Investor s Fiduciary Advisor Network LLC Acquires New Stake in Adobe Inc. (NASDAQ:ADBE)

Investor s Fiduciary Advisor Network LLC bought a new position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 1,632 shares of the software company's stock, valued at approximately $725,000.

Other large investors have also recently added to or reduced their stakes in the company. Sepio Capital LP lifted its stake in Adobe by 2.3% in the 4th quarter. Sepio Capital LP now owns 993 shares of the software company's stock valued at $442,000 after acquiring an additional 22 shares in the last quarter. Cadence Bank lifted its position in shares of Adobe by 0.5% in the fourth quarter. Cadence Bank now owns 4,883 shares of the software company's stock worth $2,171,000 after purchasing an additional 22 shares in the last quarter. Eagle Strategies LLC boosted its holdings in Adobe by 1.5% during the fourth quarter. Eagle Strategies LLC now owns 1,465 shares of the software company's stock worth $651,000 after purchasing an additional 22 shares during the last quarter. Foster Group Inc. grew its position in Adobe by 4.6% in the fourth quarter. Foster Group Inc. now owns 526 shares of the software company's stock valued at $234,000 after purchasing an additional 23 shares in the last quarter. Finally, Atlantic Edge Private Wealth Management LLC increased its stake in Adobe by 0.4% in the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 5,406 shares of the software company's stock valued at $2,404,000 after buying an additional 23 shares during the last quarter. Institutional investors own 81.79% of the company's stock.

Insider Buying and Selling at Adobe

In related 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 bought at an average cost of $390.58 per share, with a total value of $507,754.00. Following the acquisition, the chief financial officer now owns 29,876 shares of the company's stock, valued at $11,668,968.08. This trade represents a 4.55 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.16% of the company's stock.

Adobe Trading Down 0.2 %

ADBE opened at $383.28 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29. Adobe Inc. has a twelve month low of $332.01 and a twelve month high of $587.75. The stock has a market capitalization of $163.35 billion, a price-to-earnings ratio of 30.91, a P/E/G ratio of 2.15 and a beta of 1.55. The company has a 50-day simple moving average of $379.67 and a 200 day simple moving average of $436.75.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its quarterly earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $5.66 billion. During the same quarter last year, the business posted $4.48 EPS. Analysts predict that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ADBE. 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 report on Monday, March 31st. BNP Paribas upgraded Adobe from an "underperform" rating to a "neutral" rating and set a $425.00 price target for the company in a research note on Wednesday, January 15th. Mizuho lowered their price target on Adobe from $620.00 to $575.00 and set an "outperform" rating on the stock in a research report on Thursday, March 13th. Royal Bank of Canada decreased their target price on shares of Adobe from $530.00 to $480.00 and set an "outperform" rating for the company in a research note on Monday, April 14th. Finally, Evercore ISI dropped their price target on shares of Adobe from $650.00 to $550.00 and set an "outperform" rating on the stock in a research report on Thursday, March 13th. 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 company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $502.88.

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.

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