705 Shares in Adobe Inc. (NASDAQ:ADBE) Purchased by Murphy & Mullick Capital Management Corp

Murphy & Mullick Capital Management Corp purchased a new position in shares of Adobe Inc. (NASDAQ:ADBE) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 705 shares of the software company’s stock, valued at approximately $313,000.

A number of other institutional investors also recently bought and sold shares of the business. United Bank raised its stake in shares of Adobe by 19.7% during the 3rd quarter. United Bank now owns 2,596 shares of the software company’s stock valued at $1,344,000 after buying an additional 428 shares during the last quarter. Penserra Capital Management LLC grew its holdings in Adobe by 1.2% during the third quarter. Penserra Capital Management LLC now owns 4,570 shares of the software company’s stock worth $2,365,000 after acquiring an additional 54 shares during the period. Larson Financial Group LLC grew its holdings in Adobe by 105.0% during the third quarter. Larson Financial Group LLC now owns 1,101 shares of the software company’s stock worth $570,000 after acquiring an additional 564 shares during the period. Dai ichi Life Insurance Company Ltd raised its position in Adobe by 3.3% during the third quarter. Dai ichi Life Insurance Company Ltd now owns 55,896 shares of the software company’s stock valued at $28,942,000 after acquiring an additional 1,779 shares in the last quarter. Finally, FMR LLC lifted its holdings in Adobe by 8.8% in the third quarter. FMR LLC now owns 9,690,163 shares of the software company’s stock valued at $5,017,373,000 after acquiring an additional 787,356 shares during the period. 81.79% of the stock is owned by hedge funds and other institutional investors.

Adobe Stock Up 2.3 %

NASDAQ ADBE opened at $403.64 on Wednesday. The business’s fifty day simple moving average is $433.70 and its 200-day simple moving average is $472.75. 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 firm has a market cap of $175.75 billion, a PE ratio of 32.55, a P/E/G ratio of 2.15 and a beta of 1.37. Adobe Inc. has a 52 week low of $374.50 and a 52 week high of $587.75.

Adobe (NASDAQ:ADBE) last issued its earnings results on Wednesday, March 12th. The software company reported $5.08 EPS for the quarter, topping analysts’ consensus estimates of $4.97 by $0.11. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The company had revenue of $5.71 billion for the quarter, compared to the consensus estimate of $5.66 billion. During the same period in the previous year, the firm earned $4.48 earnings per share. As a group, equities analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current year.

Insider Activity at Adobe

In other news, EVP Scott Belsky sold 3,819 shares of the company’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $430.24, for a total value of $1,643,086.56. Following the transaction, the executive vice president now owns 18,334 shares of the company’s stock, valued at $7,888,020.16. This represents a 17.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director David A. Ricks acquired 2,250 shares of the business’s stock in a transaction that occurred on Tuesday, January 28th. The shares were acquired at an average cost of $443.98 per share, with a total value of $998,955.00. Following the completion of the transaction, the director now directly owns 4,984 shares in the company, valued at approximately $2,212,796.32. The trade was a 82.30 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 5,075 shares of company stock worth $2,191,826. Insiders own 0.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on ADBE shares. Citigroup cut their target price on shares of Adobe from $551.00 to $490.00 and set a “neutral” rating for the company in a report on Monday, March 10th. Jefferies Financial Group cut their price objective on shares of Adobe from $700.00 to $650.00 and set a “buy” rating for the company in a report on Thursday, December 12th. KeyCorp upgraded Adobe from an “underweight” rating to a “sector weight” rating in a research report on Friday, March 21st. BMO Capital Markets cut their price target on Adobe from $515.00 to $495.00 and set an “outperform” rating for the company in a research note on Thursday, March 13th. Finally, StockNews.com lowered Adobe from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 4th. Eleven analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Adobe currently has a consensus rating of “Moderate Buy” and a consensus target price of $538.80.

About Adobe

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.