Adobe Inc. (NASDAQ:ADBE) Shares Purchased by Nemes Rush Group LLC

Nemes Rush Group LLC boosted its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 7.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 2,463 shares of the software company’s stock after purchasing an additional 177 shares during the period. Nemes Rush Group LLC’s holdings in Adobe were worth $1,095,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in ADBE. United Bank lifted its holdings in shares of Adobe by 19.7% during the third quarter. United Bank now owns 2,596 shares of the software company’s stock worth $1,344,000 after purchasing an additional 428 shares during the period. Edgestream Partners L.P. acquired a new stake in shares of Adobe in the 3rd quarter worth $719,000. Tradition Wealth Management LLC lifted its stake in shares of Adobe by 2.8% in the 3rd quarter. Tradition Wealth Management LLC now owns 2,646 shares of the software company’s stock worth $1,370,000 after acquiring an additional 73 shares during the period. True Wealth Design LLC boosted its holdings in shares of Adobe by 141.7% in 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 in the last quarter. Finally, FSA Wealth Management LLC acquired a new position in shares of Adobe during the third quarter worth about $81,000. 81.79% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Adobe

In other Adobe news, CAO Jillian Forusz sold 334 shares of the business’s stock in a transaction dated Tuesday, January 28th. The shares were 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 directly owns 2,685 shares of the company’s stock, valued at $1,170,203.55. The trade was a 11.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Daniel Durn bought 1,300 shares of the business’s stock in a transaction on Thursday, March 20th. The shares were acquired at an average cost of $390.58 per share, for a total transaction of $507,754.00. Following the purchase, the chief financial officer now directly owns 29,876 shares in the company, valued at $11,668,968.08. This represents a 4.55 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 5,075 shares of company stock valued at $2,191,826. Insiders own 0.16% of the company’s stock.

Adobe Trading Down 0.6 %

Shares of ADBE opened at $383.53 on Tuesday. The stock has a fifty day moving average of $430.88 and a two-hundred day moving average of $467.49. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07. Adobe Inc. has a fifty-two week low of $374.50 and a fifty-two week high of $587.75. The company has a market capitalization of $163.46 billion, a PE ratio of 30.93, a price-to-earnings-growth 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 for the quarter, beating the consensus estimate of $4.97 by $0.11. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The business had revenue of $5.71 billion for the quarter, compared to analyst estimates of $5.66 billion. During the same quarter in the previous year, the business posted $4.48 EPS. As a group, analysts forecast that Adobe Inc. will post 16.65 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have weighed in on ADBE. Robert W. Baird lowered their price objective on Adobe from $490.00 to $410.00 and set a “neutral” rating on the stock in a report on Wednesday, March 19th. Barclays decreased their price target on Adobe from $675.00 to $645.00 and set an “overweight” rating on the stock in a research note on Thursday, December 12th. UBS Group set a $495.00 price objective on Adobe in a report on Thursday, March 13th. Mizuho reduced their target price on Adobe from $620.00 to $575.00 and set an “outperform” rating for the company in a report on Thursday, March 13th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Adobe from $580.00 to $540.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Eleven equities research 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’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $531.54.

Adobe 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.