Adobe Inc. (NASDAQ:ADBE) Shares Purchased by Financial Counselors Inc.

Financial Counselors Inc. increased its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 0.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,553 shares of the software company’s stock after purchasing an additional 274 shares during the period. Financial Counselors Inc.’s holdings in Adobe were worth $25,593,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of ADBE. Murphy & Mullick Capital Management Corp purchased a new stake in Adobe during the 4th quarter worth about $313,000. Florida Financial Advisors LLC grew its holdings in shares of Adobe by 32.1% during the fourth quarter. Florida Financial Advisors LLC now owns 1,289 shares of the software company’s stock worth $573,000 after buying an additional 313 shares in the last quarter. Baxter Bros Inc. raised its position in shares of Adobe by 5.7% in the fourth quarter. Baxter Bros Inc. now owns 3,265 shares of the software company’s stock valued at $1,452,000 after buying an additional 176 shares during the last quarter. Potentia Wealth purchased a new position in shares of Adobe during the fourth quarter valued at approximately $215,000. Finally, ATOMVEST Ltd acquired a new stake in Adobe during the fourth quarter worth approximately $12,807,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Analysts Set New Price Targets

ADBE has been the subject of a number of recent analyst reports. BNP Paribas raised Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 price objective for the company in a research report on Wednesday, January 15th. Stifel Nicolaus lowered their target price on shares of Adobe from $600.00 to $525.00 and set a “buy” rating for the company in a report on Thursday, March 13th. Robert W. Baird decreased their price target on shares of Adobe from $490.00 to $410.00 and set a “neutral” rating on the stock in a report on Wednesday, March 19th. Bank of America dropped their price objective on Adobe from $605.00 to $528.00 and set a “buy” rating for the company in a report on Thursday, March 13th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $475.00 price objective (down from $600.00) on shares of Adobe in a report on Wednesday, January 8th. Eleven equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $538.80.

Insider Activity at Adobe

In other news, CFO Daniel Durn purchased 1,300 shares of the firm’s stock in a transaction on 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 acquisition, the chief financial officer now directly owns 29,876 shares of the company’s stock, valued at approximately $11,668,968.08. The trade was a 4.55 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Scott Belsky sold 922 shares of the business’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $437.28, for a total value of $403,172.16. Following the transaction, the executive vice president now directly owns 22,153 shares of the company’s stock, valued at $9,687,063.84. This represents a 4.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,075 shares of company stock valued at $2,191,826. 0.16% of the stock is owned by corporate insiders.

Adobe Stock Up 2.3 %

Shares of ADBE stock opened at $403.64 on Wednesday. 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 $175.75 billion, a PE ratio of 32.55, a price-to-earnings-growth ratio of 2.15 and a beta of 1.37. The business’s fifty day moving average is $433.70 and its 200-day moving average is $472.75. Adobe Inc. has a 1 year low of $374.50 and a 1 year high of $587.75.

Adobe (NASDAQ:ADBE) last announced its earnings results on Wednesday, March 12th. The software company reported $5.08 EPS for the quarter, beating the consensus estimate of $4.97 by $0.11. The business had revenue of $5.71 billion during the quarter, compared to the consensus estimate of $5.66 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. During the same period in the prior year, the business posted $4.48 earnings per share. Equities analysts expect that Adobe Inc. will post 16.65 earnings per share 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.