Mariner LLC Acquires 6,625 Shares of Adobe Inc. (NASDAQ:ADBE)

Mariner LLC raised its stake in Adobe Inc. (NASDAQ:ADBE - Free Report) by 1.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 386,282 shares of the software company's stock after purchasing an additional 6,625 shares during the period. Mariner LLC owned 0.09% of Adobe worth $171,777,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in ADBE. Decker Retirement Planning Inc. bought a new stake in Adobe during the 4th quarter worth approximately $31,000. Summit Securities Group LLC purchased a new position in shares of Adobe during the fourth quarter valued at approximately $31,000. Caitlin John LLC grew its holdings 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 buying an additional 48 shares in the last quarter. Mascoma Wealth Management LLC raised its position in Adobe by 142.9% in the 4th quarter. Mascoma Wealth Management LLC now owns 85 shares of the software company's stock valued at $38,000 after buying an additional 50 shares during the last quarter. Finally, LFA Lugano Financial Advisors SA purchased a new position in Adobe during the fourth quarter worth about $38,000. Institutional investors and hedge funds own 81.79% of the company's stock.

Insider Buying and Selling

In other news, CFO Daniel Durn acquired 1,300 shares of the firm's stock in a transaction on Thursday, March 20th. The shares were purchased at an average price of $390.58 per share, for a total transaction of $507,754.00. Following the completion of the transaction, the chief financial officer now owns 29,876 shares of the company's stock, valued at $11,668,968.08. The trade was a 4.55 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Scott Belsky sold 922 shares of the stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $437.28, for a total transaction of $403,172.16. Following the sale, the executive vice president now owns 22,153 shares of the company's stock, valued at approximately $9,687,063.84. This represents a 4.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,075 shares of company stock worth $2,191,826 in the last ninety days. 0.16% of the stock is owned by insiders.

Adobe Price Performance

ADBE traded up $4.61 during trading on Friday, reaching $348.80. The stock had a trading volume of 5,206,364 shares, compared to its average volume of 3,418,457. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07. The business has a 50-day moving average of $403.54 and a 200-day moving average of $450.43. Adobe Inc. has a one year low of $332.01 and a one year high of $587.75. The stock has a market cap of $148.66 billion, a PE ratio of 28.13, a PEG ratio of 2.15 and a beta of 1.49.

Adobe (NASDAQ:ADBE - Get Free Report) last issued its earnings results on Wednesday, March 12th. The software company reported $5.08 EPS for the quarter, topping analysts' consensus estimates of $4.97 by $0.11. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The company had revenue of $5.71 billion for the quarter, compared to analysts' expectations of $5.66 billion. During the same quarter last year, the company earned $4.48 EPS. As a group, equities research analysts anticipate that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. reduced their target price on Adobe from $580.00 to $540.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. BNP Paribas raised Adobe from an "underperform" rating to a "neutral" rating and set a $425.00 target price for the company in a research report on Wednesday, January 15th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $475.00 price target (down from $600.00) on shares of Adobe in a report on Wednesday, January 8th. Stifel Nicolaus decreased their price objective on shares of Adobe from $600.00 to $525.00 and set a "buy" rating for the company in a report on Thursday, March 13th. Finally, Citigroup lowered their price objective on shares of Adobe from $551.00 to $490.00 and set a "neutral" rating on the stock in a research report on Monday, March 10th. Eleven investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Adobe currently has a consensus rating of "Moderate Buy" and a consensus price target of $513.27.

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.