Crowley Wealth Management Inc. Invests $113,000 in Adobe Inc. (NASDAQ:ADBE)

Crowley Wealth Management Inc. bought a new position in shares of Adobe Inc. (NASDAQ:ADBE) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 253 shares of the software company’s stock, valued at approximately $113,000.

Other large investors also recently bought and sold shares of the company. Napatree Capital LLC grew its position in shares of Adobe by 30.2% in the fourth quarter. Napatree Capital LLC now owns 897 shares of the software company’s stock valued at $399,000 after purchasing an additional 208 shares in the last quarter. Stevens Capital Management LP grew its position in shares of Adobe by 78.0% in the fourth quarter. Stevens Capital Management LP now owns 4,902 shares of the software company’s stock valued at $2,180,000 after purchasing an additional 2,148 shares in the last quarter. LPL Financial LLC grew its holdings in Adobe by 4.2% in the 4th quarter. LPL Financial LLC now owns 444,953 shares of the software company’s stock valued at $197,766,000 after buying an additional 18,070 shares in the last quarter. Richwood Investment Advisors LLC grew its holdings in Adobe by 11.8% in the 4th quarter. Richwood Investment Advisors LLC now owns 1,329 shares of the software company’s stock valued at $591,000 after buying an additional 140 shares in the last quarter. Finally, Mizuho Markets Cayman LP grew its holdings in Adobe by 40.5% in the 4th quarter. Mizuho Markets Cayman LP now owns 1,300 shares of the software company’s stock valued at $578,000 after buying an additional 375 shares in the last quarter. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on ADBE shares. Morgan Stanley dropped their price objective on shares of Adobe from $660.00 to $600.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Citigroup dropped their price target on shares of Adobe from $551.00 to $490.00 and set a “neutral” rating for the company in a research note on Monday, March 10th. Redburn Atlantic began coverage on shares of Adobe in a research note on Wednesday, February 19th. They issued a “neutral” rating for the company. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $475.00 price objective (down from $600.00) on shares of Adobe in a research report on Wednesday, January 8th. Finally, BNP Paribas upgraded Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 price target for the company in a report on Wednesday, January 15th. Eleven 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 company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $538.80.

Adobe Stock Down 0.6 %

Shares of Adobe stock opened at $387.26 on Monday. Adobe Inc. has a 52-week low of $374.50 and a 52-week high of $587.75. The company has a 50 day moving average of $434.16 and a 200 day moving average of $475.10. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $168.62 billion, a P/E ratio of 31.23, a P/E/G ratio of 2.15 and a beta of 1.37.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $5.66 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. During the same period in the previous year, the company earned $4.48 EPS. As a group, research analysts forecast that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Insiders Place Their Bets

In related 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 purchased at an average cost of $390.58 per share, with a total value of $507,754.00. Following the transaction, 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 position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Jillian Forusz sold 334 shares of Adobe stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total transaction of $145,567.22. Following the sale, the chief accounting officer now owns 2,685 shares in the company, valued at $1,170,203.55. This represents a 11.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,075 shares of company stock valued at $2,191,826 in the last ninety days. Insiders own 0.16% of the company’s stock.

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.