153 Shares in Adobe Inc. (NASDAQ:ADBE) Purchased by Sherman Asset Management Inc.

Sherman Asset Management Inc. bought a new position in shares of Adobe Inc. (NASDAQ:ADBE) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 153 shares of the software company’s stock, valued at approximately $68,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Legacy Investment Solutions LLC purchased a new position in Adobe during the third quarter worth approximately $26,000. Groupama Asset Managment boosted its position in Adobe by 28.8% during the third quarter. Groupama Asset Managment now owns 51,482 shares of the software company’s stock worth $27,000 after purchasing an additional 11,522 shares in the last quarter. MidAtlantic Capital Management Inc. purchased a new position in Adobe during the third quarter worth approximately $30,000. True Wealth Design LLC boosted its position 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, Decker Retirement Planning Inc. purchased a new position in Adobe during the fourth quarter worth approximately $31,000. 81.79% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Scott Belsky sold 3,819 shares of Adobe stock in a transaction on Monday, January 27th. The stock was sold at an average price of $430.24, for a total value of $1,643,086.56. Following the completion of the sale, the executive vice president now directly owns 18,334 shares of the company’s stock, valued at approximately $7,888,020.16. The trade was a 17.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, 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 completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,681 shares of company stock valued at $2,525,126. 0.15% of the stock is currently owned by corporate insiders.

Adobe Price Performance

ADBE stock opened at $438.49 on Friday. The business has a fifty day moving average of $439.71 and a two-hundred day moving average of $490.93. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29. The stock has a market cap of $190.87 billion, a price-to-earnings ratio of 35.36, a price-to-earnings-growth ratio of 2.15 and a beta of 1.31. Adobe Inc. has a 52-week low of $403.75 and a 52-week high of $587.75.

Adobe (NASDAQ:ADBE) last posted its earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.67 by $0.14. The company had revenue of $5.61 billion during 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 firm’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the firm earned $3.52 earnings per share. As a group, research analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $590.00 price target on shares of Adobe in a research report on Thursday, February 13th. DA Davidson lowered their price target on Adobe from $685.00 to $625.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Barclays decreased their target price on Adobe from $675.00 to $645.00 and set an “overweight” rating on the stock in a research report on Thursday, December 12th. StockNews.com downgraded Adobe from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 20th. Finally, Jefferies Financial Group decreased their target price on Adobe from $700.00 to $650.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $570.88.

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.