Roberts Glore & Co. Inc. IL Makes New Investment in Adobe Inc. (NASDAQ:ADBE)

Roberts Glore & Co. Inc. IL bought a new position in Adobe Inc. (NASDAQ:ADBE) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 1,157 shares of the software company’s stock, valued at approximately $514,000.

Several other institutional investors and hedge funds have also bought and sold shares of ADBE. Proficio Capital Partners LLC lifted its stake in Adobe by 82,528.8% in the 4th quarter. Proficio Capital Partners LLC now owns 1,042,775 shares of the software company’s stock worth $463,701,000 after purchasing an additional 1,041,513 shares in the last quarter. FMR LLC increased its holdings 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 buying an additional 787,356 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Adobe in the 4th quarter worth $243,827,000. Assenagon Asset Management S.A. increased its holdings in shares of Adobe by 42.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,168,584 shares of the software company’s stock worth $519,646,000 after buying an additional 347,536 shares during the last quarter. Finally, Seilern Investment Management Ltd bought a new position in shares of Adobe in the 4th quarter worth $110,744,000. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Adobe

In other Adobe news, Director David A. Ricks purchased 2,250 shares of the stock in a transaction that occurred on Tuesday, January 28th. The stock was bought at an average cost of $443.98 per share, with a total value of $998,955.00. Following the transaction, the director now directly owns 4,984 shares in the company, valued at approximately $2,212,796.32. The trade was a 82.30 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Scott Belsky sold 922 shares of Adobe stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $437.28, for a total transaction of $403,172.16. Following the transaction, the executive vice president now directly owns 22,153 shares of the company’s stock, valued at approximately $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 sold 5,075 shares of company stock valued at $2,191,826. Company insiders own 0.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on ADBE shares. Redburn Atlantic started coverage on shares of Adobe in a report on Wednesday, February 19th. They issued a “neutral” rating on the stock. Piper Sandler decreased their price target on shares of Adobe from $635.00 to $600.00 and set an “overweight” rating on the stock in a report on Thursday, December 12th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $475.00 price target (down previously from $600.00) on shares of Adobe in a report on Wednesday, January 8th. Jefferies Financial Group decreased their price target on shares of Adobe from $700.00 to $650.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Finally, Oppenheimer decreased their price target on shares of Adobe from $625.00 to $600.00 and set an “outperform” rating on the stock in a report on Thursday, December 12th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Adobe presently has an average rating of “Moderate Buy” and an average price target of $567.81.

Adobe Trading Up 1.0 %

NASDAQ:ADBE opened at $449.40 on Friday. The company has a 50-day moving average price of $439.56 and a 200-day moving average price of $487.15. Adobe Inc. has a 12 month low of $403.75 and a 12 month high of $587.75. 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 has a market cap of $195.62 billion, a price-to-earnings ratio of 36.24, a P/E/G ratio of 2.15 and a beta of 1.37.

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