Adobe Inc. (NASDAQ:ADBE) Shares Purchased by Everhart Financial Group Inc.

Everhart Financial Group Inc. grew its stake in Adobe Inc. (NASDAQ:ADBE) by 1.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,770 shares of the software company’s stock after acquiring an additional 31 shares during the quarter. Everhart Financial Group Inc.’s holdings in Adobe were worth $1,062,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in ADBE. Siemens Fonds Invest GmbH raised its position in shares of Adobe by 252.9% in the fourth quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company’s stock valued at $25,000 after buying an additional 39,888 shares during the last quarter. SWAN Capital LLC purchased a new stake in Adobe in the 4th quarter worth approximately $28,000. Copia Wealth Management acquired a new position in Adobe in the 4th quarter valued at $28,000. Summit Securities Group LLC purchased a new position in shares of Adobe during the 4th quarter worth $31,000. Finally, Bernard Wealth Management Corp. acquired a new stake in shares of Adobe during the fourth quarter worth $36,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Insider Activity

In other news, CFO Daniel Durn bought 1,300 shares of the stock in a transaction dated Thursday, March 20th. The shares were acquired at an average price 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 $11,668,968.08. This trade represents a 4.55% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.16% of the stock is currently owned by company insiders.

Adobe Stock Performance

Shares of NASDAQ ADBE opened at $413.68 on Friday. Adobe Inc. has a 12 month low of $332.01 and a 12 month high of $587.75. The company has a market cap of $176.31 billion, a P/E ratio of 33.36, a P/E/G ratio of 2.15 and a beta of 1.55. The business’s 50 day moving average is $385.73 and its two-hundred day moving average is $422.64. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29.

Adobe (NASDAQ:ADBE) last announced its earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share (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 quarter in the previous year, the firm posted $4.48 earnings per share. On average, equities analysts expect that Adobe Inc. will post 16.65 EPS for the current year.

Analyst Ratings Changes

ADBE has been the subject of several recent analyst reports. Robert W. Baird lowered their price target on Adobe from $490.00 to $410.00 and set a “neutral” rating for the company in a report on Wednesday, March 19th. BMO Capital Markets lowered their price objective on shares of Adobe from $495.00 to $450.00 and set an “outperform” rating for the company in a research note on Wednesday, April 16th. Evercore ISI dropped their target price on shares of Adobe from $650.00 to $550.00 and set an “outperform” rating for the company in a research report on Thursday, March 13th. Mizuho decreased their price target on shares of Adobe from $620.00 to $575.00 and set an “outperform” rating for the company in a research report on Thursday, March 13th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $480.00 price target on shares of Adobe in a report on Thursday, June 5th. Nine research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $503.33.

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.