SGL Investment Advisors Inc. Boosts Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

SGL Investment Advisors Inc. raised its stake in Adobe Inc. (NASDAQ:ADBE - Free Report) by 36.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,498 shares of the software company's stock after purchasing an additional 2,784 shares during the period. Adobe accounts for approximately 2.5% of SGL Investment Advisors Inc.'s investment portfolio, making the stock its 14th largest holding. SGL Investment Advisors Inc.'s holdings in Adobe were worth $4,858,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Decker Retirement Planning Inc. purchased a new position in Adobe in the fourth quarter valued at about $31,000. Summit Securities Group LLC acquired a new stake in Adobe in the fourth quarter worth about $31,000. Caitlin John LLC boosted its holdings in 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 acquiring an additional 48 shares in the last quarter. Avion Wealth boosted its holdings in Adobe by 112.2% in the fourth 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. Finally, Mascoma Wealth Management LLC boosted its holdings in Adobe by 142.9% in 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 in the last quarter. Hedge funds and other institutional investors own 81.79% of the company's stock.

Adobe Stock Up 1.3%

Shares of NASDAQ:ADBE opened at $404.69 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. The business has a fifty day moving average of $376.01 and a two-hundred day moving average of $434.77. The stock has a market cap of $172.48 billion, a P/E ratio of 32.64, a PEG ratio of 2.15 and a beta of 1.55. Adobe Inc. has a 52-week low of $332.01 and a 52-week high of $587.75.

Adobe (NASDAQ:ADBE - Get Free Report) last announced its quarterly earnings results 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 return on equity of 45.87% and a net margin of 25.85%. 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 prior year, the company posted $4.48 EPS. On average, research analysts expect that Adobe Inc. will post 16.65 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have weighed in on ADBE. Royal Bank of Canada lowered 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. Piper Sandler lowered their price target on Adobe from $600.00 to $500.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Oppenheimer decreased their target price on Adobe from $560.00 to $530.00 and set an "outperform" rating for the company in a report on Thursday, March 13th. DA Davidson decreased their target price on Adobe from $600.00 to $450.00 and set a "buy" rating for the company in a report on Monday, April 14th. Finally, Evercore ISI decreased their target price on Adobe from $650.00 to $550.00 and set an "outperform" rating for the company in a 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 company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $502.88.

Insider Buying and Selling

In related news, CFO Daniel Durn purchased 1,300 shares of Adobe stock in a transaction on Thursday, March 20th. The shares were bought at an average price of $390.58 per share, with a total value of $507,754.00. Following the transaction, the chief financial officer now directly owns 29,876 shares of the company's stock, valued at approximately $11,668,968.08. This trade 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 can be accessed through the SEC website. 0.16% of the stock is owned by corporate insiders.

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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