Paragon Private Wealth Management LLC Purchases 130 Shares of Adobe Inc. (NASDAQ:ADBE)

Paragon Private Wealth Management LLC increased its position in shares of Adobe Inc. (NASDAQ:ADBE) by 7.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 1,897 shares of the software company’s stock after buying an additional 130 shares during the period. Paragon Private Wealth Management LLC’s holdings in Adobe were worth $844,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Legacy Investment Solutions LLC acquired a new stake in Adobe in the 3rd quarter valued at $26,000. Groupama Asset Managment boosted its stake in Adobe by 28.8% in the 3rd quarter. Groupama Asset Managment now owns 51,482 shares of the software company’s stock valued at $27,000 after buying an additional 11,522 shares in the last quarter. MidAtlantic Capital Management Inc. acquired a new stake in Adobe in the 3rd quarter valued at $30,000. True Wealth Design LLC boosted its stake in Adobe by 141.7% in the 3rd quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock valued at $30,000 after buying an additional 34 shares in the last quarter. Finally, Decker Retirement Planning Inc. acquired a new stake in Adobe in the 4th quarter valued at $31,000. 81.79% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on ADBE shares. Wells Fargo & Company decreased their price target on Adobe from $640.00 to $600.00 and set an “overweight” rating on the stock in a research note on Friday. Jefferies Financial Group decreased their target price on Adobe from $700.00 to $650.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Redburn Atlantic began coverage on Adobe in a report on Wednesday, February 19th. They set a “neutral” rating on the stock. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $475.00 target price (down previously from $600.00) on shares of Adobe in a report on Wednesday, January 8th. Finally, JMP Securities restated a “market perform” rating on shares of Adobe in a report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $567.81.

Adobe Stock Up 1.0 %

ADBE stock opened at $449.40 on Monday. 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 50 day moving average price of $439.56 and a two-hundred day moving average price of $486.60. The company has a market cap of $195.67 billion, a price-to-earnings ratio of 36.24, a P/E/G ratio of 2.15 and a beta of 1.37. Adobe Inc. has a twelve month low of $403.75 and a twelve month high of $587.75.

Adobe (NASDAQ:ADBE) last released its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share for the quarter, topping the consensus estimate of $4.67 by $0.14. The business had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.54 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period last year, the firm posted $3.52 EPS. Analysts anticipate that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CAO Jillian Forusz sold 334 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total transaction of $145,567.22. Following the transaction, the chief accounting officer now directly owns 2,685 shares of the company’s stock, valued at approximately $1,170,203.55. This represents a 11.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Scott Belsky sold 3,819 shares of the stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $430.24, for a total value of $1,643,086.56. Following the sale, the executive vice president now directly owns 18,334 shares of the company’s stock, valued at $7,888,020.16. The trade was a 17.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,075 shares of company stock worth $2,191,826 in the last 90 days. Insiders own 0.15% of the company’s stock.

Adobe Company 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.