904 Shares in Adobe Inc. (NASDAQ:ADBE) Bought by Rossby Financial LCC

Rossby Financial LCC bought a new stake in shares of Adobe Inc. (NASDAQ:ADBE) in the 4th quarter, HoldingsChannel.com reports. The firm bought 904 shares of the software company’s stock, valued at approximately $402,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Decker Retirement Planning Inc. purchased a new stake in Adobe during the fourth quarter valued at about $31,000. Summit Securities Group LLC acquired a new stake in shares of Adobe during the fourth quarter valued at approximately $31,000. Caitlin John LLC lifted its position in shares of Adobe by 171.4% in the 4th quarter. Caitlin John LLC now owns 76 shares of the software company’s stock valued at $34,000 after acquiring an additional 48 shares in the last quarter. Mascoma Wealth Management LLC boosted its stake in Adobe by 142.9% in the 4th quarter. Mascoma Wealth Management LLC now owns 85 shares of the software company’s stock worth $38,000 after purchasing an additional 50 shares during the period. Finally, LFA Lugano Financial Advisors SA acquired a new position in Adobe in the 4th quarter worth approximately $38,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Adobe Price Performance

Shares of Adobe stock opened at $350.91 on Tuesday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29. The firm has a fifty day simple moving average of $411.27 and a 200-day simple moving average of $454.13. The stock has a market capitalization of $149.56 billion, a price-to-earnings ratio of 28.30, a PEG ratio of 2.15 and a beta of 1.49. Adobe Inc. has a 1-year low of $332.01 and a 1-year high of $587.75.

Adobe (NASDAQ:ADBE) last released its earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share 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 firm had revenue of $5.71 billion during the quarter, compared to analyst estimates of $5.66 billion. During the same quarter in the previous year, the business earned $4.48 EPS. On average, sell-side analysts expect that Adobe Inc. will post 16.65 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently issued reports on ADBE. Mizuho reduced their target price on Adobe from $620.00 to $575.00 and set an “outperform” rating for the company in a report on Thursday, March 13th. JPMorgan Chase & Co. reduced their price objective on Adobe from $580.00 to $540.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Wells Fargo & Company lowered their target price on Adobe from $640.00 to $600.00 and set an “overweight” rating on the stock in a research note on Friday, March 7th. BMO Capital Markets dropped their target price on Adobe from $515.00 to $495.00 and set an “outperform” rating on the stock in a report on Thursday, March 13th. Finally, Summit Redstone set a $410.00 price target on shares of Adobe in a report on Wednesday, March 19th. Eleven equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $518.46.

Insider Buying and Selling

In other news, CAO Jillian Forusz sold 334 shares of the business’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $435.83, for a total transaction of $145,567.22. Following the transaction, the chief accounting officer now owns 2,685 shares in the company, valued at approximately $1,170,203.55. The trade was a 11.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Scott Belsky sold 3,819 shares of the stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $430.24, for a total transaction of $1,643,086.56. Following the completion of the sale, the executive vice president now owns 18,334 shares of the company’s stock, valued at approximately $7,888,020.16. The trade was a 17.24 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,075 shares of company stock valued at $2,191,826. Insiders own 0.16% of the company’s stock.

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.