Signature Estate & Investment Advisors LLC Has $619,000 Stock Position in Adobe Inc. (NASDAQ:ADBE)

Signature Estate & Investment Advisors LLC cut its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 2.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,391 shares of the software company’s stock after selling 40 shares during the quarter. Signature Estate & Investment Advisors LLC’s holdings in Adobe were worth $619,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Legacy Investment Solutions LLC bought a new stake in shares of Adobe during the third quarter valued at approximately $26,000. True Wealth Design LLC increased its holdings in 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 buying an additional 34 shares during the period. Decker Retirement Planning Inc. bought a new position in shares of Adobe during the 4th quarter worth about $31,000. Caitlin John LLC boosted its position in shares of Adobe by 171.4% during the 4th quarter. Caitlin John LLC now owns 76 shares of the software company’s stock valued at $34,000 after acquiring an additional 48 shares in the last quarter. Finally, Mascoma Wealth Management LLC increased its stake in Adobe by 142.9% in the fourth quarter. Mascoma Wealth Management LLC now owns 85 shares of the software company’s stock valued at $38,000 after acquiring an additional 50 shares during the period. Institutional investors and hedge funds own 81.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ADBE. Summit Redstone set a $410.00 price target on shares of Adobe in a research note on Wednesday, March 19th. Barclays lowered their price target on Adobe from $675.00 to $645.00 and set an “overweight” rating on the stock in a research report on Thursday, December 12th. UBS Group set a $495.00 price objective on Adobe in a report on Thursday, March 13th. Redburn Atlantic assumed coverage on shares of Adobe in a report on Wednesday, February 19th. They issued a “neutral” rating on the stock. Finally, Robert W. Baird cut their price target on shares of Adobe from $490.00 to $410.00 and set a “neutral” rating for the company in a report on Wednesday, March 19th. Eleven research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $533.85.

Insider Buying and Selling at Adobe

In related news, CAO Jillian Forusz sold 334 shares of the business’s stock in a transaction that occurred 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. The trade was a 11.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Daniel Durn acquired 1,300 shares of the stock in a transaction on Thursday, March 20th. The shares were bought at an average price of $390.58 per share, for a total transaction of $507,754.00. Following the purchase, the chief financial officer now owns 29,876 shares in the company, valued at approximately $11,668,968.08. This trade represents a 4.55 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 5,075 shares of company stock valued at $2,191,826 in the last three months. 0.16% of the stock is currently owned by company insiders.

Adobe Stock Down 1.4 %

Shares of ADBE stock opened at $397.81 on Thursday. Adobe Inc. has a 52-week low of $374.50 and a 52-week high of $587.75. The stock has a market cap of $173.21 billion, a price-to-earnings ratio of 32.08, a PEG ratio of 2.15 and a beta of 1.37. The firm’s 50-day moving average is $433.31 and its 200-day moving average is $472.23. 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 posted its earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share for the quarter, topping analysts’ consensus estimates of $4.97 by $0.11. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The business had revenue of $5.71 billion for the quarter, compared to analyst estimates of $5.66 billion. During the same period in the previous year, the firm earned $4.48 EPS. Sell-side analysts predict that Adobe Inc. will post 16.65 EPS for the current year.

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.