Centurion Wealth Management LLC Purchases 125 Shares of Adobe Inc. (NASDAQ:ADBE)

Centurion Wealth Management LLC grew its position in Adobe Inc. (NASDAQ:ADBE) by 12.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,106 shares of the software company’s stock after purchasing an additional 125 shares during the quarter. Centurion Wealth Management LLC’s holdings in Adobe were worth $492,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Legacy Investment Solutions LLC bought a new position in Adobe during the third quarter worth $26,000. Groupama Asset Managment increased its holdings in Adobe by 28.8% in the 3rd quarter. Groupama Asset Managment now owns 51,482 shares of the software company’s stock valued at $27,000 after buying an additional 11,522 shares during the period. MidAtlantic Capital Management Inc. bought a new stake in Adobe in the 3rd quarter valued at $30,000. True Wealth Design LLC increased its holdings in Adobe by 141.7% in the 3rd 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 during the period. Finally, Decker Retirement Planning Inc. bought a new stake in Adobe in the 4th quarter valued at $31,000. Institutional investors own 81.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on ADBE shares. Stifel Nicolaus lowered their price target on shares of Adobe from $600.00 to $525.00 and set a “buy” rating on the stock in a report on Thursday. Bank of America lowered their price target on shares of Adobe from $605.00 to $528.00 and set a “buy” rating on the stock in a report on Thursday. Piper Sandler lowered 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. JMP Securities restated a “market perform” rating on shares of Adobe in a research note on Thursday, December 12th. Finally, Barclays reduced their target price on shares of Adobe from $675.00 to $645.00 and set an “overweight” rating on the stock in a research note on Thursday, December 12th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Adobe currently has an average rating of “Moderate Buy” and a consensus price target of $540.60.

Adobe Price Performance

NASDAQ ADBE opened at $394.74 on Friday. The business has a 50 day simple moving average of $437.03 and a 200 day simple moving average of $482.06. Adobe Inc. has a 52-week low of $374.50 and a 52-week high of $587.75. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07. The stock has a market cap of $171.87 billion, a price-to-earnings ratio of 31.83, a PEG ratio of 2.15 and a beta of 1.37.

Adobe (NASDAQ:ADBE) last posted its earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share (EPS) for the quarter, topping 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 prior year, the business earned $4.48 EPS. Analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Adobe news, CAO Jillian Forusz sold 334 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total transaction of $145,567.22. Following the completion of the transaction, the chief accounting officer now owns 2,685 shares of the company’s stock, valued at $1,170,203.55. This represents a 11.06 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Scott Belsky sold 3,819 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $430.24, for a total value of $1,643,086.56. Following the transaction, the executive vice president now directly owns 18,334 shares of the company’s stock, valued at approximately $7,888,020.16. This trade represents a 17.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,075 shares of company stock valued at $2,191,826 in the last quarter. 0.16% of the stock is currently owned by insiders.

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.