10,792 Shares in Adobe Inc. (NASDAQ:ADBE) Acquired by Sone Capital Management LLC

Sone Capital Management LLC bought a new stake in Adobe Inc. (NASDAQ:ADBE) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 10,792 shares of the software company’s stock, valued at approximately $4,799,000.

Several other hedge funds also recently bought and sold shares of ADBE. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Adobe by 441.2% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 92 shares of the software company’s stock worth $41,000 after acquiring an additional 75 shares in the last quarter. Merit Financial Group LLC grew its position in shares of Adobe by 53.2% in the 4th quarter. Merit Financial Group LLC now owns 9,763 shares of the software company’s stock valued at $4,341,000 after purchasing an additional 3,389 shares during the period. Arkadios Wealth Advisors increased its stake in Adobe by 7.4% during the 4th quarter. Arkadios Wealth Advisors now owns 2,812 shares of the software company’s stock worth $1,250,000 after purchasing an additional 193 shares in the last quarter. Integrated Investment Consultants LLC raised its holdings in Adobe by 4.0% during the 4th quarter. Integrated Investment Consultants LLC now owns 657 shares of the software company’s stock worth $292,000 after buying an additional 25 shares during the period. Finally, CGN Advisors LLC bought a new position in Adobe in the fourth quarter valued at approximately $1,193,000. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Adobe Price Performance

Adobe stock opened at $417.13 on Monday. The company has a market capitalization of $177.78 billion, a price-to-earnings ratio of 33.64, a PEG ratio of 2.15 and a beta of 1.55. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29. Adobe Inc. has a 12 month low of $332.01 and a 12 month high of $587.75. The stock’s 50 day moving average is $375.68 and its 200-day moving average is $433.63.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings data on Wednesday, March 12th. The software company reported $5.08 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $5.66 billion. During the same period in the prior year, the firm posted $4.48 EPS. Equities research analysts expect that Adobe Inc. will post 16.65 EPS for the current year.

Insider Activity at Adobe

In related news, CFO Daniel Durn acquired 1,300 shares of the company’s stock in a transaction on Thursday, March 20th. The stock was purchased 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 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.16% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

ADBE has been the topic of a number of research analyst reports. Redburn Atlantic began coverage on shares of Adobe in a report on Wednesday, February 19th. They set a “neutral” rating on the stock. KeyCorp raised Adobe from an “underweight” rating to a “sector weight” rating in a research note on Friday, March 21st. Jefferies Financial Group cut their price target on Adobe from $650.00 to $590.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Oppenheimer decreased their price objective on Adobe from $560.00 to $530.00 and set an “outperform” rating for the company in a report on Thursday, March 13th. Finally, Evercore ISI cut their target price on Adobe from $650.00 to $550.00 and set an “outperform” rating on the stock in a research note on Thursday, March 13th. Eleven investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $502.88.

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.