Allen Mooney & Barnes Investment Advisors LLC Buys 26 Shares of Adobe Inc. (NASDAQ:ADBE)

Allen Mooney & Barnes Investment Advisors LLC grew its stake in Adobe Inc. (NASDAQ:ADBE) by 2.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 962 shares of the software company’s stock after purchasing an additional 26 shares during the quarter. Allen Mooney & Barnes Investment Advisors LLC’s holdings in Adobe were worth $428,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of ADBE. International Assets Investment Management LLC boosted its holdings in Adobe by 66,909.7% during the 3rd quarter. International Assets Investment Management LLC now owns 1,378,390 shares of the software company’s stock worth $713,703,000 after acquiring an additional 1,376,333 shares during the last quarter. Longview Partners Guernsey LTD bought a new position in shares of Adobe during the second quarter valued at about $663,745,000. FMR LLC boosted its holdings in Adobe by 8.8% during the third quarter. FMR LLC now owns 9,690,163 shares of the software company’s stock worth $5,017,373,000 after purchasing an additional 787,356 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its position in Adobe by 982.4% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 541,670 shares of the software company’s stock worth $300,919,000 after purchasing an additional 491,627 shares in the last quarter. Finally, Erste Asset Management GmbH purchased a new stake in Adobe in the 3rd quarter valued at about $126,703,000. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Adobe Price Performance

NASDAQ ADBE opened at $412.71 on Wednesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.11 and a quick ratio of 1.11. Adobe Inc. has a 1-year low of $403.75 and a 1-year high of $638.25. The stock has a market capitalization of $181.67 billion, a price-to-earnings ratio of 33.28, a PEG ratio of 2.51 and a beta of 1.31. The business’s fifty day moving average price is $481.07 and its 200-day moving average price is $515.02.

Adobe (NASDAQ:ADBE) last posted its earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share for the quarter, beating analysts’ consensus estimates of $4.67 by $0.14. The company had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $5.54 billion. Adobe had a return on equity of 45.22% and a net margin of 25.85%. Adobe’s revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.52 earnings per share. On average, equities analysts predict that Adobe Inc. will post 16.73 earnings per share for the current year.

Insider Buying and Selling

In other news, CAO Jillian Forusz sold 676 shares of the company’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $484.97, for a total value of $327,839.72. Following the completion of the sale, the chief accounting officer now directly owns 2,715 shares in the company, valued at $1,316,693.55. This represents a 19.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Scott Belsky sold 481 shares of Adobe stock in a transaction on Friday, October 25th. The shares were sold at an average price of $483.42, for a total value of $232,525.02. Following the transaction, the executive vice president now owns 18,128 shares in the company, valued at $8,763,437.76. This trade represents a 2.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,763 shares of company stock valued at $893,665. 0.15% of the stock is owned by insiders.

Wall Street Analyst Weigh In

ADBE has been the topic of a number of research analyst reports. Royal Bank of Canada cut their target price on Adobe from $610.00 to $590.00 and set an “outperform” rating on the stock in a research note on Thursday, December 12th. TD Cowen cut Adobe from a “buy” rating to a “hold” rating and cut their price objective for the stock from $625.00 to $550.00 in a research report on Thursday, December 12th. Sanford C. Bernstein decreased their target price on Adobe from $644.00 to $587.00 and set an “outperform” rating for the company in a research report on Thursday, December 12th. Wells Fargo & Company cut their price target on shares of Adobe from $700.00 to $640.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $475.00 price objective (down previously from $600.00) on shares of Adobe in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Adobe has an average rating of “Moderate Buy” and a consensus target price of $573.00.

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.