Adobe Inc. (NASDAQ:ADBE) Shares Bought by Financial Counselors Inc.

Financial Counselors Inc. lifted its position in shares of Adobe Inc. (NASDAQ:ADBE) by 0.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 57,553 shares of the software company’s stock after buying an additional 274 shares during the period. Financial Counselors Inc.’s holdings in Adobe were worth $25,593,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in ADBE. Murphy & Mullick Capital Management Corp acquired a new stake in Adobe during the fourth quarter worth $313,000. Florida Financial Advisors LLC increased its position in shares of Adobe by 32.1% during the 4th quarter. Florida Financial Advisors LLC now owns 1,289 shares of the software company’s stock worth $573,000 after purchasing an additional 313 shares during the last quarter. Baxter Bros Inc. raised its holdings in Adobe by 5.7% in the 4th quarter. Baxter Bros Inc. now owns 3,265 shares of the software company’s stock valued at $1,452,000 after buying an additional 176 shares during the period. Potentia Wealth acquired a new position in Adobe in the fourth quarter valued at about $215,000. Finally, ATOMVEST Ltd acquired a new position in Adobe in the fourth quarter valued at about $12,807,000. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Insider Buying and Selling at Adobe

In other news, CFO Daniel Durn acquired 1,300 shares of the company’s stock in a transaction on Thursday, March 20th. The shares were bought at an average cost of $390.58 per share, with a total value of $507,754.00. Following the purchase, the chief financial officer now owns 29,876 shares of the company’s stock, valued at $11,668,968.08. This represents a 4.55 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Jillian Forusz sold 334 shares of the business’s stock in a transaction dated 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 owns 2,685 shares in the company, valued at approximately $1,170,203.55. This trade represents a 11.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,075 shares of company stock worth $2,191,826. 0.16% of the stock is currently owned by insiders.

Adobe Stock Performance

Shares of ADBE opened at $403.64 on Wednesday. The company’s 50 day simple moving average is $433.70 and its 200-day simple moving average is $472.75. Adobe Inc. has a 12-month low of $374.50 and a 12-month high of $587.75. The firm has a market cap of $175.75 billion, a PE ratio of 32.55, a price-to-earnings-growth ratio of 2.15 and a beta of 1.37. 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 (NASDAQ:ADBE) last posted its quarterly earnings data on Wednesday, March 12th. The software company reported $5.08 EPS for the quarter, beating analysts’ consensus estimates of $4.97 by $0.11. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The company had revenue of $5.71 billion for the quarter, compared to analyst estimates of $5.66 billion. During the same period in the previous year, the business posted $4.48 earnings per share. As a group, equities analysts predict that Adobe Inc. will post 16.65 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ADBE. Barclays reduced their price target on shares of Adobe from $675.00 to $645.00 and set an “overweight” rating on the stock in a research note on Thursday, December 12th. JMP Securities restated a “market perform” rating on shares of Adobe in a research note on Thursday, December 12th. Royal Bank of Canada restated an “outperform” rating and set a $530.00 price target on shares of Adobe in a research report on Wednesday, March 19th. Jefferies Financial Group cut their price objective on Adobe from $700.00 to $650.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $475.00 target price (down from $600.00) on shares of Adobe in a report on Wednesday, January 8th. Eleven research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $538.80.

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.