Adobe Inc. (NASDAQ:ADBE) Stock Position Raised by Optimum Investment Advisors

Optimum Investment Advisors grew its position in shares of Adobe Inc. (NASDAQ:ADBE) by 3.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 2,791 shares of the software company’s stock after acquiring an additional 100 shares during the period. Optimum Investment Advisors’ holdings in Adobe were worth $1,241,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in ADBE. Legacy Investment Solutions LLC bought a new stake in Adobe in the third quarter worth approximately $26,000. Groupama Asset Managment increased its holdings in shares of Adobe by 28.8% during the 3rd quarter. Groupama Asset Managment now owns 51,482 shares of the software company’s stock valued at $27,000 after acquiring an additional 11,522 shares during the last quarter. True Wealth Design LLC raised its stake in shares of Adobe by 141.7% in 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 in the last quarter. Decker Retirement Planning Inc. acquired a new stake in Adobe in the 4th quarter worth approximately $31,000. Finally, Caitlin John LLC boosted its position in Adobe by 171.4% during the fourth quarter. Caitlin John LLC now owns 76 shares of the software company’s stock worth $34,000 after purchasing an additional 48 shares during the period. Institutional investors own 81.79% of the company’s stock.

Insider Transactions at Adobe

In other news, CAO Jillian Forusz sold 334 shares of the firm’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total value of $145,567.22. Following the completion of the sale, the chief accounting officer now directly 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 sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Scott Belsky sold 3,819 shares of the company’s stock in a transaction dated Monday, January 27th. The stock was 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 approximately $7,888,020.16. This trade represents a 17.24 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,075 shares of company stock valued at $2,191,826. Corporate insiders own 0.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. BMO Capital Markets dropped their price target on shares of Adobe from $515.00 to $495.00 and set an “outperform” rating on the stock in a research report on Thursday, March 13th. DA Davidson dropped their target price on shares of Adobe from $685.00 to $625.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Sanford C. Bernstein decreased their price target on shares of Adobe from $644.00 to $587.00 and set an “outperform” rating for the company in a report on Thursday, December 12th. Citigroup dropped their price objective on Adobe from $551.00 to $490.00 and set a “neutral” rating on the stock in a research note on Monday, March 10th. Finally, JMP Securities restated a “market perform” rating on shares of Adobe in a research note on Thursday, December 12th. Eleven analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $538.80.

Adobe Stock Performance

Shares of NASDAQ:ADBE opened at $387.26 on Friday. 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 business’s fifty day moving average price is $434.16 and its two-hundred day moving average price is $475.80. Adobe Inc. has a fifty-two week low of $374.50 and a fifty-two week high of $587.75. The stock has a market capitalization of $168.62 billion, a price-to-earnings ratio of 31.23, a price-to-earnings-growth ratio of 2.15 and a beta of 1.37.

Adobe (NASDAQ:ADBE) last posted its earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share for the quarter, topping the consensus estimate of $4.97 by $0.11. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The business had revenue of $5.71 billion for the quarter, compared to analyst estimates of $5.66 billion. During the same quarter in the prior year, the firm earned $4.48 EPS. As a group, analysts predict that Adobe Inc. will post 16.65 EPS for the current fiscal year.

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.