Adobe Inc. (NASDAQ:ADBE) Shares Purchased by Voya Financial Advisors Inc.

Voya Financial Advisors Inc. raised its stake in Adobe Inc. (NASDAQ:ADBE) by 27.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 4,726 shares of the software company’s stock after purchasing an additional 1,004 shares during the quarter. Voya Financial Advisors Inc.’s holdings in Adobe were worth $2,107,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Decker Retirement Planning Inc. acquired a new position in Adobe in the 4th quarter valued at about $31,000. Summit Securities Group LLC purchased a new position in shares of Adobe in the 4th quarter valued at approximately $31,000. Caitlin John LLC increased its holdings in shares of Adobe by 171.4% in the fourth quarter. Caitlin John LLC now owns 76 shares of the software company’s stock valued at $34,000 after purchasing an additional 48 shares during the period. Avion Wealth raised its stake in shares of Adobe by 112.2% during the fourth quarter. Avion Wealth now owns 87 shares of the software company’s stock worth $38,000 after purchasing an additional 46 shares during the last quarter. Finally, Mascoma Wealth Management LLC lifted its holdings in shares of 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 purchasing an additional 50 shares during the period. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Analyst Upgrades and Downgrades

ADBE has been the topic of a number of recent analyst reports. Redburn Atlantic began coverage on Adobe in a report on Wednesday, February 19th. They set a “neutral” rating on the stock. Citigroup lowered their price target on shares of Adobe from $551.00 to $490.00 and set a “neutral” rating on the stock in a research note on Monday, March 10th. Robert W. Baird decreased their price objective on shares of Adobe from $490.00 to $410.00 and set a “neutral” rating on the stock in a report on Wednesday, March 19th. StockNews.com cut shares of Adobe from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 4th. Finally, Stifel Nicolaus decreased their price target on Adobe from $600.00 to $525.00 and set a “buy” rating on the stock in a research note on Thursday, March 13th. 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. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $502.88.

Adobe Price Performance

Shares of ADBE opened at $360.91 on Friday. The company’s 50-day moving average is $394.82 and its 200-day moving average is $446.30. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. The firm has a market capitalization of $153.82 billion, a PE ratio of 29.11, a PEG ratio of 2.15 and a beta of 1.49. Adobe Inc. has a fifty-two week low of $332.01 and a fifty-two week high of $587.75.

Adobe (NASDAQ:ADBE) last announced its earnings results on Wednesday, March 12th. The software company reported $5.08 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $5.66 billion. During the same period last year, the firm earned $4.48 earnings per share. Equities analysts forecast that Adobe Inc. will post 16.65 EPS for the current year.

Insider Activity at Adobe

In related news, CAO Jillian Forusz sold 334 shares of the company’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total transaction of $145,567.22. Following the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Daniel Durn bought 1,300 shares of the firm’s stock in a transaction that occurred on Thursday, March 20th. The stock was purchased 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 in the company, valued at $11,668,968.08. This represents a 4.55 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.16% of the stock is owned by company insiders.

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.