Heck Capital Advisors LLC Invests $502,000 in Adobe Inc. (NASDAQ:ADBE)

Heck Capital Advisors LLC purchased a new position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 1,128 shares of the software company's stock, valued at approximately $502,000.

Several other institutional investors and hedge funds have also modified their holdings of ADBE. Avior Wealth Management LLC boosted its stake in shares of Adobe by 65.9% during the 4th quarter. Avior Wealth Management LLC now owns 1,309 shares of the software company's stock worth $582,000 after acquiring an additional 520 shares during the last quarter. Brighton Jones LLC lifted its stake in shares of Adobe by 2.1% during the 4th quarter. Brighton Jones LLC now owns 8,068 shares of the software company's stock valued at $3,588,000 after buying an additional 167 shares in the last quarter. Cornerstone Wealth Management LLC lifted its stake in shares of Adobe by 1.8% during the 4th quarter. Cornerstone Wealth Management LLC now owns 1,327 shares of the software company's stock valued at $590,000 after buying an additional 24 shares in the last quarter. Stewardship Advisors LLC lifted its stake in shares of Adobe by 10.6% during the 4th quarter. Stewardship Advisors LLC now owns 541 shares of the software company's stock valued at $241,000 after buying an additional 52 shares in the last quarter. Finally, Insight Inv LLC purchased a new position in shares of Adobe during the 4th quarter valued at $235,000. Hedge funds and other institutional investors own 81.79% of the company's stock.

Insiders Place Their Bets

In other Adobe news, CFO Daniel Durn purchased 1,300 shares of the stock in a transaction dated 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 transaction, the chief financial officer now owns 29,876 shares of the company's stock, valued at approximately $11,668,968.08. This trade represents a 4.55% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.16% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on ADBE shares. Summit Redstone set a $410.00 target price on shares of Adobe in a research note on Wednesday, March 19th. KeyCorp upgraded shares of Adobe from an "underweight" rating to a "sector weight" rating in a research note on Friday, March 21st. Morgan Stanley lowered their target price on shares of Adobe from $600.00 to $510.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Oppenheimer lowered their target price on shares of Adobe from $560.00 to $530.00 and set an "outperform" rating on the stock in a research note on Thursday, March 13th. Finally, Citigroup dropped their price objective on shares of Adobe from $551.00 to $490.00 and set a "neutral" rating for the company in a report on Monday, March 10th. Eleven analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Adobe presently has a consensus rating of "Moderate Buy" and a consensus target price of $502.88.

Adobe Trading Up 0.3%

NASDAQ:ADBE traded up $1.40 during mid-day trading on Friday, hitting $414.76. 4,229,413 shares of the stock traded hands, compared to its average volume of 3,422,194. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $176.77 billion, a price-to-earnings ratio of 33.45, a PEG ratio of 2.15 and a beta of 1.55. The firm's 50 day moving average is $379.10 and its two-hundred day moving average is $427.98. Adobe Inc. has a 52 week low of $332.01 and a 52 week high of $587.75.

Adobe (NASDAQ:ADBE - Get Free Report) last issued 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. The business had revenue of $5.71 billion for the quarter, compared to the consensus estimate of $5.66 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. During the same period in the prior year, the firm earned $4.48 EPS. On average, equities research analysts predict that Adobe Inc. will post 16.65 earnings per share for the current year.

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.