Adobe Inc. (NASDAQ:ADBE) Position Increased by Denver PWM LLC

Denver PWM LLC increased its position in shares of Adobe Inc. (NASDAQ:ADBE) by 71.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 173 shares of the software company’s stock after acquiring an additional 72 shares during the period. Denver PWM LLC’s holdings in Adobe were worth $77,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Legacy Investment Solutions LLC purchased a new stake in shares of Adobe during the third quarter worth $26,000. MidAtlantic Capital Management Inc. bought a new position in Adobe during the third quarter valued at about $30,000. True Wealth Design LLC raised its holdings in Adobe by 141.7% during the third quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock valued at $30,000 after buying an additional 34 shares in the last quarter. Briaud Financial Planning Inc bought a new position in Adobe during the third quarter valued at about $36,000. Finally, Decker Retirement Planning Inc. bought a new position in Adobe during the fourth quarter valued at about $31,000. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Adobe Stock Down 2.3 %

NASDAQ ADBE opened at $444.32 on Friday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29. The stock’s 50 day moving average is $440.46 and its two-hundred day moving average is $494.02. The company has a market capitalization of $193.41 billion, a price-to-earnings ratio of 35.83, a PEG ratio of 2.20 and a beta of 1.31. Adobe Inc. has a 1-year low of $403.75 and a 1-year high of $587.75.

Adobe (NASDAQ:ADBE) last posted its earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share (EPS) for the quarter, beating 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 company had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.54 billion. During the same quarter in the previous year, the company posted $3.52 earnings per share. Adobe’s quarterly revenue was up 11.1% compared to the same quarter last year. Equities analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Insider Activity

In other Adobe news, EVP Scott Belsky sold 3,819 shares of Adobe stock in a transaction on Monday, January 27th. The shares were sold at an average price of $430.24, for a total transaction of $1,643,086.56. Following the completion of the sale, the executive vice president now owns 18,334 shares of the company’s stock, valued at approximately $7,888,020.16. The trade was a 17.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Amy Banse sold 606 shares of Adobe stock in a transaction on Friday, December 6th. The stock was sold at an average price of $550.00, for a total transaction of $333,300.00. Following the sale, the director now directly owns 32,929 shares of the company’s stock, valued at $18,110,950. This represents a 1.81 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,681 shares of company stock worth $2,525,126. Insiders own 0.15% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Royal Bank of Canada restated an “outperform” rating and set a $590.00 target price on shares of Adobe in a report on Thursday, February 13th. DA Davidson cut their target price on Adobe from $685.00 to $625.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Redburn Atlantic assumed coverage on Adobe in a report on Wednesday. They set a “neutral” rating on the stock. StockNews.com lowered Adobe from a “strong-buy” rating to a “buy” rating in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $475.00 price target (down from $600.00) on shares of Adobe in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Adobe has an average rating of “Moderate Buy” and an average target price of $570.88.

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.