Adobe Inc. (NASDAQ:ADBE) Shares Purchased by Richard W. Paul & Associates LLC

Richard W. Paul & Associates LLC boosted its holdings in Adobe Inc. (NASDAQ:ADBE) by 4.6% in the 4th quarter, HoldingsChannel reports. The fund owned 2,799 shares of the software company’s stock after acquiring an additional 124 shares during the quarter. Richard W. Paul & Associates LLC’s holdings in Adobe were worth $1,245,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Legacy Investment Solutions LLC purchased a new position in shares of Adobe in the 3rd quarter valued at about $26,000. Groupama Asset Managment grew its position in Adobe by 28.8% during the third quarter. Groupama Asset Managment now owns 51,482 shares of the software company’s stock worth $27,000 after buying an additional 11,522 shares during the period. MidAtlantic Capital Management Inc. purchased a new position in Adobe in the third quarter valued at about $30,000. True Wealth Design LLC lifted its position 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 valued at $30,000 after acquiring an additional 34 shares during the period. Finally, Decker Retirement Planning Inc. purchased a new stake in shares of Adobe during the 4th quarter worth approximately $31,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on ADBE. BNP Paribas raised Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 price objective for the company in a research note on Wednesday, January 15th. Jefferies Financial Group dropped their price target on Adobe from $700.00 to $650.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. Wells Fargo & Company decreased their price objective 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. DA Davidson dropped their target price on shares of Adobe from $685.00 to $625.00 and set a “buy” rating for the company in a report on Thursday, December 12th. Finally, Redburn Atlantic assumed coverage on shares of Adobe in a report on Wednesday, February 19th. They issued a “neutral” rating on the stock. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $570.88.

Insider Buying and Selling at Adobe

In other news, Director Amy Banse sold 606 shares of the company’s stock in a transaction dated Friday, December 6th. The stock was 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 owns 32,929 shares of the company’s stock, valued at $18,110,950. This represents a 1.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Scott Belsky sold 3,819 shares of the stock in a transaction dated 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 sale, the executive vice president now owns 18,334 shares of the company’s stock, valued at approximately $7,888,020.16. This trade represents a 17.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,681 shares of company stock valued at $2,525,126 over the last ninety days. Corporate insiders own 0.15% of the company’s stock.

Adobe Trading Up 0.3 %

ADBE stock opened at $438.49 on Friday. Adobe Inc. has a 52 week low of $403.75 and a 52 week high of $587.75. The company has a market cap of $190.87 billion, a price-to-earnings ratio of 35.36, a PEG ratio of 2.15 and a beta of 1.31. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29. The business has a fifty day simple moving average of $439.71 and a 200-day simple moving average of $491.24.

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

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.