D Orazio & Associates Inc. Purchases 40 Shares of Adobe Inc. (NASDAQ:ADBE)

D Orazio & Associates Inc. grew its position in shares of Adobe Inc. (NASDAQ:ADBE) by 3.9% during the 1st quarter, Holdings Channel.com reports. The firm owned 1,072 shares of the software company’s stock after acquiring an additional 40 shares during the period. D Orazio & Associates Inc.’s holdings in Adobe were worth $411,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Brighton Jones LLC lifted its stake in shares of Adobe by 2.1% in the 4th quarter. Brighton Jones LLC now owns 8,068 shares of the software company’s stock valued at $3,588,000 after acquiring an additional 167 shares during the last quarter. Union Bancaire Privee UBP SA bought a new stake in Adobe in the fourth quarter valued at approximately $76,712,000. Root Financial Partners LLC grew its holdings in shares of Adobe by 40.9% in the fourth quarter. Root Financial Partners LLC now owns 603 shares of the software company’s stock worth $268,000 after purchasing an additional 175 shares during the last quarter. Valeo Financial Advisors LLC increased its stake in shares of Adobe by 7.1% in the fourth quarter. Valeo Financial Advisors LLC now owns 7,919 shares of the software company’s stock worth $3,521,000 after buying an additional 523 shares during the period. Finally, Bank Pictet & Cie Europe AG raised its holdings in Adobe by 2.7% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 28,969 shares of the software company’s stock valued at $12,882,000 after buying an additional 756 shares during the last quarter. 81.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ADBE has been the topic of a number of recent analyst reports. UBS Group raised their price target on shares of Adobe from $380.00 to $430.00 and gave the stock a “neutral” rating in a report on Monday, June 9th. Morgan Stanley reduced their price target on Adobe from $600.00 to $510.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Piper Sandler lowered their price target on Adobe from $600.00 to $500.00 and set an “overweight” rating for the company in a research report on Wednesday, April 23rd. Royal Bank of Canada reissued an “outperform” rating and set a $480.00 target price on shares of Adobe in a research note on Thursday, June 5th. Finally, Wells Fargo & Company lifted their price target on shares of Adobe from $430.00 to $470.00 and gave the company an “overweight” rating in a report on Friday. Nine 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 company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $494.67.

Insider Buying and Selling

In other news, CFO Daniel Durn acquired 1,300 shares of the business’s stock in a transaction that occurred on Thursday, March 20th. The stock was bought at an average price of $390.58 per share, with a total value 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. The trade was a 4.55% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.16% of the stock is owned by corporate insiders.

Adobe Stock Performance

Shares of ADBE stock opened at $391.68 on Friday. The company has a market capitalization of $166.93 billion, a price-to-earnings ratio of 31.59, a price-to-earnings-growth ratio of 2.15 and a beta of 1.55. 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’s 50-day moving average is $386.76 and its 200 day moving average is $421.08.

Adobe (NASDAQ:ADBE) last issued its earnings results on Wednesday, March 12th. The software company reported $5.08 EPS for the quarter, beating the consensus estimate of $4.97 by $0.11. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The business had revenue of $5.71 billion for the quarter, compared to the consensus estimate of $5.66 billion. During the same period last year, the business posted $4.48 EPS. Sell-side 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.