GWN Securities Inc. acquired a new position in shares of 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 acquired 505 shares of the software company’s stock, valued at approximately $220,000.
Several other large investors have also made changes to their positions in the company. 1ST Source Bank raised its position in shares of Adobe by 0.7% in the 3rd quarter. 1ST Source Bank now owns 2,889 shares of the software company’s stock worth $1,496,000 after buying an additional 20 shares during the period. Holistic Financial Partners raised its position in shares of Adobe by 6.0% in the 3rd quarter. Holistic Financial Partners now owns 387 shares of the software company’s stock worth $200,000 after buying an additional 22 shares during the period. Foster Group Inc. raised its position in shares of Adobe by 4.6% in the 4th quarter. Foster Group Inc. now owns 526 shares of the software company’s stock worth $234,000 after buying an additional 23 shares during the period. Atlantic Edge Private Wealth Management LLC raised its position in shares of 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 worth $2,404,000 after buying an additional 23 shares during the period. Finally, Veery Capital LLC raised its position in shares of Adobe by 1.9% in the 4th quarter. Veery Capital LLC now owns 1,315 shares of the software company’s stock worth $585,000 after buying an additional 24 shares during the period. 81.79% of the stock is owned by hedge funds and other institutional investors.
Adobe Stock Up 1.2 %
NASDAQ:ADBE opened at $399.34 on Tuesday. The company has a market capitalization of $173.88 billion, a price-to-earnings ratio of 32.20, a price-to-earnings-growth ratio of 2.15 and a beta of 1.37. Adobe Inc. has a one year low of $374.50 and a one year high of $587.75. The stock has a 50-day simple moving average of $436.39 and a 200 day simple moving average of $480.30. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07.
Analyst Upgrades and Downgrades
ADBE has been the topic of several research reports. Evercore ISI cut their target price on Adobe from $650.00 to $550.00 and set an “outperform” rating on the stock in a research report on Thursday, March 13th. Mizuho cut their price objective on Adobe from $620.00 to $575.00 and set an “outperform” rating on the stock in a research report on Thursday, March 13th. UBS Group cut their price objective on Adobe from $475.00 to $460.00 and set a “neutral” rating on the stock in a research report on Thursday, March 13th. Oppenheimer cut their price objective on Adobe from $560.00 to $530.00 and set an “outperform” rating on the stock in a research report on Thursday, March 13th. Finally, DA Davidson cut their price objective on Adobe from $685.00 to $625.00 and set a “buy” 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 assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $540.60.
Check Out Our Latest Stock Analysis on Adobe
Insider Buying and Selling at Adobe
In related news, Director David A. Ricks bought 2,250 shares of the firm’s stock in a transaction on Tuesday, January 28th. The stock was bought at an average cost of $443.98 per share, for a total transaction of $998,955.00. Following the completion of the purchase, the director now directly owns 4,984 shares in the company, valued at approximately $2,212,796.32. The trade was a 82.30 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Scott Belsky sold 3,819 shares of Adobe 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 completion of the transaction, the executive vice president now owns 18,334 shares of the company’s stock, valued at approximately $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 sold a total of 5,075 shares of company stock worth $2,191,826 over the last ninety days. Company insiders own 0.16% 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.
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