MassMutual Private Wealth & Trust FSB Buys 1,698 Shares of Adobe Inc. (NASDAQ:ADBE)

MassMutual Private Wealth & Trust FSB raised its stake in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 2.4% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 72,002 shares of the software company's stock after purchasing an additional 1,698 shares during the period. MassMutual Private Wealth & Trust FSB's holdings in Adobe were worth $27,615,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in ADBE. Siemens Fonds Invest GmbH grew its position in Adobe by 252.9% during the 4th quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company's stock valued at $25,000 after purchasing an additional 39,888 shares during the last quarter. SWAN Capital LLC purchased a new stake in shares of Adobe in the fourth quarter valued at $28,000. Copia Wealth Management purchased a new position in shares of Adobe during the fourth quarter worth approximately $28,000. Summit Securities Group LLC purchased a new position in Adobe during the fourth quarter valued at approximately $31,000. Finally, Caitlin John LLC boosted its stake in Adobe by 171.4% in the fourth quarter. Caitlin John LLC now owns 76 shares of the software company's stock valued at $34,000 after acquiring an additional 48 shares in the last quarter. Hedge funds and other institutional investors own 81.79% of the company's stock.

Insider Buying and Selling at Adobe

In other Adobe news, CFO Daniel Durn purchased 1,300 shares of the company's stock in a transaction on Thursday, March 20th. The shares were purchased at an average cost of $390.58 per share, with a total value of $507,754.00. Following the completion of the purchase, the chief financial officer now owns 29,876 shares in the company, valued at $11,668,968.08. This represents a 4.55% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.16% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on ADBE shares. Bank of America cut their price objective on shares of Adobe from $605.00 to $528.00 and set a "buy" rating for the company in a report on Thursday, March 13th. Piper Sandler decreased their price objective on shares of Adobe from $600.00 to $500.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Jefferies Financial Group decreased their price objective on Adobe from $650.00 to $590.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Robert W. Baird dropped their price objective on Adobe from $490.00 to $410.00 and set a "neutral" rating for the company in a research note on Wednesday, March 19th. Finally, Mizuho lowered their price objective on Adobe from $620.00 to $575.00 and set an "outperform" rating for the company in a research report on Thursday, March 13th. Eleven research 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $502.88.

Adobe Trading Up 0.3%

NASDAQ ADBE traded up $1.40 during trading hours on Friday, hitting $414.76. The company's stock had a trading volume of 4,229,413 shares, compared to its average volume of 3,438,453. Adobe Inc. has a twelve month low of $332.01 and a twelve month high of $587.75. The firm has a market capitalization of $176.77 billion, a P/E ratio of 33.45, a PEG ratio of 2.15 and a beta of 1.55. 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 fifty day moving average of $379.10 and a 200 day moving average of $428.70.

Adobe (NASDAQ:ADBE - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $5.71 billion for the quarter, compared to analyst estimates of $5.66 billion. During the same quarter in the previous year, the firm posted $4.48 earnings per share. Equities research analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current fiscal 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.