Signature Wealth Management Group Acquires 174 Shares of Adobe Inc. (NASDAQ:ADBE)

Signature Wealth Management Group lifted its holdings in Adobe Inc. (NASDAQ:ADBE) by 8.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 2,212 shares of the software company’s stock after buying an additional 174 shares during the period. Signature Wealth Management Group’s holdings in Adobe were worth $984,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ADBE. Proficio Capital Partners LLC raised its stake in Adobe by 82,528.8% during the 4th quarter. Proficio Capital Partners LLC now owns 1,042,775 shares of the software company’s stock worth $463,701,000 after acquiring an additional 1,041,513 shares during the period. FMR LLC grew its holdings in shares of Adobe by 8.8% in the third quarter. FMR LLC now owns 9,690,163 shares of the software company’s stock valued at $5,017,373,000 after purchasing an additional 787,356 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Adobe during the fourth quarter worth $243,827,000. Assenagon Asset Management S.A. boosted its stake in Adobe by 42.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,168,584 shares of the software company’s stock worth $519,646,000 after buying an additional 347,536 shares during the period. Finally, Seilern Investment Management Ltd purchased a new position in Adobe during the fourth quarter worth $110,744,000. Institutional investors own 81.79% of the company’s stock.

Insiders Place Their Bets

In related news, Director David A. Ricks bought 2,250 shares of the business’s stock in a transaction that occurred on Tuesday, January 28th. The stock was acquired at an average price of $443.98 per share, for a total transaction of $998,955.00. Following the transaction, the director now directly owns 4,984 shares of the company’s stock, valued at $2,212,796.32. This represents a 82.30 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Jillian Forusz sold 334 shares of the firm’s stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $435.83, for a total value of $145,567.22. Following the sale, the chief accounting officer now directly owns 2,685 shares of the company’s stock, valued at $1,170,203.55. This represents a 11.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,075 shares of company stock worth $2,191,826. 0.16% of the stock is currently owned by company insiders.

Adobe Price Performance

Shares of NASDAQ:ADBE opened at $394.74 on Friday. The business has a 50 day moving average price of $437.03 and a 200 day moving average price of $482.06. Adobe Inc. has a twelve month low of $374.50 and a twelve month high of $587.75. The company has a market cap of $171.87 billion, a price-to-earnings ratio of 31.83, a PEG ratio of 2.15 and a beta of 1.37. 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 (NASDAQ:ADBE) last announced its quarterly earnings data on Wednesday, March 12th. The software company reported $5.08 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $5.66 billion. During the same quarter last year, the company earned $4.48 EPS. Research analysts predict that Adobe Inc. will post 16.65 earnings per share for the current year.

Analysts Set New Price Targets

ADBE has been the subject of several research analyst reports. Stifel Nicolaus decreased their target price on Adobe from $600.00 to $525.00 and set a “buy” rating for the company in a research report on Thursday. StockNews.com lowered Adobe from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 4th. Bank of America cut their target price on Adobe from $605.00 to $528.00 and set a “buy” rating on the stock in a research note on Thursday. JPMorgan Chase & Co. dropped their price target on Adobe from $580.00 to $540.00 and set an “overweight” rating on the stock in a research note on Thursday. Finally, Barclays dropped their target price on Adobe from $675.00 to $645.00 and set an “overweight” rating on the stock in a research report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Adobe presently has an average rating of “Moderate Buy” and a consensus target price of $540.60.

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.