JFG Wealth Management LLC Purchases New Shares in Adobe Inc. (NASDAQ:ADBE)

JFG Wealth Management LLC acquired a new position in shares of Adobe Inc. (NASDAQ:ADBE) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 1,641 shares of the software company’s stock, valued at approximately $730,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of ADBE. Legacy Investment Solutions LLC acquired a new stake in Adobe during the third quarter worth approximately $26,000. MidAtlantic Capital Management Inc. bought a new stake in shares of Adobe during the 3rd quarter valued at $30,000. True Wealth Design LLC grew its holdings in shares of Adobe by 141.7% during the 3rd quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock worth $30,000 after purchasing an additional 34 shares in the last quarter. Briaud Financial Planning Inc bought a new position in shares of Adobe in the third quarter worth $36,000. Finally, Decker Retirement Planning Inc. acquired a new position in Adobe in the fourth quarter valued at about $31,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Insider Buying and Selling

In related news, EVP Scott Belsky sold 3,819 shares of the business’s stock in a transaction on Monday, January 27th. The shares were 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. The trade was a 17.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Amy Banse sold 606 shares of the business’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $550.00, for a total value of $333,300.00. Following the completion of the sale, the director now directly owns 32,929 shares of the company’s stock, valued at $18,110,950. The trade was a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,681 shares of company stock valued at $2,525,126 over the last quarter. Insiders own 0.15% of the company’s stock.

Adobe Trading Down 0.2 %

NASDAQ ADBE opened at $443.41 on Wednesday. Adobe Inc. has a 12 month low of $403.75 and a 12 month high of $587.75. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $193.02 billion, a PE ratio of 35.76, a price-to-earnings-growth ratio of 2.15 and a beta of 1.31. The business’s 50-day moving average price is $439.88 and its two-hundred day moving average price is $492.62.

Adobe (NASDAQ:ADBE) last released its earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share for the quarter, beating analysts’ consensus estimates of $4.67 by $0.14. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The business had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.54 billion. During the same quarter in the prior year, the firm posted $3.52 EPS. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. On average, analysts expect that Adobe Inc. will post 16.65 EPS for the current year.

Wall Street Analyst Weigh In

ADBE has been the topic of a number of analyst reports. TD Cowen downgraded shares of Adobe from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $625.00 to $550.00 in a research note on Thursday, December 12th. Wells Fargo & Company reduced their price target on shares of Adobe from $700.00 to $640.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Citigroup decreased their price objective on shares of Adobe from $616.00 to $590.00 and set a “neutral” rating on the stock in a research note on Monday, December 9th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $475.00 target price (down from $600.00) on shares of Adobe in a research note on Wednesday, January 8th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $590.00 price target on shares of Adobe in a research note on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Adobe presently has an average rating of “Moderate Buy” and a consensus price target of $570.88.

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.