Adobe Inc. (NASDAQ:ADBE) Stake Decreased by EPG Wealth Management LLC

EPG Wealth Management LLC decreased its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 1.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 3,788 shares of the software company’s stock after selling 61 shares during the period. EPG Wealth Management LLC’s holdings in Adobe were worth $1,684,000 at the end of the most recent reporting period.

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

Insider Buying and Selling

In other Adobe news, CFO Daniel Durn purchased 1,300 shares of the firm’s stock in a transaction on 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 in the company, valued at $11,668,968.08. The trade was a 4.55 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.16% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ADBE. BNP Paribas upgraded Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 price target for the company in a report on Wednesday, January 15th. Citigroup decreased their price target on Adobe from $551.00 to $490.00 and set a “neutral” rating on the stock in a research note on Monday, March 10th. Summit Redstone set a $410.00 price objective on shares of Adobe in a research report on Wednesday, March 19th. Stifel Nicolaus reduced their target price on shares of Adobe from $600.00 to $525.00 and set a “buy” rating on the stock in a research note on Thursday, March 13th. Finally, Oppenheimer decreased their price objective on Adobe from $560.00 to $530.00 and set an “outperform” rating for the company in a research note on Thursday, March 13th. Eleven analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Adobe has an average rating of “Moderate Buy” and an average price target of $502.88.

Adobe Stock Performance

NASDAQ ADBE opened at $383.56 on Wednesday. Adobe Inc. has a 52-week low of $332.01 and a 52-week high of $587.75. The firm has a 50-day moving average of $383.13 and a 200-day moving average of $439.00. 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 stock has a market cap of $163.47 billion, a PE ratio of 30.93, a P/E/G ratio of 2.15 and a beta of 1.55.

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

About Adobe

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.