Adobe Inc. (NASDAQ:ADBE) Shares Purchased by MML Investors Services LLC

MML Investors Services LLC grew its position in shares of Adobe Inc. (NASDAQ:ADBE) by 40.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 126,039 shares of the software company’s stock after acquiring an additional 35,992 shares during the quarter. MML Investors Services LLC’s holdings in Adobe were worth $56,047,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of ADBE. Nordea Investment Management AB grew its position in Adobe by 2.0% in the 4th quarter. Nordea Investment Management AB now owns 1,712,616 shares of the software company’s stock worth $765,094,000 after purchasing an additional 33,414 shares during the last quarter. Arizona State Retirement System grew its holdings in Adobe by 0.4% in the 4th quarter. Arizona State Retirement System now owns 127,696 shares of the software company’s stock worth $56,784,000 after buying an additional 570 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Adobe by 1.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 99,150 shares of the software company’s stock valued at $44,090,000 after acquiring an additional 1,326 shares during the period. M. Kraus & Co bought a new stake in Adobe during the 4th quarter valued at $3,285,000. Finally, Silicon Valley Capital Partners grew its stake in shares of Adobe by 4.1% in the fourth quarter. Silicon Valley Capital Partners now owns 5,972 shares of the software company’s stock worth $2,656,000 after purchasing an additional 236 shares in the last quarter. Institutional investors own 81.79% of the company’s stock.

Adobe Stock Performance

ADBE stock opened at $348.80 on Friday. The firm has a 50 day simple moving average of $403.54 and a 200 day simple moving average of $450.04. Adobe Inc. has a 52 week low of $332.01 and a 52 week high of $587.75. The stock has a market cap of $148.66 billion, a P/E ratio of 28.13, a P/E/G ratio of 2.15 and a beta of 1.49. 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 issued 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. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The company had revenue of $5.71 billion during the quarter, compared to analyst estimates of $5.66 billion. During the same quarter last year, the business posted $4.48 EPS. Research analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company cut their price objective on shares of Adobe from $640.00 to $600.00 and set an “overweight” rating on the stock in a research note on Friday, March 7th. Mizuho reduced their price target on shares of Adobe from $620.00 to $575.00 and set an “outperform” rating for the company in a research note on Thursday, March 13th. 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. Royal Bank of Canada cut their target price on Adobe from $530.00 to $480.00 and set an “outperform” rating for the company in a research report on Monday, April 14th. Finally, Redburn Atlantic assumed coverage on Adobe in a research note on Wednesday, February 19th. They issued a “neutral” rating on the stock. Eleven investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $513.27.

Insiders Place Their Bets

In other Adobe news, CFO Daniel Durn bought 1,300 shares of the firm’s stock in a transaction on 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 directly owns 29,876 shares of the company’s stock, valued at approximately $11,668,968.08. The trade was a 4.55 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Jillian Forusz sold 334 shares of the firm’s stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $435.83, for a total transaction 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 a total of 5,075 shares of company stock valued at $2,191,826 in the last three months. Insiders own 0.16% of the company’s stock.

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.