Adobe Inc. (NASDAQ:ADBE) Shares Purchased by Investment Research & Advisory Group Inc.

Investment Research & Advisory Group Inc. grew its holdings in Adobe Inc. (NASDAQ:ADBE) by 2.2% during the fourth quarter, HoldingsChannel reports. The firm owned 4,839 shares of the software company’s stock after acquiring an additional 106 shares during the period. Investment Research & Advisory Group Inc.’s holdings in Adobe were worth $2,152,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Legacy Investment Solutions LLC purchased a new stake in Adobe in the third quarter valued at $26,000. Piscataqua Savings Bank boosted its position in shares of Adobe by 226.7% during the 3rd quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock worth $25,000 after purchasing an additional 34 shares during the period. MidAtlantic Capital Management Inc. purchased a new stake in Adobe in the third quarter valued at approximately $30,000. True Wealth Design LLC lifted its stake in Adobe by 141.7% during the third quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock worth $30,000 after purchasing an additional 34 shares in the last quarter. Finally, Briaud Financial Planning Inc purchased a new position in shares of Adobe during the third quarter worth $36,000. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Adobe Trading Down 0.4 %

Shares of Adobe stock opened at $435.38 on Friday. 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 company has a market capitalization of $189.52 billion, a P/E ratio of 35.11, a PEG ratio of 2.12 and a beta of 1.31. Adobe Inc. has a 1 year low of $403.75 and a 1 year high of $638.25. The company’s fifty day moving average is $468.14 and its two-hundred day moving average is $508.06.

Adobe (NASDAQ:ADBE) last released its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.67 by $0.14. The firm had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.54 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The business’s revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the company posted $3.52 earnings per share. Analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current year.

Insider Transactions at Adobe

In other news, Director Amy Banse sold 606 shares of the stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $550.00, for a total transaction of $333,300.00. Following the completion of the transaction, the director now directly owns 32,929 shares of the company’s stock, valued at approximately $18,110,950. This represents a 1.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Jillian Forusz sold 676 shares of Adobe stock in a transaction that occurred on Tuesday, October 29th. The shares were 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 owns 2,715 shares in the company, valued at approximately $1,316,693.55. This trade represents a 19.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.15% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Oppenheimer decreased their target price on Adobe from $625.00 to $600.00 and set an “outperform” rating on the stock in a research note on Thursday, December 12th. DA Davidson lowered their price objective on shares of Adobe from $685.00 to $625.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. BMO Capital Markets cut their target price on shares of Adobe from $600.00 to $570.00 and set an “outperform” rating on the stock in a research note on Thursday, December 12th. Piper Sandler decreased their price target on shares of Adobe from $635.00 to $600.00 and set an “overweight” rating for the company in a research report on Thursday, December 12th. Finally, StockNews.com lowered Adobe from a “strong-buy” rating to a “buy” rating in a report on Monday, January 20th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Adobe currently has a consensus rating of “Moderate Buy” and a consensus target price of $573.00.

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.