Valicenti Advisory Services Inc. Invests $3.32 Million in Adobe Inc. (NASDAQ:ADBE)

Valicenti Advisory Services Inc. bought a new position in Adobe Inc. (NASDAQ:ADBE - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 7,455 shares of the software company's stock, valued at approximately $3,315,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Onyx Bridge Wealth Group LLC boosted its stake in shares of Adobe by 4.0% in the 3rd quarter. Onyx Bridge Wealth Group LLC now owns 526 shares of the software company's stock worth $272,000 after buying an additional 20 shares during the last quarter. Connable Office Inc. increased its holdings in Adobe by 0.5% in the 3rd quarter. Connable Office Inc. now owns 3,732 shares of the software company's stock worth $1,932,000 after acquiring an additional 20 shares during the last quarter. 1ST Source Bank raised its stake in Adobe by 0.7% in the 3rd quarter. 1ST Source Bank now owns 2,889 shares of the software company's stock valued at $1,496,000 after acquiring an additional 20 shares during the period. Next Capital Management LLC lifted its holdings in Adobe by 3.2% during the second quarter. Next Capital Management LLC now owns 678 shares of the software company's stock valued at $377,000 after purchasing an additional 21 shares during the last quarter. Finally, James J. Burns & Company LLC lifted its holdings in Adobe by 5.6% during the third quarter. James J. Burns & Company LLC now owns 415 shares of the software company's stock valued at $215,000 after purchasing an additional 22 shares during the last quarter. Institutional investors own 81.79% of the company's stock.

Insider Transactions at Adobe

In other Adobe news, EVP Scott Belsky sold 922 shares of the company's stock in a transaction on Friday, January 24th. The stock was 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 represents a 4.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 value of $145,567.22. Following the sale, the chief accounting officer now owns 2,685 shares of the company's stock, valued at approximately $1,170,203.55. This trade represents a 11.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,681 shares of company stock valued at $2,525,126 over the last three months. Corporate insiders own 0.15% of the company's stock.

Analyst Ratings Changes

ADBE has been the topic of several research reports. Piper Sandler lowered their price target on shares of Adobe from $635.00 to $600.00 and set an "overweight" rating on the stock in a research report on Thursday, December 12th. JMP Securities reissued a "market perform" rating on shares of Adobe in a report on Thursday, December 12th. Sanford C. Bernstein reduced their price target on shares of Adobe from $644.00 to $587.00 and set an "outperform" rating for the company in a research report on Thursday, December 12th. Barclays decreased their price objective on shares of Adobe from $675.00 to $645.00 and set an "overweight" rating on the stock in a research report on Thursday, December 12th. Finally, Jefferies Financial Group lowered their price target on Adobe from $700.00 to $650.00 and set a "buy" rating on the stock in a research report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $573.00.

Adobe Stock Down 0.3 %

Shares of NASDAQ ADBE traded down $1.16 during trading on Wednesday, reaching $441.68. The company had a trading volume of 2,993,831 shares, compared to its average volume of 4,004,716. The business's 50-day moving average is $465.79 and its 200 day moving average is $505.60. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29. The stock has a market cap of $192.26 billion, a PE ratio of 35.62, a P/E/G ratio of 2.12 and a beta of 1.31. Adobe Inc. has a 12-month low of $403.75 and a 12-month high of $638.25.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share for the quarter, beating analysts' consensus estimates of $4.67 by $0.14. The company had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $5.54 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. Adobe's revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.52 earnings per share. As a group, equities analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current fiscal 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.