First Trust Advisors LP Has $194.51 Million Holdings in Adobe Inc. (NASDAQ:ADBE)

First Trust Advisors LP increased its position in Adobe Inc. (NASDAQ:ADBE - Free Report) by 15.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 437,408 shares of the software company's stock after acquiring an additional 58,218 shares during the period. First Trust Advisors LP owned approximately 0.10% of Adobe worth $194,507,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Decker Retirement Planning Inc. purchased a new stake in shares of Adobe in the 4th quarter valued at $31,000. Summit Securities Group LLC purchased a new position in shares of Adobe during the 4th quarter valued at approximately $31,000. Caitlin John LLC boosted 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. Avion Wealth grew its position in Adobe by 112.2% during the fourth quarter. Avion Wealth now owns 87 shares of the software company's stock valued at $38,000 after buying an additional 46 shares during the period. Finally, Mascoma Wealth Management LLC raised its position in shares of Adobe by 142.9% in the fourth quarter. Mascoma Wealth Management LLC now owns 85 shares of the software company's stock worth $38,000 after acquiring an additional 50 shares during the period. Institutional investors and hedge funds own 81.79% of the company's stock.

Adobe Stock Up 0.6 %

ADBE stock traded up $2.05 during mid-day trading on Wednesday, reaching $351.96. The company had a trading volume of 3,165,907 shares, compared to its average volume of 3,421,470. Adobe Inc. has a fifty-two week low of $332.01 and a fifty-two week high of $587.75. The firm has a fifty day simple moving average of $398.97 and a 200 day simple moving average of $447.84. The company has a market capitalization of $150.01 billion, a price-to-earnings ratio of 28.38, a price-to-earnings-growth ratio of 2.15 and a beta of 1.49. 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 - Get Free Report) last announced its earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.97 by $0.11. The firm had revenue of $5.71 billion during the quarter, compared to analysts' expectations of $5.66 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. During the same period in the prior year, the firm earned $4.48 EPS. Analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Adobe news, CFO Daniel Durn bought 1,300 shares of the business's stock in a transaction on Thursday, March 20th. The shares were purchased at an average price of $390.58 per share, with a total value of $507,754.00. Following the purchase, the chief financial officer now directly owns 29,876 shares of the company's stock, valued at approximately $11,668,968.08. The trade was a 4.55 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director David A. Ricks bought 2,250 shares of the business's stock in a transaction on Tuesday, January 28th. The stock was purchased at an average price of $443.98 per share, with a total value of $998,955.00. Following the completion of the transaction, the director now directly owns 4,984 shares of the company's stock, valued at $2,212,796.32. This trade represents a 82.30 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 5,075 shares of company stock valued at $2,191,826. Insiders own 0.16% of the company's stock.

Wall Street Analysts Forecast Growth

ADBE has been the subject of a number of analyst reports. StockNews.com cut Adobe from a "strong-buy" rating to a "buy" rating in a report on Tuesday, March 4th. Wells Fargo & Company decreased their price objective on shares of 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 target price on shares of Adobe from $580.00 to $540.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. Mizuho cut their price objective on Adobe from $620.00 to $575.00 and set an "outperform" rating for the company in a research note on Thursday, March 13th. Finally, Redburn Atlantic initiated coverage on Adobe in a report on Wednesday, February 19th. They set a "neutral" rating for the company. Eleven equities research 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 stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $502.88.

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.