Adobe Inc. (NASDAQ:ADBE) Shares Purchased by Integrated Investment Consultants LLC

Integrated Investment Consultants LLC grew its stake in Adobe Inc. (NASDAQ:ADBE) by 4.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 657 shares of the software company’s stock after purchasing an additional 25 shares during the quarter. Integrated Investment Consultants LLC’s holdings in Adobe were worth $292,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of ADBE. Legacy Investment Solutions LLC acquired a new stake in Adobe during the third quarter worth about $26,000. Piscataqua Savings Bank grew its position in Adobe by 226.7% in the 3rd quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock worth $25,000 after purchasing an additional 34 shares during the last quarter. MidAtlantic Capital Management Inc. bought a new position in Adobe in the 3rd quarter worth about $30,000. True Wealth Design LLC grew its position in Adobe by 141.7% in the 3rd quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock worth $30,000 after purchasing an additional 34 shares during the last quarter. Finally, Briaud Financial Planning Inc bought a new position in Adobe in the 3rd quarter worth about $36,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on ADBE shares. Sanford C. Bernstein decreased their price objective on shares of Adobe from $644.00 to $587.00 and set an “outperform” rating for the company in a report on Thursday, December 12th. DA Davidson decreased their price objective on shares of Adobe from $685.00 to $625.00 and set a “buy” rating for the company in a report on Thursday, December 12th. Mizuho decreased their price objective on shares of Adobe from $640.00 to $620.00 and set an “outperform” rating for the company in a report on Thursday, December 12th. Wells Fargo & Company cut their target price on shares of Adobe from $700.00 to $640.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Finally, StockNews.com raised shares of Adobe from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Adobe has a consensus rating of “Moderate Buy” and a consensus target price of $573.00.

Adobe Price Performance

NASDAQ:ADBE opened at $429.99 on Friday. The company has a 50-day moving average of $476.55 and a 200-day moving average of $512.82. The company has a market capitalization of $189.28 billion, a price-to-earnings ratio of 34.68, a PEG ratio of 1.97 and a beta of 1.31. Adobe Inc. has a 52 week low of $403.75 and a 52 week high of $638.25. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.11 and a current ratio of 1.07.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.67 by $0.14. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The firm had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.54 billion. During the same period last year, the firm posted $3.52 EPS. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. As a group, equities research analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Insider Buying and Selling at Adobe

In other news, Director Amy Banse sold 606 shares of Adobe stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $550.00, for a total transaction of $333,300.00. Following the completion of the sale, the director now owns 32,929 shares in the company, valued at $18,110,950. The trade was a 1.81 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Jillian Forusz sold 676 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $484.97, for a total transaction of $327,839.72. Following the transaction, the chief accounting officer now owns 2,715 shares of the company’s stock, valued at approximately $1,316,693.55. This represents a 19.94 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,763 shares of company stock worth $893,665. 0.15% of the stock is currently owned by corporate insiders.

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.