Cetera Investment Advisers Has $40.84 Million Holdings in Adobe Inc. (NASDAQ:ADBE)

Cetera Investment Advisers raised its stake in Adobe Inc. (NASDAQ:ADBE) by 5.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 91,842 shares of the software company’s stock after purchasing an additional 4,889 shares during the period. Cetera Investment Advisers’ holdings in Adobe were worth $40,840,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Arizona State Retirement System raised its position in Adobe by 0.4% in the 4th quarter. Arizona State Retirement System now owns 127,696 shares of the software company’s stock valued at $56,784,000 after purchasing an additional 570 shares during the last quarter. Burling Wealth Partners LLC bought a new position in shares of Adobe in the fourth quarter valued at about $1,173,000. Wealth Enhancement Advisory Services LLC lifted its position in Adobe by 1.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 99,150 shares of the software company’s stock worth $44,090,000 after buying an additional 1,326 shares in the last quarter. M. Kraus & Co bought a new stake in Adobe during the 4th quarter worth about $3,285,000. Finally, Silicon Valley Capital Partners increased its position in Adobe by 4.1% in the 4th quarter. Silicon Valley Capital Partners now owns 5,972 shares of the software company’s stock valued at $2,656,000 after acquiring an additional 236 shares in the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Adobe Stock Performance

Shares of ADBE opened at $384.97 on Thursday. The firm has a market cap of $164.07 billion, a P/E ratio of 31.05, a PEG ratio of 2.15 and a beta of 1.55. Adobe Inc. has a twelve month low of $332.01 and a twelve month 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 firm’s 50 day moving average price is $382.06 and its two-hundred day moving average price is $438.62.

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

Analyst Ratings Changes

Several analysts have recently commented on ADBE shares. BMO Capital Markets decreased their price target on shares of Adobe from $495.00 to $450.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 16th. KeyCorp raised Adobe from an “underweight” rating to a “sector weight” rating in a research note on Friday, March 21st. Summit Redstone set a $410.00 price target on Adobe in a research note on Wednesday, March 19th. DA Davidson lowered their price objective on Adobe from $600.00 to $450.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Finally, Evercore ISI cut their target price on shares of Adobe from $650.00 to $550.00 and set an “outperform” rating on the stock in a research report on Thursday, March 13th. Eleven investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $502.88.

Insider Activity at Adobe

In related news, CFO Daniel Durn acquired 1,300 shares of the business’s stock in a transaction dated Thursday, March 20th. The stock was bought at an average price of $390.58 per share, with a total value of $507,754.00. Following the acquisition, the chief financial officer now owns 29,876 shares in the company, valued at $11,668,968.08. This represents a 4.55 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.16% of the stock is owned by insiders.

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.