Concentrum Wealth Management Purchases 257 Shares of Adobe Inc. (NASDAQ:ADBE)

Concentrum Wealth Management raised its position in shares of Adobe Inc. (NASDAQ:ADBE) by 2.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,561 shares of the software company’s stock after buying an additional 257 shares during the period. Adobe comprises 1.5% of Concentrum Wealth Management’s portfolio, making the stock its 17th biggest position. Concentrum Wealth Management’s holdings in Adobe were worth $4,252,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of ADBE. Legacy Investment Solutions LLC bought a new position in Adobe in the 3rd quarter valued at $26,000. Decker Retirement Planning Inc. acquired a new stake in shares of Adobe in the fourth quarter valued at $31,000. Summit Securities Group LLC bought a new position in shares of Adobe in the fourth quarter valued at about $31,000. Caitlin John LLC lifted its position in Adobe by 171.4% during the 4th quarter. Caitlin John LLC now owns 76 shares of the software company’s stock worth $34,000 after buying an additional 48 shares in the last quarter. Finally, Mascoma Wealth Management LLC grew its holdings in Adobe by 142.9% during the 4th quarter. Mascoma Wealth Management LLC now owns 85 shares of the software company’s stock worth $38,000 after acquiring an additional 50 shares during the last quarter. Institutional investors own 81.79% of the company’s stock.

Adobe Stock Performance

Shares of ADBE opened at $349.07 on Monday. The firm’s 50 day moving average price is $425.66 and its two-hundred day moving average price is $463.29. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07. Adobe Inc. has a twelve month low of $333.36 and a twelve month high of $587.75. The firm has a market cap of $148.77 billion, a P/E ratio of 28.15, a PEG ratio of 2.15 and a beta of 1.49.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Wednesday, March 12th. The software company reported $5.08 EPS 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 analyst estimates of $5.66 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. During the same period in the previous year, the company posted $4.48 earnings per share. On average, analysts forecast that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on ADBE shares. Oppenheimer dropped their target price on shares of Adobe from $560.00 to $530.00 and set an “outperform” rating for the company in a research note on Thursday, March 13th. UBS Group set a $495.00 price objective on shares of Adobe in a research report on Thursday, March 13th. Morgan Stanley reduced their price objective on Adobe from $660.00 to $600.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Redburn Atlantic assumed coverage on Adobe in a research note on Wednesday, February 19th. They issued a “neutral” rating for the company. Finally, KeyCorp raised Adobe from an “underweight” rating to a “sector weight” rating in a research note on Friday, March 21st. Eleven equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Adobe presently has a consensus rating of “Moderate Buy” and a consensus target price of $531.54.

Insiders Place Their Bets

In other news, CFO Daniel Durn acquired 1,300 shares of the stock in a transaction dated Thursday, March 20th. The shares were bought at an average cost of $390.58 per share, for a total transaction of $507,754.00. Following the purchase, the chief financial officer now directly owns 29,876 shares of the company’s stock, valued at approximately $11,668,968.08. This trade represents a 4.55 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Scott Belsky sold 3,819 shares of the firm’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $430.24, for a total transaction of $1,643,086.56. Following the completion of the sale, the executive vice president now owns 18,334 shares of the company’s stock, valued at $7,888,020.16. This trade represents a 17.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,075 shares of company stock valued at $2,191,826 in the last three months. 0.16% of the stock is currently owned by corporate 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.