Drucker Wealth 3.0 LLC Has $968,000 Holdings in Adobe Inc. (NASDAQ:ADBE)

Drucker Wealth 3.0 LLC cut its stake in Adobe Inc. (NASDAQ:ADBE) by 2.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,176 shares of the software company’s stock after selling 55 shares during the period. Drucker Wealth 3.0 LLC’s holdings in Adobe were worth $968,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Siemens Fonds Invest GmbH boosted its stake in 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 purchasing an additional 39,888 shares during the period. Summit Securities Group LLC acquired a new position in Adobe in the 4th quarter worth $31,000. Caitlin John LLC boosted its stake in shares of 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 during the last quarter. Avion Wealth boosted its stake in shares of Adobe by 112.2% during the 4th 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 stake 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 last quarter. 81.79% of the stock is owned by institutional investors and hedge funds.

Adobe Trading Down 1.6%

Shares of ADBE stock opened at $407.69 on Friday. The firm has a 50 day moving average price of $377.13 and a two-hundred day moving average price of $431.95. 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 company has a market capitalization of $173.76 billion, a PE ratio of 32.88, a price-to-earnings-growth ratio of 2.15 and a beta of 1.55. Adobe Inc. has a 12-month low of $332.01 and a 12-month high of $587.75.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings data on Wednesday, March 12th. The software company reported $5.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.97 by $0.11. The firm had revenue of $5.71 billion during the quarter, compared to the consensus estimate 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 business posted $4.48 earnings per share. As a group, analysts predict that Adobe Inc. will post 16.65 earnings per share for the current year.

Insiders Place Their Bets

In other Adobe news, CFO Daniel Durn purchased 1,300 shares of the company’s stock in a transaction dated Thursday, March 20th. The stock was bought at an average cost of $390.58 per share, for a total transaction of $507,754.00. Following the completion of the transaction, the chief financial officer now owns 29,876 shares in the company, valued at approximately $11,668,968.08. This represents a 4.55% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on ADBE. Redburn Atlantic began coverage on shares of Adobe in a research note on Wednesday, February 19th. They set a “neutral” rating for the company. UBS Group reduced their price objective 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. Wall Street Zen upgraded shares of Adobe from a “hold” rating to a “buy” rating in a research note on Thursday. Evercore ISI reduced their price objective on shares of Adobe from $650.00 to $550.00 and set an “outperform” rating for the company in a research note on Thursday, March 13th. Finally, DA Davidson reduced their price objective on shares of Adobe from $600.00 to $450.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Eleven research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued 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 target price of $502.88.

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.