Adobe Inc. (NASDAQ:ADBE) Shares Purchased by Strategic Investment Solutions Inc. IL

Strategic Investment Solutions Inc. IL raised its stake in Adobe Inc. (NASDAQ:ADBE) by 755.6% during the fourth quarter, Holdings Channel reports. The firm owned 154 shares of the software company’s stock after purchasing an additional 136 shares during the period. Strategic Investment Solutions Inc. IL’s holdings in Adobe were worth $72,000 at the end of the most recent quarter.

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

Insider Transactions at Adobe

In other Adobe news, CFO Daniel Durn bought 1,300 shares of Adobe stock in a transaction dated Thursday, March 20th. The stock was bought at an average price of $390.58 per share, for a total transaction 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. This trade represents a 4.55 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Jillian Forusz sold 334 shares of Adobe stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $435.83, for a total value of $145,567.22. Following the transaction, the chief accounting officer now owns 2,685 shares in the company, valued at $1,170,203.55. This represents a 11.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,075 shares of company stock valued at $2,191,826 in the last quarter. Insiders own 0.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. decreased their price target on shares of Adobe from $580.00 to $540.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. StockNews.com downgraded Adobe from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 4th. Stifel Nicolaus decreased their price target on Adobe from $600.00 to $525.00 and set a “buy” rating for the company in a report on Thursday, March 13th. UBS Group reduced their target price on shares of Adobe from $410.00 to $380.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Finally, Evercore ISI lowered their price target on shares of Adobe from $650.00 to $550.00 and set an “outperform” rating for the company in a report on Thursday, March 13th. Eleven investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $513.27.

Adobe Price Performance

Shares of NASDAQ:ADBE opened at $344.19 on Thursday. The firm’s 50 day moving average is $407.79 and its two-hundred day moving average is $452.66. The firm has a market capitalization of $146.69 billion, a P/E ratio of 27.76, a PEG ratio of 2.15 and a beta of 1.49. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29. Adobe Inc. has a 52 week low of $332.01 and a 52 week high of $587.75.

Adobe (NASDAQ:ADBE) last announced its earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.97 by $0.11. The firm had revenue of $5.71 billion during the quarter, compared to analyst estimates of $5.66 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. During the same quarter in the prior year, the firm posted $4.48 EPS. Analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current 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.