Adobe Inc. (NASDAQ:ADBE) Shares Purchased by Benchmark Investment Advisors LLC

Benchmark Investment Advisors LLC boosted its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 2.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,422 shares of the software company’s stock after buying an additional 33 shares during the quarter. Benchmark Investment Advisors LLC’s holdings in Adobe were worth $632,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in ADBE. Legacy Investment Solutions LLC purchased a new stake in shares of Adobe during the 3rd quarter worth approximately $26,000. Groupama Asset Managment raised its holdings in Adobe by 28.8% during the third quarter. Groupama Asset Managment now owns 51,482 shares of the software company’s stock worth $27,000 after purchasing an additional 11,522 shares during the last quarter. Decker Retirement Planning Inc. purchased a new stake in Adobe during the fourth quarter worth $31,000. Summit Securities Group LLC acquired a new stake in Adobe in the fourth quarter valued at $31,000. Finally, Caitlin John LLC increased its position 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 owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on ADBE shares. 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 report on Monday, March 10th. Jefferies Financial Group reduced their price target on shares of Adobe from $650.00 to $590.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Barclays lowered their price target on shares of Adobe from $675.00 to $645.00 and set an “overweight” rating on the stock in a research report on Thursday, December 12th. Wells Fargo & Company cut their price objective on Adobe from $640.00 to $600.00 and set an “overweight” rating for the company in a research report on Friday, March 7th. Finally, Stifel Nicolaus lowered their target price on Adobe from $600.00 to $525.00 and set a “buy” rating on the stock in a report on Thursday, March 13th. 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $531.54.

Insider Transactions at Adobe

In other news, CAO Jillian Forusz sold 334 shares of the firm’s stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $435.83, for a total value of $145,567.22. Following the transaction, the chief accounting officer now owns 2,685 shares of the company’s stock, valued at approximately $1,170,203.55. This trade represents a 11.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Scott Belsky sold 922 shares of the company’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $437.28, for a total transaction of $403,172.16. Following the sale, the executive vice president now directly owns 22,153 shares of the company’s stock, valued at approximately $9,687,063.84. This trade represents a 4.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,075 shares of company stock worth $2,191,826. 0.16% of the stock is currently owned by company insiders.

Adobe Stock Down 5.0 %

Shares of NASDAQ ADBE opened at $349.07 on Friday. The stock has a market capitalization of $148.77 billion, a PE ratio of 28.15, a P/E/G ratio of 2.15 and a beta of 1.49. 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 firm has a fifty day moving average of $425.66 and a 200-day moving average of $463.60. Adobe Inc. has a 52-week low of $348.80 and a 52-week high of $587.75.

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

Adobe Company 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.