524 Shares in Adobe Inc. (NASDAQ:ADBE) Bought by Moment Partners LLC

Moment Partners LLC acquired a new stake in Adobe Inc. (NASDAQ:ADBE) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 524 shares of the software company’s stock, valued at approximately $233,000.

A number of other large investors have also modified their holdings of ADBE. Legacy Investment Solutions LLC purchased a new position in shares of Adobe in the 3rd quarter valued at about $26,000. True Wealth Design LLC boosted its position in Adobe by 141.7% during the third quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock worth $30,000 after purchasing an additional 34 shares in the last quarter. Decker Retirement Planning Inc. acquired a new stake in Adobe in the fourth quarter valued at approximately $31,000. Caitlin John LLC increased its position 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 buying an additional 48 shares in the last quarter. Finally, Mascoma Wealth Management LLC raised its stake in shares of Adobe by 142.9% during the 4th quarter. Mascoma Wealth Management LLC now owns 85 shares of the software company’s stock worth $38,000 after buying an additional 50 shares during the period. Institutional investors and hedge funds own 81.79% of the company’s stock.

Insider Activity at Adobe

In other Adobe news, CAO Jillian Forusz sold 334 shares of Adobe stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $435.83, for a total transaction of $145,567.22. Following the completion of the sale, the chief accounting officer now directly owns 2,685 shares in the company, valued at $1,170,203.55. This trade represents a 11.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Scott Belsky sold 922 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $437.28, for a total transaction of $403,172.16. Following the completion of the sale, the executive vice president now directly owns 22,153 shares in the company, valued at $9,687,063.84. This trade represents a 4.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,075 shares of company stock worth $2,191,826. Company insiders own 0.16% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Mizuho dropped their price target on shares of Adobe from $620.00 to $575.00 and set an “outperform” rating on the stock in a research note on Thursday, March 13th. Oppenheimer dropped their target price on shares of Adobe from $560.00 to $530.00 and set an “outperform” rating on the stock in a research report on Thursday, March 13th. Sanford C. Bernstein reduced their price target on shares of Adobe from $644.00 to $587.00 and set an “outperform” rating for the company in a research report on Thursday, December 12th. Citigroup lowered their price objective on Adobe from $551.00 to $490.00 and set a “neutral” rating on the stock in a report on Monday, March 10th. Finally, KeyCorp raised Adobe from an “underweight” rating to a “sector weight” rating in a report on Friday, March 21st. Eleven analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Adobe has an average rating of “Moderate Buy” and an average target price of $533.85.

Adobe Stock Down 1.4 %

Shares of NASDAQ ADBE opened at $397.81 on Thursday. The company has a market capitalization of $173.21 billion, a P/E ratio of 32.08, a P/E/G ratio of 2.15 and a beta of 1.37. 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 company has a 50 day simple moving average of $433.31 and a 200-day simple moving average of $472.23. Adobe Inc. has a 1 year low of $374.50 and a 1 year high of $587.75.

Adobe (NASDAQ:ADBE) last posted its earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $5.66 billion. During the same quarter last year, the firm earned $4.48 earnings per share. On average, equities research analysts predict that Adobe Inc. will post 16.65 earnings per share for the current year.

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.