Texas Bank & Trust Co purchased a new position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 2,334 shares of the software company's stock, valued at approximately $1,038,000.
Other large investors also recently made changes to their positions in the company. Siemens Fonds Invest GmbH boosted its stake in shares of Adobe by 252.9% during the 4th 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 in the last quarter. Decker Retirement Planning Inc. bought a new stake in shares of Adobe during the 4th quarter worth about $31,000. Summit Securities Group LLC bought a new stake in shares of Adobe during the 4th quarter worth about $31,000. 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 acquiring an additional 48 shares in the last quarter. Finally, Avion Wealth boosted its stake in shares of Adobe by 112.2% during the 4th quarter. Avion Wealth now owns 87 shares of the software company's stock worth $38,000 after acquiring an additional 46 shares in the last quarter. Institutional investors own 81.79% of the company's stock.
Analysts Set New Price Targets
ADBE has been the subject of several research analyst reports. BMO Capital Markets cut their price objective on Adobe from $495.00 to $450.00 and set an "outperform" rating for the company in a research report on Wednesday, April 16th. Redburn Atlantic initiated coverage on Adobe in a research report on Wednesday, February 19th. They set a "neutral" rating for the company. Royal Bank of Canada cut their price objective on Adobe from $530.00 to $480.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. JPMorgan Chase & Co. cut their price objective on Adobe from $580.00 to $540.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. Finally, Piper Sandler cut their price objective on Adobe from $600.00 to $500.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Eleven equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $502.88.
View Our Latest Analysis on ADBE
Insider Activity
In other Adobe news, CFO Daniel Durn purchased 1,300 shares of the firm's stock in a transaction that occurred on Thursday, March 20th. The shares were acquired at an average cost of $390.58 per share, for a total transaction of $507,754.00. Following the transaction, the chief financial officer now directly owns 29,876 shares in the company, valued at approximately $11,668,968.08. The trade was a 4.55% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.16% of the company's stock.
Adobe Trading Up 3.1%
ADBE stock opened at $417.13 on Friday. Adobe Inc. has a 1-year low of $332.01 and a 1-year high of $587.75. The firm has a market cap of $177.78 billion, a P/E ratio of 33.64, a P/E/G ratio of 2.15 and a beta of 1.55. The business's 50 day moving average is $375.68 and its 200-day moving average is $433.93. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29.
Adobe (NASDAQ:ADBE - Get Free Report) last released its quarterly earnings data on Wednesday, March 12th. The software company reported $5.08 earnings per share for the quarter, beating the consensus estimate of $4.97 by $0.11. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The company had revenue of $5.71 billion for the quarter, compared to analyst estimates of $5.66 billion. During the same period in the prior year, the company posted $4.48 EPS. Equities analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.
About Adobe
(
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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