156 Shares in Adobe Inc. (NASDAQ:ADBE) Purchased by Cetera Trust Company N.A

Cetera Trust Company N.A purchased a new position in Adobe Inc. (NASDAQ:ADBE) during the fourth quarter, Holdings Channel.com reports. The firm purchased 156 shares of the software company’s stock, valued at approximately $93,000.

Other institutional investors have also recently bought and sold shares of the company. Capital Investment Advisors LLC grew its stake in Adobe by 13.3% during the 3rd quarter. Capital Investment Advisors LLC now owns 1,980 shares of the software company’s stock valued at $1,009,000 after acquiring an additional 233 shares in the last quarter. Impact Partnership Wealth LLC grew its stake in Adobe by 459.5% during the 3rd quarter. Impact Partnership Wealth LLC now owns 235 shares of the software company’s stock valued at $120,000 after acquiring an additional 193 shares in the last quarter. 1900 Wealth Management LLC grew its stake in Adobe by 54.9% during the 3rd quarter. 1900 Wealth Management LLC now owns 2,334 shares of the software company’s stock valued at $1,190,000 after acquiring an additional 827 shares in the last quarter. Founders Financial Securities LLC grew its stake in Adobe by 42.0% during the 3rd quarter. Founders Financial Securities LLC now owns 1,706 shares of the software company’s stock valued at $870,000 after acquiring an additional 505 shares in the last quarter. Finally, B & T Capital Management DBA Alpha Capital Management purchased a new position in Adobe during the 3rd quarter valued at about $204,000. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Insider Activity

In other news, EVP Scott Belsky sold 2,191 shares of the business’s stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $601.71, for a total transaction of $1,318,346.61. Following the sale, the executive vice president now directly owns 23,508 shares in the company, valued at $14,144,998.68. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP Scott Belsky sold 2,191 shares of the business’s stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $601.71, for a total transaction of $1,318,346.61. Following the sale, the executive vice president now directly owns 23,508 shares in the company, valued at $14,144,998.68. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Mark S. Garfield sold 96 shares of the business’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $470.00, for a total value of $45,120.00. Following the sale, the chief accounting officer now owns 4,128 shares in the company, valued at $1,940,160. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,075 shares of company stock worth $1,848,418. Company insiders own 0.15% of the company’s stock.

Wall Street Analysts Forecast Growth

ADBE has been the topic of several research analyst reports. Evercore ISI reaffirmed an “outperform” rating and set a $650.00 target price on shares of Adobe in a research note on Wednesday, March 27th. Bank of America reduced their price target on Adobe from $700.00 to $640.00 and set a “buy” rating for the company in a report on Friday, March 15th. BMO Capital Markets reiterated an “outperform” rating and set a $610.00 price target on shares of Adobe in a report on Wednesday, March 27th. DA Davidson reiterated a “buy” rating and set a $685.00 price target on shares of Adobe in a report on Thursday, March 28th. Finally, BNP Paribas lowered Adobe from a “neutral” rating to an “underperform” rating and set a $499.00 price target for the company. in a report on Thursday, January 18th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and twenty have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $620.72.

Adobe Stock Up 0.4 %

Shares of ADBE stock opened at $466.89 on Tuesday. Adobe Inc. has a 12 month low of $331.89 and a 12 month high of $638.25. The firm has a market cap of $209.17 billion, a PE ratio of 44.64, a price-to-earnings-growth ratio of 2.52 and a beta of 1.28. The stock has a 50 day moving average of $524.19 and a 200-day moving average of $566.33. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.14.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Thursday, March 14th. The software company reported $4.48 EPS for the quarter, topping analysts’ consensus estimates of $4.38 by $0.10. The company had revenue of $5.18 billion during the quarter, compared to analyst estimates of $5.14 billion. Adobe had a return on equity of 39.12% and a net margin of 24.08%. The company’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same period in the previous year, the company earned $2.97 earnings per share. On average, equities analysts predict that Adobe Inc. will post 14.55 EPS for the current year.

Adobe announced that its Board of Directors has authorized a share repurchase plan on Thursday, March 14th that authorizes the company to repurchase $25.00 billion in outstanding shares. This repurchase authorization authorizes the software company to repurchase up to 10.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

About Adobe

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.