Osprey Private Wealth LLC Has $3.27 Million Stake in Adobe Inc. (NASDAQ:ADBE)

Osprey Private Wealth LLC increased its position in Adobe Inc. (NASDAQ:ADBE) by 21.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,522 shares of the software company’s stock after buying an additional 1,490 shares during the quarter. Adobe accounts for approximately 1.9% of Osprey Private Wealth LLC’s investment portfolio, making the stock its 23rd largest position. Osprey Private Wealth LLC’s holdings in Adobe were worth $3,268,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in ADBE. Siemens Fonds Invest GmbH boosted its holdings in shares of Adobe by 252.9% during the 4th quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company’s stock worth $25,000 after buying an additional 39,888 shares in the last quarter. SWAN Capital LLC bought a new position in shares of Adobe in the fourth quarter valued at approximately $28,000. Copia Wealth Management bought a new stake in shares of Adobe during the 4th quarter valued at about $28,000. Summit Securities Group LLC bought a new stake in shares of Adobe during the 4th quarter valued at about $31,000. Finally, Bernard Wealth Management Corp. bought a new stake in Adobe in the 4th quarter worth approximately $36,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Stifel Nicolaus decreased their price target on Adobe from $600.00 to $525.00 and set a “buy” rating on the stock in a research note on Thursday, March 13th. Morgan Stanley cut their target price on Adobe from $600.00 to $510.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. Redburn Atlantic assumed coverage on Adobe in a research note on Wednesday, February 19th. They issued a “neutral” rating on the stock. Citigroup increased their target price on Adobe from $430.00 to $465.00 and gave the stock a “neutral” rating in a research note on Tuesday. Finally, Oppenheimer cut their target price on Adobe from $560.00 to $530.00 and set an “outperform” rating on the stock in a research note on Thursday, March 13th. Nine 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 stock. According to data from MarketBeat, Adobe has an average rating of “Moderate Buy” and a consensus target price of $503.33.

Insider Activity at Adobe

In other Adobe news, CFO Daniel Durn bought 1,300 shares of the firm’s stock in a transaction that occurred on Thursday, March 20th. The shares were bought at an average price of $390.58 per share, with a total value of $507,754.00. Following the purchase, the chief financial officer now owns 29,876 shares of the company’s stock, valued at $11,668,968.08. This trade 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 through this hyperlink. 0.16% of the stock is owned by corporate insiders.

Adobe Trading Up 0.2%

Shares of NASDAQ:ADBE opened at $413.68 on Friday. The stock has a market capitalization of $176.31 billion, a price-to-earnings ratio of 33.36, a PEG ratio of 2.15 and a beta of 1.55. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07. The stock’s 50-day simple moving average is $385.73 and its two-hundred day simple moving average is $422.64. Adobe Inc. has a 52-week low of $332.01 and a 52-week high of $587.75.

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, topping the consensus estimate of $4.97 by $0.11. The business had revenue of $5.71 billion for the quarter, compared to analysts’ expectations of $5.66 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. During the same period last year, the firm posted $4.48 earnings per share. Analysts expect that Adobe Inc. will post 16.65 EPS for the current year.

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.