MBM Wealth Consultants LLC Has $1.19 Million Stock Position in Adobe Inc. (NASDAQ:ADBE)

MBM Wealth Consultants LLC lifted its holdings in Adobe Inc. (NASDAQ:ADBEFree Report) by 4.4% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,700 shares of the software company’s stock after acquiring an additional 114 shares during the period. MBM Wealth Consultants LLC’s holdings in Adobe were worth $1,190,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Public Sector Pension Investment Board raised its holdings in Adobe by 71.1% in the 2nd quarter. Public Sector Pension Investment Board now owns 17,222 shares of the software company’s stock valued at $9,568,000 after acquiring an additional 7,155 shares in the last quarter. Magnetar Financial LLC acquired a new position in Adobe in the second quarter valued at about $597,000. Providence Capital Advisors LLC raised its stake in Adobe by 38.8% in the second quarter. Providence Capital Advisors LLC now owns 15,222 shares of the software company’s stock valued at $8,456,000 after purchasing an additional 4,255 shares in the last quarter. Mill Creek Capital Advisors LLC bought a new stake in Adobe during the second quarter worth about $220,000. Finally, Semmax Financial Advisors Inc. grew its stake in Adobe by 19.1% during the second quarter. Semmax Financial Advisors Inc. now owns 4,650 shares of the software company’s stock worth $2,489,000 after buying an additional 747 shares in the last quarter. 81.79% of the stock is owned by institutional investors.

Adobe Price Performance

ADBE stock opened at $436.36 on Wednesday. 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 company’s fifty day simple moving average is $475.06 and its 200 day simple moving average is $511.05. Adobe Inc. has a 12-month low of $403.75 and a 12-month high of $638.25. The firm has a market cap of $189.95 billion, a price-to-earnings ratio of 35.19, a PEG ratio of 2.08 and a beta of 1.31.

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

Insider Activity

In other Adobe news, CAO Jillian Forusz sold 676 shares of the stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $484.97, for a total value 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 represents a 19.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Scott Belsky sold 481 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $483.42, for a total value of $232,525.02. Following the sale, the executive vice president now owns 18,128 shares of the company’s stock, valued at approximately $8,763,437.76. This represents a 2.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,763 shares of company stock worth $893,665 in the last quarter. 0.15% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently commented on ADBE. Wells Fargo & Company dropped their target price on shares of Adobe from $700.00 to $640.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $475.00 price objective (down from $600.00) on shares of Adobe in a research note on Wednesday, January 8th. JMP Securities restated a “market perform” rating on shares of Adobe in a research note on Thursday, December 12th. Bank of America decreased their price target on Adobe from $640.00 to $605.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. Finally, StockNews.com downgraded Adobe from a “strong-buy” rating to a “buy” rating in a research report on Monday. One analyst has rated the stock with a sell rating, ten have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $573.00.

Check Out Our Latest Research Report on Adobe

Adobe Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Adobe (NASDAQ:ADBE)

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