641 Shares in Adobe Inc. (NASDAQ:ADBE) Acquired by Retirement Planning Co of New England Inc.

Retirement Planning Co of New England Inc. acquired a new position in shares of Adobe Inc. (NASDAQ:ADBE) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 641 shares of the software company’s stock, valued at approximately $285,000.

Several other institutional investors have also recently modified their holdings of the stock. RD Lewis Holdings Inc. acquired a new position in shares of Adobe during the 4th quarter worth approximately $248,000. Haven Capital Group Inc. acquired a new position in shares of Adobe during the 4th quarter worth approximately $3,268,000. BlackDiamond Wealth Management LLC raised its position in shares of Adobe by 3.6% during the 4th quarter. BlackDiamond Wealth Management LLC now owns 779 shares of the software company’s stock worth $346,000 after purchasing an additional 27 shares during the last quarter. Edgemoor Investment Advisors Inc. acquired a new position in shares of Adobe during the 4th quarter worth approximately $1,159,000. Finally, Terra Alpha Investments LLC acquired a new position in shares of Adobe during the 4th quarter worth approximately $1,786,000. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ADBE. Stifel Nicolaus cut their price target on Adobe from $600.00 to $525.00 and set a “buy” rating for the company in a report on Thursday, March 13th. StockNews.com downgraded Adobe from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 4th. Royal Bank of Canada cut their price target on Adobe from $550.00 to $530.00 and set an “outperform” rating for the company in a report on Thursday, March 13th. BMO Capital Markets cut their price target on Adobe from $515.00 to $495.00 and set an “outperform” rating for the company in a report on Thursday, March 13th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $475.00 price target (down from $600.00) on shares of Adobe in a report on Wednesday, January 8th. One research 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 company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $540.60.

Adobe Stock Performance

Shares of ADBE stock opened at $399.34 on Tuesday. Adobe Inc. has a 12 month low of $374.50 and a 12 month high of $587.75. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. The firm has a market capitalization of $173.88 billion, a P/E ratio of 32.20, a P/E/G ratio of 2.15 and a beta of 1.37. The company’s fifty day moving average price is $436.39 and its two-hundred day moving average price is $480.30.

Adobe (NASDAQ:ADBE) last issued 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 net margin of 25.85% and a return on equity of 45.87%. The firm had revenue of $5.71 billion for the quarter, compared to analyst estimates of $5.66 billion. During the same quarter in the previous year, the business posted $4.48 EPS. On average, research analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director David A. Ricks bought 2,250 shares of the business’s stock in a transaction dated Tuesday, January 28th. The shares were acquired at an average price of $443.98 per share, for a total transaction of $998,955.00. Following the purchase, the director now owns 4,984 shares in the company, valued at $2,212,796.32. This trade represents a 82.30 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Jillian Forusz sold 334 shares of the company’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $435.83, for a total transaction of $145,567.22. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Insiders have sold 5,075 shares of company stock worth $2,191,826 in the last quarter. 0.16% of the stock is owned by corporate insiders.

About Adobe

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.