Conscious Wealth Investments LLC Acquires 416 Shares of Adobe Inc. (NASDAQ:ADBE)

Conscious Wealth Investments LLC grew its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 8.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 5,101 shares of the software company’s stock after purchasing an additional 416 shares during the period. Conscious Wealth Investments LLC’s holdings in Adobe were worth $2,193,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in ADBE. State Street Corp raised its stake in Adobe by 1.2% during the third quarter. State Street Corp now owns 20,270,287 shares of the software company’s stock valued at $10,495,544,000 after buying an additional 234,909 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Adobe by 1.4% during the third quarter. Geode Capital Management LLC now owns 10,529,089 shares of the software company’s stock valued at $5,435,377,000 after acquiring an additional 147,981 shares in the last quarter. FMR LLC raised its position in shares of Adobe by 8.8% in the 3rd quarter. FMR LLC now owns 9,690,163 shares of the software company’s stock worth $5,017,373,000 after purchasing an additional 787,356 shares during the last quarter. Fisher Asset Management LLC boosted its stake in Adobe by 2.0% in the 3rd quarter. Fisher Asset Management LLC now owns 4,859,584 shares of the software company’s stock worth $2,516,196,000 after purchasing an additional 93,143 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Adobe by 3.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,741,549 shares of the software company’s stock valued at $2,455,079,000 after purchasing an additional 140,390 shares during the last quarter. 81.79% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Bank of America dropped their target price on shares of Adobe from $640.00 to $605.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. BMO Capital Markets lowered their price objective on Adobe from $570.00 to $515.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. Oppenheimer reduced their target price on Adobe from $625.00 to $600.00 and set an “outperform” rating for the company in a report on Thursday, December 12th. DA Davidson lowered their price target on Adobe from $685.00 to $625.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $590.00 price objective on shares of Adobe in a research report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Adobe has a consensus rating of “Moderate Buy” and an average price target of $570.88.

Insider Buying and Selling

In other news, CAO Jillian Forusz sold 334 shares of Adobe stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $435.83, for a total transaction of $145,567.22. Following the sale, the chief accounting officer now 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Scott Belsky sold 3,819 shares of the business’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $430.24, for a total transaction of $1,643,086.56. Following the completion of the transaction, the executive vice president now directly owns 18,334 shares in the company, valued at $7,888,020.16. This trade represents a 17.24 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,681 shares of company stock valued at $2,525,126. Company insiders own 0.15% of the company’s stock.

Adobe Stock Down 2.3 %

ADBE stock opened at $444.32 on Monday. The business’s 50-day moving average price is $440.46 and its 200-day moving average price is $493.88. The stock has a market cap of $193.41 billion, a P/E ratio of 35.83, a PEG ratio of 2.20 and a beta of 1.31. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29. Adobe Inc. has a twelve month low of $403.75 and a twelve month high of $587.75.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share for the quarter, beating the consensus estimate of $4.67 by $0.14. The business had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $5.54 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.52 earnings per share. On average, equities research analysts forecast that Adobe Inc. will post 16.65 EPS for the current year.

Adobe Company 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.