Adobe Inc. (NASDAQ:ADBE) Holdings Lifted by Deane Retirement Strategies Inc.

Deane Retirement Strategies Inc. boosted its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 119.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,120 shares of the software company’s stock after buying an additional 4,426 shares during the period. Adobe makes up about 1.8% of Deane Retirement Strategies Inc.’s holdings, making the stock its 22nd biggest position. Deane Retirement Strategies Inc.’s holdings in Adobe were worth $3,611,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Foster Group Inc. increased its holdings in shares of Adobe by 4.6% in the 4th quarter. Foster Group Inc. now owns 526 shares of the software company’s stock valued at $234,000 after purchasing an additional 23 shares during the period. Capital Investment Counsel LLC purchased a new position in Adobe during the fourth quarter valued at approximately $4,940,000. Signature Wealth Management Partners LLC increased its stake in Adobe by 75.6% in the 4th quarter. Signature Wealth Management Partners LLC now owns 697 shares of the software company’s stock valued at $310,000 after buying an additional 300 shares during the period. Williams & Novak LLC purchased a new stake in Adobe in the 4th quarter worth approximately $229,000. Finally, Patriot Financial Group Insurance Agency LLC boosted its stake in shares of Adobe by 22.2% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 2,675 shares of the software company’s stock valued at $1,190,000 after buying an additional 486 shares during the period. 81.79% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ADBE has been the subject of a number of recent research reports. Barclays cut their price target on Adobe from $675.00 to $645.00 and set an “overweight” rating for the company in a research note on Thursday, December 12th. Piper Sandler lowered their price objective on Adobe from $635.00 to $600.00 and set an “overweight” rating on the stock in a report on Thursday, December 12th. Bank of America decreased their target price on Adobe from $640.00 to $605.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. DA Davidson dropped their price target on shares of Adobe from $685.00 to $625.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Finally, BNP Paribas raised shares of Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 price objective for the company in a report on Wednesday, January 15th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $573.00.

Insider Transactions at Adobe

In related news, Director Amy Banse sold 606 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $550.00, for a total value of $333,300.00. Following the completion of the transaction, the director now owns 32,929 shares in the company, valued at $18,110,950. The trade was a 1.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Jillian Forusz sold 334 shares of Adobe stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $435.83, for a total value of $145,567.22. Following the completion of the sale, the chief accounting officer now directly owns 2,685 shares of the company’s stock, valued at $1,170,203.55. This trade represents a 11.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,681 shares of company stock valued at $2,525,126. 0.15% of the stock is owned by insiders.

Adobe Price Performance

Shares of Adobe stock opened at $442.70 on Wednesday. Adobe Inc. has a twelve month low of $403.75 and a twelve month high of $638.25. 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 firm has a market cap of $192.71 billion, a P/E ratio of 35.70, a price-to-earnings-growth ratio of 2.12 and a beta of 1.31. The firm’s 50-day simple moving average is $466.93 and its 200-day simple moving average is $506.42.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 earnings per share for the quarter, beating analysts’ consensus estimates of $4.67 by $0.14. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The company had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $5.54 billion. During the same period in the previous year, the business earned $3.52 earnings per share. The company’s quarterly revenue was up 11.1% on a year-over-year basis. As a group, research analysts expect 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.