Strategy Asset Managers LLC Has $836,000 Stake in Adobe Inc. (NASDAQ:ADBE)

Strategy Asset Managers LLC reduced its holdings in Adobe Inc. (NASDAQ:ADBE) by 8.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,880 shares of the software company’s stock after selling 177 shares during the quarter. Strategy Asset Managers LLC’s holdings in Adobe were worth $836,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Legacy Investment Solutions LLC acquired a new stake in shares of Adobe in the third quarter valued at $26,000. Groupama Asset Managment raised its position in shares of Adobe by 28.8% during the third quarter. Groupama Asset Managment now owns 51,482 shares of the software company’s stock worth $27,000 after acquiring an additional 11,522 shares during the last quarter. True Wealth Design LLC lifted its stake in shares of 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 acquiring an additional 34 shares during the period. Decker Retirement Planning Inc. bought a new position in Adobe in the fourth quarter valued at about $31,000. Finally, Caitlin John LLC increased its position in Adobe by 171.4% in the fourth quarter. Caitlin John LLC now owns 76 shares of the software company’s stock worth $34,000 after purchasing an additional 48 shares during the period. 81.79% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director David A. Ricks acquired 2,250 shares of Adobe stock in a transaction on Tuesday, January 28th. The stock was purchased at an average cost of $443.98 per share, with a total value of $998,955.00. Following the completion of the transaction, the director now directly owns 4,984 shares in the company, valued at $2,212,796.32. This trade represents a 82.30 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Daniel Durn acquired 1,300 shares of the company’s stock in a transaction dated Thursday, March 20th. The stock was bought at an average cost of $390.58 per share, for a total transaction of $507,754.00. Following the completion of the transaction, the chief financial officer now directly owns 29,876 shares of the company’s stock, valued at approximately $11,668,968.08. This trade represents a 4.55 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 5,075 shares of company stock worth $2,191,826. Company insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ADBE. Sanford C. Bernstein reduced their target price on shares of Adobe from $644.00 to $587.00 and set an “outperform” rating on the stock in a research note on Thursday, December 12th. Wells Fargo & Company cut their price target on Adobe from $640.00 to $600.00 and set an “overweight” rating on the stock in a research note on Friday, March 7th. StockNews.com cut Adobe from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 4th. Morgan Stanley reduced their target price on Adobe from $660.00 to $600.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Finally, JPMorgan Chase & Co. lowered their price target on Adobe from $580.00 to $540.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Eleven investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Adobe presently has an average rating of “Moderate Buy” and an average price target of $533.85.

Adobe Trading Down 2.6 %

NASDAQ ADBE opened at $385.71 on Friday. Adobe Inc. has a 12 month low of $374.50 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 50 day moving average of $431.81 and a 200-day moving average of $470.42. The company has a market cap of $167.94 billion, a PE ratio of 31.11, a PEG ratio of 2.15 and a beta of 1.37.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Wednesday, March 12th. The software company reported $5.08 EPS for the quarter, beating analysts’ consensus estimates of $4.97 by $0.11. The firm had revenue of $5.71 billion during the quarter, compared to analysts’ expectations of $5.66 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. During the same quarter last year, the company posted $4.48 earnings per share. On average, equities research analysts anticipate that Adobe Inc. will post 16.65 EPS for the current fiscal 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.