Fullcircle Wealth LLC Has $827,000 Position in Adobe Inc. (NASDAQ:ADBE)

Fullcircle Wealth LLC increased its position in shares of Adobe Inc. (NASDAQ:ADBE) by 8.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,801 shares of the software company’s stock after acquiring an additional 133 shares during the period. Fullcircle Wealth LLC’s holdings in Adobe were worth $827,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Decker Retirement Planning Inc. bought a new stake in shares of Adobe during the 4th quarter valued at approximately $31,000. Summit Securities Group LLC bought a new stake in shares of Adobe during the fourth quarter worth $31,000. Caitlin John LLC increased its holdings in shares of Adobe by 171.4% during the fourth quarter. Caitlin John LLC now owns 76 shares of the software company’s stock worth $34,000 after buying an additional 48 shares in the last quarter. Mascoma Wealth Management LLC lifted its stake in shares of Adobe by 142.9% in the 4th quarter. Mascoma Wealth Management LLC now owns 85 shares of the software company’s stock valued at $38,000 after acquiring an additional 50 shares during the last quarter. Finally, LFA Lugano Financial Advisors SA acquired a new stake in shares of Adobe during the 4th quarter valued at $38,000. 81.79% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ADBE. Redburn Atlantic assumed coverage on shares of Adobe in a research report on Wednesday, February 19th. They issued a “neutral” rating for the company. Wells Fargo & Company decreased their price objective on Adobe from $600.00 to $430.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. Royal Bank of Canada cut their target price on Adobe from $530.00 to $480.00 and set an “outperform” rating on the stock in a report on Monday, April 14th. KeyCorp upgraded Adobe from an “underweight” rating to a “sector weight” rating in a research report on Friday, March 21st. Finally, Citigroup reduced their target price on Adobe from $551.00 to $490.00 and set a “neutral” rating on the stock in a report on Monday, March 10th. Eleven equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Adobe currently has an average rating of “Moderate Buy” and an average target price of $502.88.

Adobe Price Performance

ADBE opened at $384.97 on Thursday. Adobe Inc. has a 1 year low of $332.01 and a 1 year high of $587.75. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. The company has a market capitalization of $164.07 billion, a price-to-earnings ratio of 31.05, a P/E/G ratio of 2.15 and a beta of 1.55. The firm’s fifty 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 (EPS) for the quarter, beating the consensus estimate of $4.97 by $0.11. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The firm had revenue of $5.71 billion during the quarter, compared to analyst estimates of $5.66 billion. During the same period last year, the firm posted $4.48 EPS. As a group, analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Insider Buying and Selling at Adobe

In other Adobe news, CFO Daniel Durn acquired 1,300 shares of the business’s stock in a transaction that occurred on Thursday, March 20th. The stock was bought at an average cost 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 approximately $11,668,968.08. This represents a 4.55 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.16% of the company’s stock.

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.