Financial Avengers Inc. Buys 440 Shares of Adobe Inc. (NASDAQ:ADBE)

Financial Avengers Inc. raised its stake in Adobe Inc. (NASDAQ:ADBE) by 7.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,119 shares of the software company’s stock after buying an additional 440 shares during the period. Adobe comprises about 1.3% of Financial Avengers Inc.’s portfolio, making the stock its 18th biggest position. Financial Avengers Inc.’s holdings in Adobe were worth $2,721,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in ADBE. Siemens Fonds Invest GmbH raised its position in shares of Adobe by 252.9% in the 4th quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company’s stock worth $25,000 after acquiring an additional 39,888 shares in the last quarter. Summit Securities Group LLC bought a new stake in shares of Adobe during the 4th quarter valued at about $31,000. Caitlin John LLC grew its stake in Adobe by 171.4% during the fourth quarter. Caitlin John LLC now owns 76 shares of the software company’s stock worth $34,000 after purchasing an additional 48 shares during the period. Avion Wealth increased its holdings in Adobe by 112.2% in the fourth quarter. Avion Wealth now owns 87 shares of the software company’s stock worth $38,000 after purchasing an additional 46 shares in the last quarter. Finally, Mascoma Wealth Management LLC increased its holdings in Adobe by 142.9% in the fourth quarter. Mascoma Wealth Management LLC now owns 85 shares of the software company’s stock worth $38,000 after purchasing an additional 50 shares in the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Insider Transactions at Adobe

In other Adobe news, CFO Daniel Durn purchased 1,300 shares of the stock in a transaction that occurred on Thursday, March 20th. The shares were bought at an average cost 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 trade represents a 4.55% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on ADBE. BMO Capital Markets cut their price target on Adobe from $495.00 to $450.00 and set an “outperform” rating on the stock in a report on Wednesday, April 16th. Bank of America dropped their target price on shares of Adobe from $605.00 to $528.00 and set a “buy” rating on the stock in a research report on Thursday, March 13th. Morgan Stanley reduced their price target on shares of Adobe from $600.00 to $510.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. UBS Group decreased their price target on shares of Adobe from $410.00 to $380.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Finally, Summit Redstone set a $410.00 target price on Adobe in a research note on Wednesday, March 19th. Eleven 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $502.88.

Adobe Trading Down 0.7%

Shares of Adobe stock opened at $417.61 on Wednesday. Adobe Inc. has a 1-year low of $332.01 and a 1-year high of $587.75. The company’s fifty day simple moving average is $376.12 and its 200-day simple moving average is $433.08. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. The stock has a market capitalization of $177.99 billion, a PE ratio of 33.68, a P/E/G ratio of 2.15 and a beta of 1.55.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Wednesday, March 12th. The software company reported $5.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.97 by $0.11. The company had revenue of $5.71 billion during 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 period in the previous year, the company posted $4.48 EPS. As a group, equities analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current year.

Adobe Company 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.