Adobe Inc. (NASDAQ:ADBE) Shares Bought by Stablepoint Partners LLC

Stablepoint Partners LLC lifted its position in Adobe Inc. (NASDAQ:ADBE) by 37.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,213 shares of the software company’s stock after acquiring an additional 600 shares during the quarter. Stablepoint Partners LLC’s holdings in Adobe were worth $849,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Siemens Fonds Invest GmbH boosted its stake in Adobe by 252.9% in the fourth quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company’s stock valued at $25,000 after acquiring an additional 39,888 shares during the period. SWAN Capital LLC acquired a new position in shares of Adobe during the fourth quarter worth approximately $28,000. Copia Wealth Management bought a new position in Adobe in the 4th quarter worth approximately $28,000. Summit Securities Group LLC acquired a new stake in Adobe in the 4th quarter valued at approximately $31,000. Finally, Caitlin John LLC increased its holdings in shares of Adobe by 171.4% in the fourth quarter. Caitlin John LLC now owns 76 shares of the software company’s stock valued at $34,000 after buying an additional 48 shares in the last quarter. 81.79% of the stock is currently owned by institutional investors.

Adobe Stock Up 0.4%

Adobe stock opened at $416.92 on Friday. The company has a market cap of $177.69 billion, a P/E ratio of 33.62, a price-to-earnings-growth ratio of 2.15 and a beta of 1.55. The company has a fifty day simple moving average of $381.41 and a 200 day simple moving average of $425.24. 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 1-year low of $332.01 and a 1-year high of $587.75.

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

Insider Activity

In other Adobe news, CFO Daniel Durn acquired 1,300 shares of the company’s stock in a transaction on Thursday, March 20th. The shares were purchased at an average price of $390.58 per share, for a total transaction of $507,754.00. Following the completion of the purchase, the chief financial officer now directly owns 29,876 shares of the company’s stock, 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.16% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Citigroup lowered their target price 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. KeyCorp raised Adobe from an “underweight” rating to a “sector weight” rating in a research note on Friday, March 21st. UBS Group decreased their target price on Adobe from $410.00 to $380.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Evercore ISI lowered their price target on Adobe from $650.00 to $550.00 and set an “outperform” rating for the company in a research note on Thursday, March 13th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $480.00 price objective on shares of Adobe in a report on Thursday. Eleven equities research 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 company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $502.88.

Adobe Profile

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.