JFG Wealth Management LLC Acquires Shares of 1,641 Adobe Inc. (NASDAQ:ADBE)

JFG Wealth Management LLC bought a new position in Adobe Inc. (NASDAQ:ADBE - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,641 shares of the software company's stock, valued at approximately $730,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in ADBE. Swedbank AB boosted its holdings in shares of Adobe by 0.3% in the third quarter. Swedbank AB now owns 1,196,175 shares of the software company's stock worth $619,355,000 after buying an additional 3,739 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its position in shares of Adobe by 13.0% in the third quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 1,392 shares of the software company's stock worth $721,000 after purchasing an additional 160 shares in the last quarter. Inscription Capital LLC lifted its position in shares of Adobe by 37.6% in the third quarter. Inscription Capital LLC now owns 531 shares of the software company's stock worth $275,000 after purchasing an additional 145 shares in the last quarter. Patriot Financial Group Insurance Agency LLC lifted its position in shares of Adobe by 12.8% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 2,189 shares of the software company's stock worth $1,133,000 after purchasing an additional 248 shares in the last quarter. Finally, Orrstown Financial Services Inc. lifted its position in shares of Adobe by 37.4% in the third quarter. Orrstown Financial Services Inc. now owns 3,108 shares of the software company's stock worth $1,609,000 after purchasing an additional 846 shares in the last quarter. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Adobe

In other Adobe news, Director Amy Banse sold 606 shares of Adobe stock in a transaction on Friday, December 6th. The shares were sold at an average price of $550.00, for a total transaction of $333,300.00. Following the sale, the director now owns 32,929 shares in the company, valued at $18,110,950. The trade was a 1.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Jillian Forusz sold 334 shares of Adobe 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 sale, the chief accounting officer now owns 2,685 shares in the company, valued at $1,170,203.55. This represents a 11.06 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,681 shares of company stock worth $2,525,126. Insiders own 0.15% of the company's stock.

Adobe Stock Performance

Shares of Adobe stock traded up $1.30 during midday trading on Friday, hitting $438.49. The company had a trading volume of 3,936,248 shares, compared to its average volume of 3,474,121. The business's 50 day simple moving average is $439.71 and its two-hundred day simple moving average is $491.24. The stock has a market cap of $190.87 billion, a PE ratio of 35.36, a P/E/G ratio of 2.15 and a beta of 1.31. 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 1-year low of $403.75 and a 1-year high of $587.75.

Adobe (NASDAQ:ADBE - Get Free Report) last announced its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.67 by $0.14. The business had revenue of $5.61 billion for 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 last year, the company posted $3.52 earnings per share. As a group, equities analysts predict that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on ADBE shares. Royal Bank of Canada reissued an "outperform" rating and issued a $590.00 price target on shares of Adobe in a research report on Thursday, February 13th. Piper Sandler reduced their price target 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. Redburn Atlantic started coverage on shares of Adobe in a research report on Wednesday, February 19th. They issued a "neutral" rating for the company. UBS Group reduced their price target on shares of Adobe from $525.00 to $475.00 and set a "neutral" rating for the company in a research report on Friday, January 3rd. Finally, Mizuho cut their price objective on shares of Adobe from $640.00 to $620.00 and set an "outperform" rating on the stock in a research report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $570.88.

Adobe 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.