Bellwether Advisors LLC Purchases New Holdings in Adobe Inc. (NASDAQ:ADBE)

Bellwether Advisors LLC purchased a new stake in Adobe Inc. (NASDAQ:ADBE) in the 4th quarter, HoldingsChannel reports. The fund purchased 176 shares of the software company’s stock, valued at approximately $78,000.

Several other hedge funds have also made changes to their positions in the company. Decker Retirement Planning Inc. acquired a new position in Adobe in the 4th quarter valued at approximately $31,000. Summit Securities Group LLC acquired a new position in Adobe in the 4th quarter valued at approximately $31,000. Caitlin John LLC increased its stake 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 buying an additional 48 shares during the period. Avion Wealth increased its stake in Adobe by 112.2% in the 4th quarter. Avion Wealth now owns 87 shares of the software company’s stock valued at $38,000 after buying an additional 46 shares during the period. Finally, Mascoma Wealth Management LLC increased its stake in Adobe by 142.9% in the 4th quarter. Mascoma Wealth Management LLC now owns 85 shares of the software company’s stock valued at $38,000 after buying an additional 50 shares during the period. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Insider Transactions at Adobe

In related news, CFO Daniel Durn bought 1,300 shares of the company’s stock in a transaction dated Thursday, March 20th. The stock was acquired at an average cost of $390.58 per share, with a total value of $507,754.00. Following the acquisition, the chief financial officer now owns 29,876 shares in the company, valued at approximately $11,668,968.08. This represents a 4.55 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.16% of the stock is currently owned by insiders.

Adobe Trading Up 0.2 %

Adobe stock opened at $368.62 on Tuesday. The business has a 50 day moving average price of $391.12 and a two-hundred day moving average price of $443.78. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29. The stock has a market cap of $157.11 billion, a price-to-earnings ratio of 29.73, a price-to-earnings-growth ratio of 2.15 and a beta of 1.49. Adobe Inc. has a 12 month low of $332.01 and a 12 month high of $587.75.

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, topping analysts’ consensus estimates of $4.97 by $0.11. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The business had revenue of $5.71 billion during the quarter, compared to analysts’ expectations of $5.66 billion. During the same period in the prior year, the firm posted $4.48 EPS. As a group, equities analysts forecast that Adobe Inc. will post 16.65 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Redburn Atlantic assumed coverage on shares of Adobe in a research note on Wednesday, February 19th. They issued a “neutral” rating on the stock. Summit Redstone set a $410.00 price target on shares of Adobe in a research note on Wednesday, March 19th. Jefferies Financial Group dropped their price target on shares of Adobe from $650.00 to $590.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. Oppenheimer dropped their price target on shares of Adobe from $560.00 to $530.00 and set an “outperform” rating on the stock in a research note on Thursday, March 13th. Finally, KeyCorp upgraded shares of Adobe from an “underweight” rating to a “sector weight” rating in a research note on Friday, March 21st. Eleven research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Adobe presently has a consensus rating of “Moderate Buy” and a consensus target price of $502.88.

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.