Adobe Inc. (NASDAQ:ADBE) Shares Purchased by Terra Alpha Investments LLC

Terra Alpha Investments LLC increased its position in shares of Adobe Inc. (NASDAQ:ADBE) by 4.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,207 shares of the software company’s stock after purchasing an additional 190 shares during the period. Adobe accounts for about 1.8% of Terra Alpha Investments LLC’s holdings, making the stock its 23rd biggest holding. Terra Alpha Investments LLC’s holdings in Adobe were worth $1,614,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC increased its stake in Adobe by 2.1% during the fourth quarter. Brighton Jones LLC now owns 8,068 shares of the software company’s stock worth $3,588,000 after acquiring an additional 167 shares during the last quarter. Union Bancaire Privee UBP SA acquired a new stake in shares of Adobe during the 4th quarter worth about $76,712,000. Vest Financial LLC raised its holdings in Adobe by 13.7% in the 4th quarter. Vest Financial LLC now owns 2,593 shares of the software company’s stock valued at $1,153,000 after buying an additional 312 shares during the period. Empowered Funds LLC lifted its position in Adobe by 22.8% in the fourth quarter. Empowered Funds LLC now owns 15,391 shares of the software company’s stock valued at $6,844,000 after buying an additional 2,853 shares during the last quarter. Finally, Kestra Private Wealth Services LLC lifted its position in Adobe by 2.4% in the fourth quarter. Kestra Private Wealth Services LLC now owns 13,271 shares of the software company’s stock valued at $5,901,000 after buying an additional 308 shares during the last quarter. 81.79% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Adobe

In other news, CFO Daniel Durn bought 1,300 shares of the firm’s stock in a transaction that occurred on Thursday, March 20th. The stock was purchased at an average cost of $390.58 per share, with a total value of $507,754.00. Following the transaction, the chief financial officer now directly owns 29,876 shares in the company, valued at $11,668,968.08. This trade represents a 4.55% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.16% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ADBE. JPMorgan Chase & Co. reduced their price target on shares of Adobe from $580.00 to $540.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Redburn Atlantic assumed coverage on Adobe in a research report on Wednesday, February 19th. They issued a “neutral” rating on the stock. Evercore ISI decreased their price target on Adobe from $650.00 to $550.00 and set an “outperform” rating on the stock in a research note on Thursday, March 13th. Oppenheimer cut their price objective on Adobe from $560.00 to $530.00 and set an “outperform” rating on the stock in a report on Thursday, March 13th. Finally, Jefferies Financial Group lowered their target price on Adobe from $650.00 to $590.00 and set a “buy” rating for the company in a report on Monday, March 31st. Eleven investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $504.81.

Adobe Trading Down 0.2%

ADBE opened at $416.26 on Tuesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07. Adobe Inc. has a one year low of $332.01 and a one year high of $587.75. The company has a market cap of $177.41 billion, a P/E ratio of 33.57, a PEG ratio of 2.15 and a beta of 1.55. The business’s 50-day simple moving average is $382.02 and its 200-day simple moving average is $423.49.

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