Adobe Inc. (NASDAQ:ADBE) Shares Bought by Kelly Lawrence W & Associates Inc. CA

Kelly Lawrence W & Associates Inc. CA boosted its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 6,413.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,059 shares of the software company's stock after acquiring an additional 22,705 shares during the quarter. Adobe accounts for approximately 2.4% of Kelly Lawrence W & Associates Inc. CA's holdings, making the stock its 18th largest position. Kelly Lawrence W & Associates Inc. CA's holdings in Adobe were worth $10,254,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Decker Retirement Planning Inc. purchased a new position in Adobe during the 4th quarter valued at $31,000. Summit Securities Group LLC acquired a new position in Adobe during the 4th quarter valued at approximately $31,000. Caitlin John LLC lifted its holdings in shares of 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. Avion Wealth boosted its holdings in Adobe by 112.2% in the fourth quarter. Avion Wealth now owns 87 shares of the software company's stock valued at $38,000 after purchasing an additional 46 shares during the last quarter. Finally, Mascoma Wealth Management LLC grew its stake in shares of Adobe by 142.9% during the 4th quarter. Mascoma Wealth Management LLC now owns 85 shares of the software company's stock worth $38,000 after purchasing an additional 50 shares during the period. Hedge funds and other institutional investors own 81.79% of the company's stock.

Analyst Ratings Changes

ADBE has been the topic of several research analyst reports. Wells Fargo & Company lowered their price objective on Adobe from $600.00 to $430.00 and set an "overweight" rating on the stock in a report on Tuesday. JPMorgan Chase & Co. cut their price target on shares of Adobe from $580.00 to $540.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. StockNews.com lowered Adobe from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, March 4th. KeyCorp upgraded Adobe from an "underweight" rating to a "sector weight" rating in a research note on Friday, March 21st. Finally, BMO Capital Markets decreased their price objective on shares of Adobe from $495.00 to $450.00 and set an "outperform" rating on the stock in a report on Wednesday, April 16th. Eleven analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $502.88.

Adobe Trading Up 0.6 %

Shares of NASDAQ:ADBE traded up $2.05 during trading on Wednesday, reaching $351.96. 3,165,907 shares of the company were exchanged, compared to its average volume of 3,426,337. The firm has a market capitalization of $150.01 billion, a PE ratio of 28.38, a P/E/G ratio of 2.15 and a beta of 1.49. The business's fifty day simple moving average is $398.97 and its 200-day simple moving average is $447.84. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. Adobe Inc. has a 12-month low of $332.01 and a 12-month high of $587.75.

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. The firm had revenue of $5.71 billion for the quarter, compared to the consensus estimate of $5.66 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. During the same quarter in the prior year, the business earned $4.48 earnings per share. On average, research analysts anticipate that Adobe Inc. will post 16.65 EPS for the current year.

Insider Activity at Adobe

In other Adobe news, Director David A. Ricks bought 2,250 shares of the company's stock in a transaction on Tuesday, January 28th. The shares were bought at an average price of $443.98 per share, for a total transaction of $998,955.00. Following the transaction, the director now owns 4,984 shares of the company's stock, valued at approximately $2,212,796.32. This trade represents a 82.30 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Daniel Durn acquired 1,300 shares of the firm's stock in a transaction that occurred on Thursday, March 20th. The stock was acquired 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 directly owns 29,876 shares in the company, valued at approximately $11,668,968.08. This represents a 4.55 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders sold 5,075 shares of company stock worth $2,191,826. Company insiders own 0.16% of the company's stock.

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.