Adobe Inc. (NASDAQ:ADBE) Shares Bought by Howard Financial Services LTD.

Howard Financial Services LTD. raised its holdings in Adobe Inc. (NASDAQ:ADBE) by 17.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 575 shares of the software company’s stock after purchasing an additional 86 shares during the period. Howard Financial Services LTD.’s holdings in Adobe were worth $221,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Copia Wealth Management acquired a new stake in Adobe in the fourth quarter valued at approximately $28,000. SWAN Capital LLC purchased a new position in shares of Adobe in the fourth quarter valued at approximately $28,000. Summit Securities Group LLC purchased a new position in shares of Adobe in the fourth quarter valued at approximately $31,000. Caitlin John LLC lifted 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 acquiring an additional 48 shares in the last quarter. Finally, Bernard Wealth Management Corp. purchased a new position in shares of Adobe in the fourth quarter valued at approximately $36,000. 81.79% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Daniel Durn acquired 1,300 shares of the company’s stock in a transaction dated Thursday, March 20th. The stock was acquired at an average cost of $390.58 per share, with a total value of $507,754.00. Following the completion of the purchase, the chief financial officer now owns 29,876 shares of the company’s stock, valued at $11,668,968.08. This represents a 4.55% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

ADBE has been the topic of several research reports. Wells Fargo & Company decreased their target price on Adobe from $600.00 to $430.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 22nd. KeyCorp upgraded Adobe from an “underweight” rating to a “sector weight” rating in a research report on Friday, March 21st. Stifel Nicolaus decreased their target price on Adobe from $600.00 to $525.00 and set a “buy” rating on the stock in a research report on Thursday, March 13th. Jefferies Financial Group decreased their target price on Adobe from $650.00 to $590.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. Finally, Citigroup reduced their price objective on Adobe from $551.00 to $490.00 and set a “neutral” rating on the stock in a research report on Monday, March 10th. Eleven equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $502.88.

Adobe Price Performance

NASDAQ:ADBE opened at $413.36 on Friday. Adobe Inc. has a 52 week low of $332.01 and a 52 week high of $587.75. 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 stock’s fifty day moving average is $378.87 and its two-hundred day moving average is $429.47. The company has a market capitalization of $176.17 billion, a P/E ratio of 33.34, a P/E/G ratio of 2.15 and a beta of 1.55.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings data on Wednesday, March 12th. The software company reported $5.08 earnings per share for the quarter, beating analysts’ consensus estimates of $4.97 by $0.11. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The business had revenue of $5.71 billion during the quarter, compared to analysts’ expectations of $5.66 billion. During the same period in the previous year, the firm posted $4.48 earnings per share. Equities analysts expect 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.