Sound Income Strategies LLC Acquires 75 Shares of Adobe Inc. (NASDAQ:ADBE)

Sound Income Strategies LLC boosted its holdings in Adobe Inc. (NASDAQ:ADBEFree Report) by 49.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 227 shares of the software company’s stock after purchasing an additional 75 shares during the quarter. Sound Income Strategies LLC’s holdings in Adobe were worth $135,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in ADBE. Iron Horse Wealth Management LLC bought a new stake in Adobe in the third quarter worth approximately $25,000. HBC Financial Services PLLC bought a new stake in shares of Adobe during the third quarter valued at approximately $25,000. Global Wealth Strategies & Associates increased its holdings in shares of Adobe by 57.6% during the third quarter. Global Wealth Strategies & Associates now owns 52 shares of the software company’s stock valued at $27,000 after acquiring an additional 19 shares in the last quarter. Financial Freedom LLC bought a new stake in shares of Adobe during the fourth quarter valued at approximately $29,000. Finally, Halpern Financial Inc. increased its holdings in shares of Adobe by 314.3% during the third quarter. Halpern Financial Inc. now owns 58 shares of the software company’s stock valued at $30,000 after acquiring an additional 44 shares in the last quarter. 80.00% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. BMO Capital Markets decreased their price objective on Adobe from $690.00 to $660.00 and set an “overweight” rating for the company in a report on Friday. BNP Paribas downgraded Adobe from a “neutral” rating to an “underperform” rating and set a $499.00 price objective for the company. in a report on Thursday, January 18th. Oppenheimer reiterated an “outperform” rating and set a $660.00 price target on shares of Adobe in a report on Friday. TD Cowen decreased their price target on Adobe from $650.00 to $640.00 and set an “outperform” rating for the company in a report on Friday. Finally, DA Davidson reiterated a “buy” rating and set a $685.00 price target on shares of Adobe in a report on Friday. One analyst has rated the stock with a sell rating, five have given a hold rating and twenty-one have given a buy rating to the company. According to MarketBeat, Adobe currently has a consensus rating of “Moderate Buy” and an average target price of $627.00.

Get Our Latest Stock Report on ADBE

Adobe Stock Up 4.3 %

Shares of NASDAQ ADBE opened at $513.86 on Tuesday. Adobe Inc. has a one year low of $331.89 and a one year high of $638.25. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.34 and a quick ratio of 1.34. The business’s fifty day moving average price is $583.38 and its 200-day moving average price is $573.74. The stock has a market capitalization of $232.55 billion, a PE ratio of 49.13, a P/E/G ratio of 3.03 and a beta of 1.29.

Adobe (NASDAQ:ADBEGet Free Report) last released its quarterly earnings data on Thursday, March 14th. The software company reported $4.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.38 by $0.10. Adobe had a return on equity of 38.97% and a net margin of 24.08%. The company had revenue of $5.18 billion for the quarter, compared to analyst estimates of $5.14 billion. During the same period in the previous year, the company posted $2.97 EPS. The firm’s revenue for the quarter was up 11.3% compared to the same quarter last year. On average, equities research analysts anticipate that Adobe Inc. will post 14.46 EPS for the current year.

Insider Activity at Adobe

In related news, CEO Shantanu Narayen sold 32,000 shares of the business’s stock in a transaction on Friday, December 22nd. The stock was sold at an average price of $598.28, for a total transaction of $19,144,960.00. Following the sale, the chief executive officer now directly owns 377,928 shares in the company, valued at approximately $226,106,763.84. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Adobe news, CEO Shantanu Narayen sold 32,000 shares of the company’s stock in a transaction dated Friday, December 22nd. The stock was sold at an average price of $598.28, for a total value of $19,144,960.00. Following the transaction, the chief executive officer now directly owns 377,928 shares in the company, valued at approximately $226,106,763.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Scott Belsky sold 2,191 shares of the company’s stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $601.71, for a total value of $1,318,346.61. Following the completion of the transaction, the executive vice president now owns 23,508 shares in the company, valued at $14,144,998.68. The disclosure for this sale can be found here. In the last three months, insiders have sold 44,162 shares of company stock worth $26,276,030. 0.15% of the stock is owned by company insiders.

Adobe Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Adobe (NASDAQ:ADBE)

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