GWN Securities Inc. Invests $220,000 in Adobe Inc. (NASDAQ:ADBE)

GWN Securities Inc. acquired a new position in shares of Adobe Inc. (NASDAQ:ADBE) 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.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results 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 business had revenue of $5.71 billion during the quarter, compared to the consensus estimate of $5.66 billion. During the same period last year, the firm earned $4.48 earnings per share. Sell-side analysts predict that Adobe Inc. will post 16.65 EPS for the current fiscal year.

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.

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.