158 Shares in Adobe Inc. (NASDAQ:ADBE) Bought by Burleson & Company LLC

Burleson & Company LLC acquired a new stake in Adobe Inc. (NASDAQ:ADBE) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 158 shares of the software company’s stock, valued at approximately $75,000.

Several other institutional investors have also recently added to or reduced their stakes in ADBE. OLD Mission Capital LLC acquired a new position in Adobe during the third quarter worth approximately $217,000. Wade G W & Inc. lifted its stake in shares of Adobe by 59.8% during the 4th quarter. Wade G W & Inc. now owns 1,114 shares of the software company’s stock worth $557,000 after buying an additional 417 shares during the last quarter. Cutter & CO Brokerage Inc. bought a new stake in shares of Adobe during the 4th quarter worth about $212,000. Bollard Group LLC grew its stake in Adobe by 51.1% in the 4th quarter. Bollard Group LLC now owns 887 shares of the software company’s stock valued at $444,000 after buying an additional 300 shares during the last quarter. Finally, Pettyjohn Wood & White Inc. raised its holdings in Adobe by 1.5% in the 4th quarter. Pettyjohn Wood & White Inc. now owns 6,151 shares of the software company’s stock valued at $3,076,000 after acquiring an additional 88 shares during the period. Institutional investors own 81.35% of the company’s stock.

Shares of ADBE stock opened at $535.52 on Friday. The firm has a market capitalization of $255.98 billion, a price-to-earnings ratio of 46.61, a price-to-earnings-growth ratio of 2.78 and a beta of 0.95. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.30. The company’s 50-day moving average price is $500.64. Adobe Inc. has a 12 month low of $387.37 and a 12 month high of $536.88.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings data on Monday, March 22nd. The software company reported $3.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.79 by $0.35. Adobe had a net margin of 40.68% and a return on equity of 36.30%. The business had revenue of $3.91 billion during the quarter, compared to analyst estimates of $3.76 billion. During the same quarter last year, the business earned $2.27 EPS. The firm’s quarterly revenue was up 26.3% on a year-over-year basis. As a group, analysts forecast that Adobe Inc. will post 10.01 EPS for the current year.

In other news, EVP Dana Rao sold 4,692 shares of the business’s stock in a transaction that occurred on Wednesday, May 5th. The shares were sold at an average price of $495.34, for a total value of $2,324,135.28. Following the transaction, the executive vice president now owns 18,803 shares in the company, valued at approximately $9,313,878.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Abhay Parasnis sold 4,000 shares of the company’s stock in a transaction on Thursday, April 15th. The shares were sold at an average price of $524.00, for a total transaction of $2,096,000.00. Following the completion of the sale, the executive vice president now directly owns 39,746 shares in the company, valued at $20,826,904. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,571 shares of company stock worth $7,442,586. 0.23% of the stock is owned by company insiders.

A number of equities analysts have recently weighed in on the company. Bank of America reiterated a “buy” rating and set a $570.00 target price on shares of Adobe in a research note on Wednesday, April 14th. Morgan Stanley lifted their target price on Adobe from $560.00 to $575.00 and gave the stock an “overweight” rating in a report on Wednesday, March 24th. Guggenheim restated a “hold” rating on shares of Adobe in a research note on Thursday, April 22nd. Wolfe Research began coverage on shares of Adobe in a research report on Wednesday, April 28th. They set an “outperform” rating and a $650.00 price target on the stock. Finally, Jefferies Financial Group decreased their target price on shares of Adobe from $610.00 to $560.00 and set a “buy” rating on the stock in a research report on Tuesday, May 18th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-one have issued a buy rating to the company’s stock. Adobe currently has an average rating of “Buy” and a consensus price target of $552.00.

Adobe Company Profile

Adobe Inc operates as a diversified software company worldwide. Its Digital Media segment provides tools and solutions that enable individuals, teams, and enterprises to create, publish, promote, and monetize their digital content. Its flagship product is Creative Cloud, a subscription service that allows customer to download and access the latest versions of its creative products.

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Institutional Ownership by Quarter for Adobe (NASDAQ:ADBE)

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