130 Shares in Adobe Inc. (NASDAQ:ADBE) Acquired by Kohmann Bosshard Financial Services LLC

Kohmann Bosshard Financial Services LLC purchased a new position in shares of Adobe Inc. (NASDAQ:ADBE) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 130 shares of the software company’s stock, valued at approximately $58,000.

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

Adobe Price Performance

NASDAQ:ADBE opened at $440.72 on Tuesday. Adobe Inc. has a 52 week low of $403.75 and a 52 week high of $587.75. The firm has a market cap of $191.85 billion, a price-to-earnings ratio of 35.54, a P/E/G ratio of 2.15 and a beta of 1.31. The firm’s 50-day simple moving average is $439.59 and its 200 day simple moving average is $489.79. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07.

Adobe (NASDAQ:ADBE) last released its quarterly earnings results 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 net margin of 25.85% and a return on equity of 45.87%. The business had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.54 billion. During the same period last year, the firm earned $3.52 earnings per share. Adobe’s revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, sell-side analysts predict that Adobe Inc. will post 16.65 earnings per share for the current year.

Insider Buying and Selling

In other Adobe news, CAO Jillian Forusz sold 334 shares of the firm’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $435.83, for a total value of $145,567.22. Following the transaction, the chief accounting officer now directly owns 2,685 shares of the company’s stock, valued at $1,170,203.55. This trade represents a 11.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Amy Banse sold 606 shares of the firm’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $550.00, for a total transaction of $333,300.00. Following the completion of the transaction, the director now directly owns 32,929 shares in the company, valued at approximately $18,110,950. This represents a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,681 shares of company stock valued at $2,525,126. 0.15% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

ADBE has been the subject of several research reports. Redburn Atlantic initiated coverage on shares of Adobe in a research report on Wednesday, February 19th. They set a “neutral” rating for the company. Citigroup lowered their price objective on shares of Adobe from $616.00 to $590.00 and set a “neutral” rating for the company in a research report on Monday, December 9th. Wells Fargo & Company lowered their price objective on shares of Adobe from $700.00 to $640.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Stifel Nicolaus lowered their price objective on shares of Adobe from $650.00 to $600.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. Finally, StockNews.com cut shares of Adobe from a “strong-buy” rating to a “buy” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $570.88.

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.