Drucker Wealth 3.0 LLC Has $968,000 Stake in Adobe Inc. (NASDAQ:ADBE)

Drucker Wealth 3.0 LLC trimmed its holdings in Adobe Inc. (NASDAQ:ADBE) by 2.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,176 shares of the software company’s stock after selling 55 shares during the period. Drucker Wealth 3.0 LLC’s holdings in Adobe were worth $968,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Jupiter Wealth Management LLC raised its position in shares of Adobe by 100.0% in the fourth quarter. Jupiter Wealth Management LLC now owns 1,000 shares of the software company’s stock valued at $445,000 after buying an additional 500 shares in the last quarter. Orin Green Financial LLC increased its stake in Adobe by 3.8% in the fourth quarter. Orin Green Financial LLC now owns 621 shares of the software company’s stock valued at $276,000 after acquiring an additional 23 shares during the last quarter. Blue Sky Capital Consultants Group Inc. bought a new position in Adobe in the fourth quarter valued at approximately $1,619,000. Warm Springs Advisors Inc. bought a new position in Adobe in the fourth quarter valued at approximately $1,650,000. Finally, North Star Asset Management Inc. increased its stake in Adobe by 1.2% in the fourth quarter. North Star Asset Management Inc. now owns 88,876 shares of the software company’s stock valued at $39,521,000 after acquiring an additional 1,020 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Mizuho decreased their price objective on shares of Adobe from $620.00 to $575.00 and set an “outperform” rating on the stock in a research note on Thursday, March 13th. KeyCorp raised shares of Adobe from an “underweight” rating to a “sector weight” rating in a research note on Friday, March 21st. DA Davidson decreased their price objective on shares of Adobe from $600.00 to $450.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Citigroup decreased their price objective on shares of Adobe from $551.00 to $490.00 and set a “neutral” rating on the stock in a research note on Monday, March 10th. Finally, Robert W. Baird decreased their target price on shares of Adobe from $490.00 to $410.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 19th. Eleven investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $502.88.

Adobe Stock Performance

Shares of Adobe stock opened at $407.69 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29. Adobe Inc. has a twelve month low of $332.01 and a twelve month high of $587.75. The stock has a market cap of $173.76 billion, a price-to-earnings ratio of 32.88, a P/E/G ratio of 2.15 and a beta of 1.55. The company’s fifty day moving average is $377.13 and its 200 day moving average is $431.95.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings data on Wednesday, March 12th. The software company reported $5.08 earnings per share for the quarter, topping 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 company had revenue of $5.71 billion for the quarter, compared to analysts’ expectations of $5.66 billion. During the same quarter in the previous year, the firm posted $4.48 earnings per share. Sell-side analysts forecast that Adobe Inc. will post 16.65 EPS for the current year.

Insider Buying and Selling

In other news, CFO Daniel Durn bought 1,300 shares of the company’s stock in a transaction that occurred on Thursday, March 20th. The shares were acquired at an average price of $390.58 per share, for a total transaction of $507,754.00. Following the completion of the acquisition, the chief financial officer now directly 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 transaction was disclosed in a document filed with the SEC, which is available at this link. 0.16% of the stock is currently 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.