Schnieders Capital Management LLC Acquires 175 Shares of Adobe Inc. (NASDAQ:ADBE)

Schnieders Capital Management LLC raised its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 6.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,740 shares of the software company’s stock after purchasing an additional 175 shares during the period. Schnieders Capital Management LLC’s holdings in Adobe were worth $1,218,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Legacy Investment Solutions LLC purchased a new stake in shares of Adobe during the third quarter valued at approximately $26,000. MidAtlantic Capital Management Inc. purchased a new stake in shares of Adobe during the third quarter valued at approximately $30,000. True Wealth Design LLC grew its holdings in shares of Adobe by 141.7% during the third quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock valued at $30,000 after buying an additional 34 shares during the last quarter. Briaud Financial Planning Inc purchased a new stake in shares of Adobe during the third quarter valued at approximately $36,000. Finally, Decker Retirement Planning Inc. purchased a new stake in shares of Adobe during the fourth quarter valued at approximately $31,000. Institutional investors own 81.79% of the company’s stock.

Insider Buying and Selling 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 value of $333,300.00. Following the sale, the director now directly owns 32,929 shares in the company, valued at approximately $18,110,950. The trade was a 1.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Jillian Forusz sold 334 shares of Adobe stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $435.83, for a total transaction of $145,567.22. Following the completion of the sale, the chief accounting officer now owns 2,685 shares in the company, valued at approximately $1,170,203.55. This represents a 11.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,681 shares of company stock worth $2,525,126. Insiders own 0.15% of the company’s stock.

Adobe Stock Down 0.4 %

Shares of ADBE stock opened at $441.50 on Thursday. The company has a market capitalization of $192.18 billion, a price-to-earnings ratio of 35.60, a PEG ratio of 2.15 and a beta of 1.31. Adobe Inc. has a one year low of $403.75 and a one year high of $587.75. The company’s fifty day moving average price is $439.88 and its 200-day moving average price is $492.27. 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 (NASDAQ:ADBE) last announced its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, beating the consensus estimate of $4.67 by $0.14. The firm 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%. The company’s revenue was up 11.1% on a year-over-year basis. During the same period last year, the firm earned $3.52 EPS. Sell-side analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Analyst Ratings Changes

ADBE has been the topic of a number of recent analyst reports. Barclays cut their price target on shares of Adobe from $675.00 to $645.00 and set an “overweight” rating on the stock in a report on Thursday, December 12th. StockNews.com cut shares of Adobe from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 20th. Jefferies Financial Group cut their price target on shares of Adobe from $700.00 to $650.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Bank of America dropped their target price on shares of Adobe from $640.00 to $605.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $475.00 target price (down previously from $600.00) on shares of Adobe in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Adobe presently has a consensus rating of “Moderate Buy” and an average price target of $570.88.

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.