Adobe Inc. (NASDAQ:ADBE) Shares Bought by LM Advisors LLC

LM Advisors LLC increased its position in Adobe Inc. (NASDAQ:ADBE) by 14.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 960 shares of the software company’s stock after buying an additional 123 shares during the quarter. LM Advisors LLC’s holdings in Adobe were worth $427,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Delta Asset Management LLC TN boosted its position in shares of Adobe by 3.7% in the 4th quarter. Delta Asset Management LLC TN now owns 24,907 shares of the software company’s stock valued at $11,076,000 after purchasing an additional 885 shares during the period. Loomis Sayles & Co. L P boosted its position in shares of Adobe by 7.2% in the fourth quarter. Loomis Sayles & Co. L P now owns 311,491 shares of the software company’s stock worth $138,514,000 after buying an additional 21,055 shares during the period. NEOS Investment Management LLC boosted its position in shares of Adobe by 24.1% in the fourth quarter. NEOS Investment Management LLC now owns 56,250 shares of the software company’s stock worth $25,013,000 after buying an additional 10,924 shares during the period. Godshalk Welsh Capital Management Inc. purchased a new position in shares of Adobe during the fourth quarter valued at $227,000. Finally, Moment Partners LLC acquired a new position in Adobe during the fourth quarter valued at $233,000. Institutional investors own 81.79% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Jillian Forusz sold 334 shares of the stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $435.83, for a total value of $145,567.22. Following the completion of the transaction, the chief accounting officer now owns 2,685 shares of the company’s stock, valued at $1,170,203.55. This represents a 11.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Daniel Durn acquired 1,300 shares of the firm’s stock in a transaction on Thursday, March 20th. The shares were bought at an average cost of $390.58 per share, for a total transaction of $507,754.00. Following the completion of the acquisition, the chief financial officer now directly owns 29,876 shares of the company’s stock, valued at approximately $11,668,968.08. This represents a 4.55 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders sold 5,075 shares of company stock worth $2,191,826. 0.16% of the stock is currently owned by company insiders.

Adobe Trading Down 0.4 %

Shares of ADBE stock opened at $396.15 on Friday. The firm has a market capitalization of $172.49 billion, a P/E ratio of 31.95, a price-to-earnings-growth ratio of 2.15 and a beta of 1.37. Adobe Inc. has a 1 year low of $374.50 and a 1 year high of $587.75. The firm’s fifty day simple moving average is $432.69 and its 200 day simple moving average is $471.70. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Wednesday, March 12th. The software company reported $5.08 earnings per share (EPS) for the quarter, topping 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 company had revenue of $5.71 billion for the quarter, compared to the consensus estimate of $5.66 billion. During the same quarter in the previous year, the firm posted $4.48 EPS. As a group, sell-side analysts predict that Adobe Inc. will post 16.65 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Sanford C. Bernstein lowered their target price on Adobe from $644.00 to $587.00 and set an “outperform” rating on the stock in a research note on Thursday, December 12th. BNP Paribas upgraded shares of Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 target price for the company in a research report on Wednesday, January 15th. Wells Fargo & Company lowered their price target on shares of Adobe from $640.00 to $600.00 and set an “overweight” rating on the stock in a report on Friday, March 7th. Bank of America dropped their price target on shares of Adobe from $605.00 to $528.00 and set a “buy” rating on the stock in a research note on Thursday, March 13th. Finally, JMP Securities restated a “market perform” rating on shares of Adobe in a research note on Thursday, December 12th. Eleven investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Adobe currently has an average rating of “Moderate Buy” and an average price target of $533.85.

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.