Simplicity Wealth LLC Purchases 1,502 Shares of Adobe Inc. (NASDAQ:ADBE)

Simplicity Wealth LLC lifted its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 135.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,611 shares of the software company's stock after purchasing an additional 1,502 shares during the period. Simplicity Wealth LLC's holdings in Adobe were worth $1,001,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Siemens Fonds Invest GmbH boosted its position in shares of Adobe by 252.9% in the fourth quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company's stock worth $25,000 after buying an additional 39,888 shares during the period. SWAN Capital LLC bought a new stake in Adobe in the 4th quarter valued at $28,000. Copia Wealth Management acquired a new stake in Adobe in the 4th quarter worth $28,000. Summit Securities Group LLC acquired a new stake in Adobe in the 4th quarter worth $31,000. Finally, Bernard Wealth Management Corp. bought a new position in shares of Adobe during the 4th quarter worth about $36,000. 81.79% of the stock is owned by institutional investors.

Adobe Trading Up 0.2%

Shares of ADBE stock traded up $0.84 during trading hours on Thursday, reaching $413.68. The company had a trading volume of 6,169,376 shares, compared to its average volume of 3,418,958. Adobe Inc. has a 1-year low of $332.01 and a 1-year 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 firm has a market cap of $176.31 billion, a price-to-earnings ratio of 33.36, a P/E/G ratio of 2.15 and a beta of 1.55. The company has a 50 day moving average of $384.27 and a 200 day moving average of $423.37.

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 return on equity of 45.87% and a net margin of 25.85%. During the same quarter last year, the business earned $4.48 earnings per share. On average, equities research analysts anticipate that Adobe Inc. will post 16.65 EPS for the current year.

Insider Activity at Adobe

In other Adobe news, CFO Daniel Durn purchased 1,300 shares of the stock in a transaction on Thursday, March 20th. The stock was bought at an average cost of $390.58 per share, for a total transaction of $507,754.00. Following the completion of the acquisition, the chief financial officer now directly owns 29,876 shares of the company's stock, valued at $11,668,968.08. The trade was a 4.55% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.16% of the stock is owned by corporate insiders.

Analyst Ratings Changes

ADBE has been the topic of a number of recent research reports. Bank of America decreased their target price on Adobe from $605.00 to $528.00 and set a "buy" rating on the stock in a research report on Thursday, March 13th. DA Davidson cut their target price on Adobe from $600.00 to $450.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Citigroup lifted their price target on shares of Adobe from $430.00 to $465.00 and gave the stock a "neutral" rating in a research note on Tuesday. KeyCorp upgraded shares of Adobe from an "underweight" rating to a "sector weight" rating in a research note on Friday, March 21st. Finally, Oppenheimer decreased their target price on shares of Adobe from $560.00 to $530.00 and set an "outperform" rating on the stock in a research report on Thursday, March 13th. Nine 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 MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $503.33.

Adobe 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.