, March 20th. The shares were bought at an average price of $390.58 per share, with a total value of $507,754.00. Following the purchase, the chief financial officer now owns 29,876 shares of the company's stock, valued at approximately $11,668,968.08. This 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 link. Company insiders own 0.16% of the company's stock.
Adobe Stock Performance
Shares of Adobe stock traded down $15.09 during trading hours on Monday, reaching $400.01. The company's stock had a trading volume of 2,041,355 shares, compared to its average volume of 3,417,036. Adobe Inc. has a one year low of $332.01 and a one year high of $587.75. The company's 50 day simple moving average is $379.10 and its 200 day simple moving average is $427.27. 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 stock has a market cap of $170.48 billion, a P/E ratio of 32.19, a price-to-earnings-growth 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. The firm had revenue of $5.71 billion for the quarter, compared to analysts' expectations of $5.66 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. During the same quarter last year, the company posted $4.48 earnings per share. As a group, analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.
Adobe 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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