FORA Capital LLC Purchases Shares of 2,070 Adobe Inc. (NASDAQ:ADBE)

FORA Capital LLC bought a new stake in Adobe Inc. (NASDAQ:ADBE - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 2,070 shares of the software company's stock, valued at approximately $920,000.

A number of other institutional investors have also recently made changes to their positions in ADBE. Decker Retirement Planning Inc. purchased a new position in Adobe in the 4th quarter valued at $31,000. Summit Securities Group LLC acquired a new stake in shares of Adobe in the fourth quarter valued at about $31,000. Caitlin John LLC lifted its stake in shares of Adobe by 171.4% in the fourth quarter. Caitlin John LLC now owns 76 shares of the software company's stock worth $34,000 after buying an additional 48 shares in the last quarter. Avion Wealth boosted its position in Adobe by 112.2% during the fourth quarter. Avion Wealth now owns 87 shares of the software company's stock worth $38,000 after acquiring an additional 46 shares during the last quarter. Finally, Mascoma Wealth Management LLC boosted its position in Adobe by 142.9% during the fourth quarter. Mascoma Wealth Management LLC now owns 85 shares of the software company's stock worth $38,000 after acquiring an additional 50 shares during the last quarter. 81.79% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Daniel Durn bought 1,300 shares of Adobe stock in a transaction that occurred on Thursday, March 20th. The shares were purchased at an average price of $390.58 per share, with a total value of $507,754.00. Following the completion of the acquisition, the chief financial officer now directly owns 29,876 shares in the company, valued at $11,668,968.08. The trade was a 4.55% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.16% of the company's stock.

Adobe Trading Up 0.4%

Adobe stock traded up $1.46 during midday trading on Tuesday, reaching $397.40. 2,663,069 shares of the stock traded hands, compared to its average volume of 3,440,514. The firm has a market cap of $169.37 billion, a PE ratio of 32.05, a price-to-earnings-growth ratio of 2.15 and a beta of 1.55. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29. The company has a 50-day simple moving average of $378.57 and a two-hundred day simple moving average of $435.81. Adobe Inc. has a 12-month low of $332.01 and a 12-month high of $587.75.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its quarterly earnings data on Wednesday, March 12th. The software company reported $5.08 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $5.66 billion. During the same quarter last year, the firm posted $4.48 earnings per share. Research analysts expect that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have commented on ADBE shares. JPMorgan Chase & Co. cut their price objective on shares of Adobe from $580.00 to $540.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. Royal Bank of Canada cut their price target on Adobe from $530.00 to $480.00 and set an "outperform" rating for the company in a report on Monday, April 14th. Mizuho lowered their price objective on Adobe from $620.00 to $575.00 and set an "outperform" rating on the stock in a research note on Thursday, March 13th. Robert W. Baird cut their target price 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, Redburn Atlantic initiated coverage on Adobe in a report on Wednesday, February 19th. They set a "neutral" rating on the stock. Eleven research 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $502.88.

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.