Adobe Inc. (NASDAQ:ADBE) Shares Bought by Deane Retirement Strategies Inc.

Deane Retirement Strategies Inc. boosted its holdings in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 119.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,120 shares of the software company's stock after buying an additional 4,426 shares during the quarter. Adobe makes up approximately 1.8% of Deane Retirement Strategies Inc.'s investment portfolio, making the stock its 22nd biggest holding. Deane Retirement Strategies Inc.'s holdings in Adobe were worth $3,611,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of ADBE. Nordea Investment Management AB grew its holdings in shares of Adobe by 2.0% during the fourth quarter. Nordea Investment Management AB now owns 1,712,616 shares of the software company's stock valued at $765,094,000 after buying an additional 33,414 shares during the last quarter. Public Sector Pension Investment Board grew its holdings in shares of Adobe by 12.2% during the third quarter. Public Sector Pension Investment Board now owns 19,322 shares of the software company's stock valued at $10,005,000 after buying an additional 2,100 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Adobe by 28.0% during the third quarter. GAMMA Investing LLC now owns 6,458 shares of the software company's stock valued at $3,344,000 after buying an additional 1,412 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in shares of Adobe by 201.0% during the third quarter. Jacobs Levy Equity Management Inc. now owns 117,383 shares of the software company's stock valued at $60,779,000 after buying an additional 78,384 shares during the last quarter. Finally, Morse Asset Management Inc grew its holdings in shares of Adobe by 33.0% during the third quarter. Morse Asset Management Inc now owns 8,519 shares of the software company's stock valued at $4,411,000 after buying an additional 2,113 shares during the last quarter. 81.79% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling 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 transaction of $145,567.22. Following the completion of the transaction, the chief accounting officer now directly owns 2,685 shares in the company, valued at $1,170,203.55. This trade represents a 11.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at 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 value of $333,300.00. Following the transaction, the director now owns 32,929 shares of the company's stock, valued at $18,110,950. This trade represents a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,681 shares of company stock worth $2,525,126 in the last ninety days. 0.15% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ADBE. Stifel Nicolaus dropped their price objective on shares of Adobe from $650.00 to $600.00 and set a "buy" rating on the stock in a report on Thursday, December 12th. Bank of America decreased their target price on shares of Adobe from $640.00 to $605.00 and set a "buy" rating for the company in a research report on Thursday, December 12th. Piper Sandler decreased their target price on shares of Adobe from $635.00 to $600.00 and set an "overweight" rating for the company in a research report on Thursday, December 12th. Wells Fargo & Company decreased their target price 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. Finally, Mizuho decreased their target price on shares of Adobe from $640.00 to $620.00 and set an "outperform" rating for the company in a research report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $573.00.

Adobe Price Performance

ADBE stock traded down $0.43 during mid-day trading on Wednesday, reaching $442.41. The company's stock had a trading volume of 1,932,505 shares, compared to its average volume of 3,943,233. The stock has a market cap of $192.58 billion, a PE ratio of 35.62, a P/E/G ratio of 2.12 and a beta of 1.31. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29. Adobe Inc. has a fifty-two week low of $403.75 and a fifty-two week high of $638.25. The company's 50 day moving average is $465.79 and its two-hundred day moving average is $505.60.

Adobe (NASDAQ:ADBE - Get Free Report) last released its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, beating analysts' consensus estimates of $4.67 by $0.14. The company had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.54 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. Adobe's quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.52 EPS. Equities research analysts expect 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.