1,131 Shares in Adobe Inc. (NASDAQ:ADBE) Bought by National Wealth Management Group LLC

National Wealth Management Group LLC bought a new position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,131 shares of the software company's stock, valued at approximately $503,000.

Several other large investors have also made changes to their positions in ADBE. Norges Bank purchased a new stake in shares of Adobe during the 4th quarter valued at about $2,553,035,000. Proficio Capital Partners LLC lifted its stake in Adobe by 82,528.8% in the fourth quarter. Proficio Capital Partners LLC now owns 1,042,775 shares of the software company's stock worth $463,701,000 after purchasing an additional 1,041,513 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Adobe by 82.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,107,788 shares of the software company's stock valued at $937,291,000 after buying an additional 952,233 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Adobe during the 4th quarter worth approximately $243,827,000. Finally, Assenagon Asset Management S.A. increased its stake in Adobe by 42.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,168,584 shares of the software company's stock worth $519,646,000 after purchasing an additional 347,536 shares during the period. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

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, EVP Scott Belsky sold 922 shares of the firm's stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $437.28, for a total value of $403,172.16. Following the transaction, the executive vice president now owns 22,153 shares of the company's stock, valued at $9,687,063.84. This trade represents a 4.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,075 shares of company stock valued at $2,191,826 in the last quarter. Insiders own 0.16% of the company's stock.

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Wall Street Analysts Forecast Growth

ADBE has been the subject of several research reports. KeyCorp upgraded Adobe from an "underweight" rating to a "sector weight" rating in a report on Friday, March 21st. Jefferies Financial Group dropped their price objective on shares of Adobe from $650.00 to $590.00 and set a "buy" rating on the stock in a research note on Monday. Royal Bank of Canada reaffirmed an "outperform" rating and set a $530.00 target price on shares of Adobe in a research report on Wednesday, March 19th. Redburn Atlantic assumed coverage on Adobe in a report on Wednesday, February 19th. They set a "neutral" rating for the company. Finally, Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $475.00 price objective (down previously from $600.00) on shares of Adobe in a report on Wednesday, January 8th. Eleven investment 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 MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $531.54.

Adobe Trading Down 2.5 %

NASDAQ ADBE traded down $9.32 on Friday, reaching $357.93. 2,154,279 shares of the company were exchanged, compared to its average volume of 3,335,496. Adobe Inc. has a fifty-two week low of $353.12 and a fifty-two week high of $587.75. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29. The business's fifty day moving average price is $427.38 and its 200 day moving average price is $465.15. The stock has a market capitalization of $152.55 billion, a P/E ratio of 28.87, a price-to-earnings-growth ratio of 2.15 and a beta of 1.49.

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 for the quarter, beating the consensus estimate of $4.97 by $0.11. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The business had revenue of $5.71 billion during the quarter, compared to analysts' expectations of $5.66 billion. During the same quarter in the prior year, the company posted $4.48 EPS. Analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current year.

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.