Brady Martz Wealth Solutions LLC Invests $371,000 in Adobe Inc. (NASDAQ:ADBE)

Brady Martz Wealth Solutions LLC acquired a new stake in Adobe Inc. (NASDAQ:ADBE) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 899 shares of the software company’s stock, valued at approximately $371,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ADBE. Commonwealth Financial Services LLC raised its holdings in shares of Adobe by 3.7% during the second quarter. Commonwealth Financial Services LLC now owns 537 shares of the software company’s stock valued at $309,000 after buying an additional 19 shares during the last quarter. Onyx Bridge Wealth Group LLC boosted its position in Adobe by 4.0% during the 3rd quarter. Onyx Bridge Wealth Group LLC now owns 526 shares of the software company’s stock worth $272,000 after acquiring an additional 20 shares during the period. Connable Office Inc. boosted its position in Adobe by 0.5% during the 3rd quarter. Connable Office Inc. now owns 3,732 shares of the software company’s stock worth $1,932,000 after acquiring an additional 20 shares during the period. 1ST Source Bank grew its stake in shares of Adobe by 0.7% in the third quarter. 1ST Source Bank now owns 2,889 shares of the software company’s stock worth $1,496,000 after purchasing an additional 20 shares in the last quarter. Finally, Sfmg LLC increased its holdings in shares of Adobe by 3.1% during the second quarter. Sfmg LLC now owns 708 shares of the software company’s stock valued at $393,000 after purchasing an additional 21 shares during the period. 81.79% of the stock is owned by institutional investors and hedge funds.

Adobe Stock Up 0.7 %

Shares of Adobe stock opened at $429.99 on Friday. Adobe Inc. has a 1 year low of $403.75 and a 1 year high of $638.25. The company has a market cap of $189.28 billion, a P/E ratio of 34.68, a P/E/G ratio of 1.97 and a beta of 1.31. The company has a current ratio of 1.07, a quick ratio of 1.11 and a debt-to-equity ratio of 0.29. The stock has a 50-day moving average price of $476.55 and a 200 day moving average price of $512.82.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.67 by $0.14. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The business had revenue of $5.61 billion during the quarter, compared to analyst estimates of $5.54 billion. The firm’s revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.52 earnings per share. As a group, analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on ADBE shares. Mizuho reduced their price objective on shares of Adobe from $640.00 to $620.00 and set an “outperform” rating for the company in a report on Thursday, December 12th. Barclays reduced their price target on shares of Adobe from $675.00 to $645.00 and set an “overweight” rating for the company in a research note on Thursday, December 12th. TD Cowen lowered shares of Adobe from a “buy” rating to a “hold” rating and lowered their price objective for the company from $625.00 to $550.00 in a research note on Thursday, December 12th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $475.00 target price (down from $600.00) on shares of Adobe in a research report on Wednesday, January 8th. Finally, DA Davidson lowered their price target on Adobe from $685.00 to $625.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $573.00.

Insider Transactions at Adobe

In other Adobe news, Director Amy Banse sold 606 shares of Adobe stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $550.00, for a total value of $333,300.00. Following the completion of the sale, the director now directly owns 32,929 shares in the company, valued at $18,110,950. The trade was a 1.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Jillian Forusz sold 676 shares of the stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $484.97, for a total transaction of $327,839.72. Following the transaction, the chief accounting officer now owns 2,715 shares in the company, valued at approximately $1,316,693.55. This trade represents a 19.94 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,763 shares of company stock valued at $893,665. 0.15% of the stock is owned by 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.