Mission Creek Capital Partners Inc. Acquires 203 Shares of Adobe Inc. (NASDAQ:ADBE)

Mission Creek Capital Partners Inc. grew its holdings in Adobe Inc. (NASDAQ:ADBE) by 4.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,291 shares of the software company’s stock after purchasing an additional 203 shares during the period. Mission Creek Capital Partners Inc.’s holdings in Adobe were worth $2,353,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Decker Retirement Planning Inc. purchased a new position in Adobe in the 4th quarter worth about $31,000. Summit Securities Group LLC bought a new stake in shares of Adobe in the fourth quarter worth approximately $31,000. Caitlin John LLC raised its holdings in shares of Adobe by 171.4% during the fourth quarter. Caitlin John LLC now owns 76 shares of the software company’s stock valued at $34,000 after purchasing an additional 48 shares during the last quarter. Avion Wealth lifted its position in Adobe by 112.2% during the fourth quarter. Avion Wealth now owns 87 shares of the software company’s stock valued at $38,000 after purchasing an additional 46 shares during the period. Finally, Mascoma Wealth Management LLC lifted its position in Adobe by 142.9% during the fourth quarter. Mascoma Wealth Management LLC now owns 85 shares of the software company’s stock valued at $38,000 after purchasing an additional 50 shares during the period. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Insider Transactions at Adobe

In other news, CFO Daniel Durn bought 1,300 shares of the stock in a transaction dated Thursday, March 20th. The stock was purchased at an average cost of $390.58 per share, for a total transaction of $507,754.00. Following the transaction, the chief financial officer now owns 29,876 shares of the company’s stock, valued at $11,668,968.08. The trade was a 4.55 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Scott Belsky sold 3,819 shares of the business’s stock in a transaction on Monday, January 27th. The stock was 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 in the company, valued at $7,888,020.16. This represents a 17.24 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on ADBE shares. StockNews.com downgraded shares of Adobe from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 4th. Jefferies Financial Group reduced their price objective on Adobe from $650.00 to $590.00 and set a “buy” rating for the company in a research report on Monday, March 31st. BMO Capital Markets dropped their target price on Adobe from $495.00 to $450.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 16th. Wells Fargo & Company reduced their price target on shares of Adobe from $600.00 to $430.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. Finally, Morgan Stanley dropped their price objective on shares of Adobe from $600.00 to $510.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Eleven analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $502.88.

Adobe Trading Up 1.9 %

ADBE stock opened at $367.72 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. Adobe Inc. has a 1-year low of $332.01 and a 1-year high of $587.75. The business has a 50 day simple moving average of $392.89 and a two-hundred day simple moving average of $445.08. The company has a market capitalization of $156.72 billion, a price-to-earnings ratio of 29.65, a PEG ratio of 2.15 and a beta of 1.49.

Adobe (NASDAQ:ADBE) last issued its earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share for the quarter, topping analysts’ consensus estimates of $4.97 by $0.11. The firm had revenue of $5.71 billion during the quarter, compared to analyst estimates of $5.66 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. During the same quarter in the prior year, the business earned $4.48 earnings per share. Research analysts anticipate that Adobe Inc. will post 16.65 EPS 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.