Adobe Inc. (NASDAQ:ADBE) Shares Acquired by C M Bidwell & Associates Ltd.

C M Bidwell & Associates Ltd. increased its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 49.6% in the fourth quarter, Holdings Channel reports. The firm owned 350 shares of the software company’s stock after acquiring an additional 116 shares during the period. C M Bidwell & Associates Ltd.’s holdings in Adobe were worth $156,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. AIA Group Ltd purchased a new stake in shares of Adobe in the fourth quarter worth about $923,000. FSB Premier Wealth Management Inc. boosted its stake in shares of Adobe by 14.8% during the 4th quarter. FSB Premier Wealth Management Inc. now owns 697 shares of the software company’s stock valued at $310,000 after buying an additional 90 shares during the last quarter. Prevail Innovative Wealth Advisors LLC grew its position in shares of Adobe by 204.6% during the fourth quarter. Prevail Innovative Wealth Advisors LLC now owns 7,033 shares of the software company’s stock worth $3,127,000 after buying an additional 4,724 shares in the last quarter. United Bank increased its stake in shares of Adobe by 36.2% in the fourth quarter. United Bank now owns 3,535 shares of the software company’s stock worth $1,572,000 after buying an additional 939 shares during the last quarter. Finally, IPG Investment Advisors LLC acquired a new stake in Adobe in the fourth quarter valued at $222,000. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on ADBE. Robert W. Baird decreased their price target on Adobe from $490.00 to $410.00 and set a “neutral” rating for the company in a research note on Wednesday, March 19th. Evercore ISI reduced their price target on shares of Adobe from $650.00 to $550.00 and set an “outperform” rating on the stock in a research report on Thursday, March 13th. Oppenheimer lowered their price objective on shares of Adobe from $560.00 to $530.00 and set an “outperform” rating for the company in a research report on Thursday, March 13th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $475.00 target price (down from $600.00) on shares of Adobe in a research report on Wednesday, January 8th. Finally, TD Cowen lowered shares of Adobe from a “buy” rating to a “hold” rating and dropped their price target for the company from $625.00 to $550.00 in a research note on Thursday, December 12th. Eleven equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Adobe presently has an average rating of “Moderate Buy” and an average target price of $533.85.

Adobe Price Performance

Shares of NASDAQ:ADBE opened at $385.71 on Monday. The business has a fifty day simple moving average of $431.81 and a 200 day simple moving average of $468.92. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29. Adobe Inc. has a 1 year low of $374.50 and a 1 year high of $587.75. The firm has a market cap of $164.39 billion, a price-to-earnings ratio of 31.11, a P/E/G ratio of 2.15 and a beta of 1.37.

Adobe (NASDAQ:ADBE) 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. The business had revenue of $5.71 billion during the quarter, compared to analysts’ expectations of $5.66 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. During the same quarter in the previous year, the business posted $4.48 EPS. As a group, sell-side analysts predict that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Insider Activity

In other Adobe news, EVP Scott Belsky sold 3,819 shares of the stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $430.24, for a total transaction of $1,643,086.56. Following the transaction, the executive vice president now owns 18,334 shares in the company, valued at $7,888,020.16. This trade represents a 17.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Daniel Durn acquired 1,300 shares of Adobe stock in a transaction dated Thursday, March 20th. The stock was purchased at an average price of $390.58 per share, with a total value of $507,754.00. Following the completion of the purchase, the chief financial officer now directly owns 29,876 shares of the company’s stock, valued at $11,668,968.08. The trade was a 4.55 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 5,075 shares of company stock worth $2,191,826. 0.16% of the stock is owned by corporate insiders.

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.