Fi3 FINANCIAL ADVISORS LLC Buys 94 Shares of Adobe Inc. (NASDAQ:ADBE)

Fi3 FINANCIAL ADVISORS LLC lifted its stake in Adobe Inc. (NASDAQ:ADBE) by 20.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 547 shares of the software company’s stock after acquiring an additional 94 shares during the period. Fi3 FINANCIAL ADVISORS LLC’s holdings in Adobe were worth $243,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Virtu Financial LLC increased its position in Adobe by 198.8% in the 4th quarter. Virtu Financial LLC now owns 24,045 shares of the software company’s stock worth $10,692,000 after buying an additional 15,997 shares during the period. ZEGA Investments LLC bought a new position in Adobe in the 4th quarter worth approximately $920,000. Millstone Evans Group LLC bought a new position in Adobe in the 4th quarter worth approximately $48,000. Washington Trust Bank increased its position in Adobe by 5.2% in the 4th quarter. Washington Trust Bank now owns 37,356 shares of the software company’s stock worth $16,611,000 after buying an additional 1,840 shares during the period. Finally, Wealth Advisors of Iowa LLC increased its position in Adobe by 4.6% in the 4th quarter. Wealth Advisors of Iowa LLC now owns 1,140 shares of the software company’s stock worth $507,000 after buying an additional 50 shares during the period. 81.79% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on ADBE shares. Morgan Stanley dropped their price target on Adobe from $660.00 to $600.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Barclays lowered their price objective on Adobe from $675.00 to $645.00 and set an “overweight” rating on the stock in a research report on Thursday, December 12th. BMO Capital Markets lowered their price objective on Adobe from $515.00 to $495.00 and set an “outperform” rating on the stock in a research report on Thursday, March 13th. Evercore ISI lowered their price objective on Adobe from $650.00 to $550.00 and set an “outperform” rating on the stock in a research report on Thursday, March 13th. Finally, Oppenheimer lowered their price objective on Adobe from $560.00 to $530.00 and set an “outperform” rating on the stock in a research report on Thursday, March 13th. Eleven investment 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 company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $538.80.

Adobe Stock Down 0.6 %

NASDAQ:ADBE opened at $387.26 on Friday. The stock’s fifty day moving average price is $434.16 and its two-hundred day moving average price is $476.46. Adobe Inc. has a 52-week low of $374.50 and a 52-week high of $587.75. 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 cap of $168.62 billion, a price-to-earnings ratio of 31.23, a P/E/G ratio of 2.15 and a beta of 1.37.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share for the quarter, beating analysts’ consensus estimates of $4.97 by $0.11. The company had revenue of $5.71 billion for 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 prior year, the business posted $4.48 EPS. On average, analysts anticipate that Adobe Inc. will post 16.65 EPS for the current year.

Insider Buying and Selling

In other Adobe news, CAO Jillian Forusz sold 334 shares of the stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total transaction of $145,567.22. Following the completion of the transaction, the chief accounting officer now owns 2,685 shares in the company, valued at approximately $1,170,203.55. This represents a 11.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Daniel Durn bought 1,300 shares of the stock in a transaction on Thursday, March 20th. The shares were purchased at an average price of $390.58 per share, with a total value of $507,754.00. Following the acquisition, the chief financial officer now owns 29,876 shares in the company, valued at approximately $11,668,968.08. This represents a 4.55 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 5,075 shares of company stock valued at $2,191,826. 0.16% of the stock is owned by company insiders.

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.