Kaizen Financial Strategies Buys 52 Shares of Adobe Inc. (NASDAQ:ADBE)

Kaizen Financial Strategies raised its stake in Adobe Inc. (NASDAQ:ADBE) by 2.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,829 shares of the software company’s stock after acquiring an additional 52 shares during the quarter. Kaizen Financial Strategies’ holdings in Adobe were worth $701,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Peoples Bank KS raised its holdings in Adobe by 13.1% in the 1st quarter. Peoples Bank KS now owns 1,209 shares of the software company’s stock valued at $464,000 after acquiring an additional 140 shares during the period. Meyer Handelman Co. increased its holdings in shares of Adobe by 562.4% during the first quarter. Meyer Handelman Co. now owns 16,560 shares of the software company’s stock worth $6,351,000 after purchasing an additional 14,060 shares during the period. Beese Fulmer Investment Management Inc. increased its holdings in shares of Adobe by 5.1% during the first quarter. Beese Fulmer Investment Management Inc. now owns 21,767 shares of the software company’s stock worth $8,348,000 after purchasing an additional 1,056 shares during the period. Pacifica Partners Inc. increased its holdings in shares of Adobe by 193.3% during the first quarter. Pacifica Partners Inc. now owns 1,138 shares of the software company’s stock worth $418,000 after purchasing an additional 750 shares during the period. Finally, New Hampshire Trust increased its holdings in shares of Adobe by 4.9% during the first quarter. New Hampshire Trust now owns 5,109 shares of the software company’s stock worth $1,959,000 after purchasing an additional 237 shares during the period. 81.79% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Oppenheimer lowered their target price on shares of Adobe from $560.00 to $530.00 and set an “outperform” rating on the stock in a report on Thursday, March 13th. Mizuho lowered their target price on shares of Adobe from $620.00 to $575.00 and set an “outperform” rating on the stock in a report on Thursday, March 13th. Stifel Nicolaus lowered their target price on shares of Adobe from $600.00 to $525.00 and set a “buy” rating on the stock in a report on Thursday, March 13th. Bank of America lowered their target price on shares of Adobe from $605.00 to $528.00 and set a “buy” rating on the stock in a report on Thursday, March 13th. Finally, Summit Redstone set a $410.00 target price on shares of Adobe in a report on Wednesday, March 19th. Eleven investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Adobe presently has an average rating of “Moderate Buy” and a consensus price target of $502.88.

Adobe Stock Performance

Shares of Adobe stock opened at $414.76 on Friday. Adobe Inc. has a fifty-two week low of $332.01 and a fifty-two week 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 firm has a market capitalization of $176.77 billion, a P/E ratio of 33.45, a P/E/G ratio of 2.15 and a beta of 1.55. The company’s 50 day moving average price is $379.10 and its two-hundred day moving average price is $427.98.

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

Insider Transactions at Adobe

In other Adobe news, CFO Daniel Durn purchased 1,300 shares of the business’s stock in a transaction dated Thursday, March 20th. The shares were bought 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 owns 29,876 shares in the company, valued at approximately $11,668,968.08. This trade represents a 4.55% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.16% of the stock is owned by company 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.