Adobe Inc. (NASDAQ:ADBE) Shares Bought by Steward Partners Investment Advisory LLC

Steward Partners Investment Advisory LLC increased its stake in Adobe Inc. (NASDAQ:ADBE) by 1.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 33,372 shares of the software company’s stock after acquiring an additional 608 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Adobe were worth $14,840,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Proficio Capital Partners LLC increased its position in Adobe by 82,528.8% during the 4th quarter. Proficio Capital Partners LLC now owns 1,042,775 shares of the software company’s stock worth $463,701,000 after purchasing an additional 1,041,513 shares in the last quarter. FMR LLC grew its stake in Adobe by 8.8% during the third quarter. FMR LLC now owns 9,690,163 shares of the software company’s stock worth $5,017,373,000 after buying an additional 787,356 shares during the period. Assenagon Asset Management S.A. increased its position in shares of Adobe by 42.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,168,584 shares of the software company’s stock worth $519,646,000 after acquiring an additional 347,536 shares in the last quarter. Seilern Investment Management Ltd purchased a new position in shares of Adobe in the 4th quarter valued at $110,744,000. Finally, Erste Asset Management GmbH acquired a new position in shares of Adobe during the 3rd quarter valued at $126,703,000. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ADBE has been the subject of several recent research reports. Jefferies Financial Group lowered their price target on Adobe from $700.00 to $650.00 and set a “buy” rating for the company in a report on Thursday, December 12th. Piper Sandler lowered their target price on Adobe from $635.00 to $600.00 and set an “overweight” rating for the company in a research note on Thursday, December 12th. Royal Bank of Canada reissued an “outperform” rating and set a $590.00 price target on shares of Adobe in a research report on Thursday, February 13th. BMO Capital Markets decreased their price target on Adobe from $570.00 to $515.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $475.00 price objective (down previously from $600.00) on shares of Adobe in a research note on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $570.88.

Adobe Stock Up 1.2 %

NASDAQ:ADBE opened at $446.03 on Wednesday. The firm has a market capitalization of $194.16 billion, a PE ratio of 35.97, a price-to-earnings-growth ratio of 2.15 and a beta of 1.37. Adobe Inc. has a 52 week low of $403.75 and a 52 week high of $587.75. 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 stock has a 50 day moving average of $439.55 and a 200-day moving average of $489.03.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, topping analysts’ consensus estimates of $4.67 by $0.14. The firm had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.54 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The firm’s revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the business earned $3.52 EPS. Analysts predict that Adobe Inc. will post 16.65 EPS for the current year.

Insider Buying and Selling

In other Adobe news, Director David A. Ricks purchased 2,250 shares of the firm’s stock in a transaction dated Tuesday, January 28th. The stock was bought at an average price of $443.98 per share, with a total value of $998,955.00. Following the completion of the purchase, the director now owns 4,984 shares in the company, valued at $2,212,796.32. This trade represents a 82.30 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Scott Belsky sold 3,819 shares of Adobe 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 sale, the executive vice president now owns 18,334 shares in the company, valued at approximately $7,888,020.16. This represents a 17.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,681 shares of company stock valued at $2,525,126 in the last quarter. Company insiders own 0.15% 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.