Adobe Inc. (NASDAQ:ADBE) Shares Bought by FFT Wealth Management LLC

FFT Wealth Management LLC boosted its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 5.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,145 shares of the software company’s stock after purchasing an additional 56 shares during the quarter. FFT Wealth Management LLC’s holdings in Adobe were worth $509,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Swedbank AB raised its position in Adobe by 0.3% during the third quarter. Swedbank AB now owns 1,196,175 shares of the software company’s stock worth $619,355,000 after acquiring an additional 3,739 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its stake in shares of Adobe by 13.0% during the third quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 1,392 shares of the software company’s stock worth $721,000 after purchasing an additional 160 shares in the last quarter. Inscription Capital LLC raised its position in shares of Adobe by 37.6% during the 3rd quarter. Inscription Capital LLC now owns 531 shares of the software company’s stock worth $275,000 after purchasing an additional 145 shares during the last quarter. Patriot Financial Group Insurance Agency LLC raised its position in shares of Adobe by 12.8% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 2,189 shares of the software company’s stock worth $1,133,000 after purchasing an additional 248 shares during the last quarter. Finally, Orrstown Financial Services Inc. lifted its stake in Adobe by 37.4% in the 3rd quarter. Orrstown Financial Services Inc. now owns 3,108 shares of the software company’s stock valued at $1,609,000 after buying an additional 846 shares in the last quarter. 81.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently commented on ADBE. Oppenheimer dropped their price target on Adobe from $625.00 to $600.00 and set an “outperform” rating for the company in a research report on Thursday, December 12th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $590.00 target price on shares of Adobe in a report on Thursday, February 13th. UBS Group reduced their target price on shares of Adobe from $525.00 to $475.00 and set a “neutral” rating for the company in a research report on Friday, January 3rd. Wells Fargo & Company lowered their price target on shares of Adobe from $700.00 to $640.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Finally, Redburn Atlantic assumed coverage on shares of Adobe in a report on Wednesday, February 19th. They issued a “neutral” rating for the company. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $570.88.

Insider Buying and Selling at Adobe

In other news, CAO Jillian Forusz sold 334 shares of Adobe 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 directly owns 2,685 shares of the company’s stock, valued at $1,170,203.55. The trade was a 11.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Scott Belsky sold 922 shares of the 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 owns 22,153 shares of the company’s stock, valued at approximately $9,687,063.84. This represents a 4.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,681 shares of company stock worth $2,525,126. 0.15% of the stock is owned by insiders.

Adobe Price Performance

Shares of NASDAQ:ADBE opened at $443.41 on Wednesday. Adobe Inc. has a 12 month low of $403.75 and a 12 month high of $587.75. The firm has a market capitalization of $193.02 billion, a P/E ratio of 35.76, a P/E/G ratio of 2.15 and a beta of 1.31. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. The company’s fifty day moving average price is $439.88 and its 200 day moving average price is $492.62.

Adobe (NASDAQ:ADBE) last posted its earnings results on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, topping analysts’ consensus estimates of $4.67 by $0.14. The business had revenue of $5.61 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.52 earnings per share. As a group, sell-side analysts predict that Adobe Inc. will post 16.65 earnings per share for the current fiscal 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.