Adobe Inc. (NASDAQ:ADBE) Shares Acquired by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC increased its stake in Adobe Inc. (NASDAQ:ADBE) by 13.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 111,155 shares of the software company’s stock after purchasing an additional 13,331 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Adobe were worth $49,429,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Siemens Fonds Invest GmbH lifted its holdings in Adobe by 252.9% in the 4th quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company’s stock valued at $25,000 after acquiring an additional 39,888 shares during the last quarter. SWAN Capital LLC acquired a new stake in Adobe in the 4th quarter valued at about $28,000. Copia Wealth Management acquired a new stake in Adobe in the 4th quarter valued at about $28,000. Summit Securities Group LLC acquired a new stake in Adobe in the 4th quarter valued at about $31,000. Finally, Caitlin John LLC lifted its holdings in 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 during the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Insider Buying and Selling at Adobe

In other Adobe news, CFO Daniel Durn acquired 1,300 shares of Adobe stock in a transaction dated Thursday, March 20th. The stock was bought at an average cost of $390.58 per share, with a total value of $507,754.00. Following the completion of the transaction, the chief financial officer now owns 29,876 shares of the company’s stock, valued at $11,668,968.08. The trade was a 4.55% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.16% of the company’s stock.

Adobe Trading Down 0.2%

NASDAQ:ADBE opened at $412.23 on Thursday. The stock’s 50 day moving average price is $378.50 and its 200 day moving average price is $430.10. Adobe Inc. has a 52 week low of $332.01 and a 52 week high of $587.75. The company has a market capitalization of $175.69 billion, a P/E ratio of 33.24, a P/E/G ratio of 2.15 and a beta of 1.55. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on ADBE shares. Stifel Nicolaus cut their price target on shares of Adobe from $600.00 to $525.00 and set a “buy” rating for the company in a report on Thursday, March 13th. Piper Sandler reduced their price objective on shares of Adobe from $600.00 to $500.00 and set an “overweight” rating for the company in a research note on Wednesday, April 23rd. Robert W. Baird reduced their price objective on shares of Adobe from $490.00 to $410.00 and set a “neutral” rating for the company in a research note on Wednesday, March 19th. UBS Group reduced their price objective on shares of Adobe from $410.00 to $380.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Finally, Wells Fargo & Company reduced their price objective on shares of Adobe from $600.00 to $430.00 and set an “overweight” rating for the company in a research note on Tuesday, April 22nd. Eleven investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $502.88.

About Adobe

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.