938 Shares in Adobe Inc. (NASDAQ:ADBE) Acquired by Grant Private Wealth Management Inc

Grant Private Wealth Management Inc acquired a new stake in Adobe Inc. (NASDAQ:ADBE - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 938 shares of the software company's stock, valued at approximately $417,000.

Other hedge funds have also modified their holdings of the company. Legacy Investment Solutions LLC acquired a new stake in Adobe in the third quarter valued at $26,000. Groupama Asset Managment increased its holdings in shares of Adobe by 28.8% in the 3rd quarter. Groupama Asset Managment now owns 51,482 shares of the software company's stock valued at $27,000 after purchasing an additional 11,522 shares in the last quarter. Decker Retirement Planning Inc. acquired a new stake in shares of Adobe in the fourth quarter valued at about $31,000. Summit Securities Group LLC purchased a new stake in Adobe during the fourth quarter worth about $31,000. Finally, Caitlin John LLC grew its position 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 during the period. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Adobe

In other news, CFO Daniel Durn bought 1,300 shares of the company's stock in a transaction that occurred on Thursday, March 20th. The shares were acquired at an average price of $390.58 per share, with a total value of $507,754.00. Following the transaction, the chief financial officer now owns 29,876 shares in the company, valued at $11,668,968.08. This represents a 4.55 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David A. Ricks acquired 2,250 shares of the business's stock in a transaction dated Tuesday, January 28th. The stock was acquired at an average cost 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 $2,212,796.32. This represents a 82.30 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 5,075 shares of company stock valued at $2,191,826. Company insiders own 0.16% of the company's stock.

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Analyst Upgrades and Downgrades

ADBE has been the topic of a number of research analyst reports. Barclays decreased their target price on Adobe from $675.00 to $645.00 and set an "overweight" rating on the stock in a research report on Thursday, December 12th. Sanford C. Bernstein decreased their price objective on shares of Adobe from $644.00 to $587.00 and set an "outperform" rating on the stock in a research report on Thursday, December 12th. Oppenheimer dropped their target price on shares of Adobe from $560.00 to $530.00 and set an "outperform" rating for the company in a report on Thursday, March 13th. Evercore ISI reduced their price target on shares of Adobe from $650.00 to $550.00 and set an "outperform" rating on the stock in a report on Thursday, March 13th. Finally, Wells Fargo & Company lowered their price target on shares of Adobe from $640.00 to $600.00 and set an "overweight" rating on the stock in a research report on Friday, March 7th. 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. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $531.54.

Adobe Trading Down 4.8 %

NASDAQ:ADBE traded down $18.53 on Thursday, hitting $367.25. 5,319,125 shares of the stock were exchanged, compared to its average volume of 3,339,589. 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 Inc. has a 52 week low of $365.86 and a 52 week high of $587.75. The stock has a market capitalization of $156.52 billion, a price-to-earnings ratio of 29.62, a P/E/G ratio of 2.15 and a beta of 1.49. The company's 50-day moving average price is $427.38 and its 200 day moving average price is $465.15.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its quarterly earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share (EPS) for the quarter, topping the consensus estimate 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 last year, the company earned $4.48 EPS. On average, equities research analysts forecast that Adobe Inc. will post 16.65 earnings per share 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.