Tlwm Acquires 185 Shares of Adobe Inc. (NASDAQ:ADBE)

Tlwm grew its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 8.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 2,352 shares of the software company’s stock after purchasing an additional 185 shares during the period. Tlwm’s holdings in Adobe were worth $1,046,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of ADBE. Commonwealth Financial Services LLC lifted its stake in Adobe by 3.7% during the 2nd quarter. Commonwealth Financial Services LLC now owns 537 shares of the software company’s stock valued at $309,000 after acquiring an additional 19 shares in the last quarter. Onyx Bridge Wealth Group LLC boosted its holdings in Adobe by 4.0% during the third quarter. Onyx Bridge Wealth Group LLC now owns 526 shares of the software company’s stock worth $272,000 after purchasing an additional 20 shares during the last quarter. Connable Office Inc. grew its position in Adobe by 0.5% in the 3rd quarter. Connable Office Inc. now owns 3,732 shares of the software company’s stock worth $1,932,000 after purchasing an additional 20 shares in the last quarter. 1ST Source Bank increased its stake in Adobe by 0.7% in the 3rd quarter. 1ST Source Bank now owns 2,889 shares of the software company’s stock valued at $1,496,000 after buying an additional 20 shares during the last quarter. Finally, Sfmg LLC lifted its position in shares of Adobe by 3.1% during the 2nd quarter. Sfmg LLC now owns 708 shares of the software company’s stock worth $393,000 after buying an additional 21 shares in the last quarter. 81.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ADBE. TD Cowen downgraded Adobe from a “buy” rating to a “hold” rating and decreased their price target for the company from $625.00 to $550.00 in a research report on Thursday, December 12th. JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a research report on Thursday, December 12th. Argus upgraded Adobe to a “strong-buy” rating in a research note on Monday, September 16th. UBS Group reduced their price target on shares of Adobe from $525.00 to $475.00 and set a “neutral” rating for the company in a research report on Friday, January 3rd. Finally, Stifel Nicolaus lowered their price objective on shares of Adobe from $650.00 to $600.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Adobe has a consensus rating of “Moderate Buy” and an average price target of $575.85.

Insider Buying and Selling at Adobe

In related news, EVP Scott Belsky sold 481 shares of the company’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $483.42, for a total transaction of $232,525.02. Following the completion of the sale, the executive vice president now directly owns 18,128 shares in the company, valued at $8,763,437.76. This represents a 2.58 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Jillian Forusz sold 676 shares of the firm’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $484.97, for a total transaction of $327,839.72. Following the completion of the sale, the chief accounting officer now directly owns 2,715 shares in the company, valued at approximately $1,316,693.55. This trade represents a 19.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,763 shares of company stock worth $893,665 over the last three months. Company insiders own 0.15% of the company’s stock.

Adobe Price Performance

Shares of Adobe stock opened at $408.50 on Tuesday. The firm has a market capitalization of $179.82 billion, a PE ratio of 32.94, a price-to-earnings-growth ratio of 2.51 and a beta of 1.31. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.28. Adobe Inc. has a 12 month low of $403.75 and a 12 month high of $638.25. The business’s 50-day moving average price is $482.55 and its 200-day moving average price is $516.02.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 earnings per share for the quarter, topping analysts’ consensus estimates of $4.67 by $0.14. Adobe had a net margin of 25.85% and a return on equity of 45.22%. The firm had revenue of $5.61 billion during the quarter, compared to analyst estimates of $5.54 billion. During the same period in the previous year, the business posted $3.52 EPS. The business’s quarterly revenue was up 11.1% on a year-over-year basis. Sell-side analysts forecast that Adobe Inc. will post 16.73 EPS for the current fiscal year.

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.