Kohmann Bosshard Financial Services LLC Takes $58,000 Position in Adobe Inc. (NASDAQ:ADBE)

Kohmann Bosshard Financial Services LLC purchased a new stake in Adobe Inc. (NASDAQ:ADBE) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 130 shares of the software company’s stock, valued at approximately $58,000.

Other hedge funds also recently made changes to their positions in the company. Swedbank AB boosted its position in Adobe by 0.3% during the 3rd quarter. Swedbank AB now owns 1,196,175 shares of the software company’s stock worth $619,355,000 after buying an additional 3,739 shares during the period. Chicago Partners Investment Group LLC boosted its position in Adobe by 3.3% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 2,902 shares of the software company’s stock worth $1,408,000 after buying an additional 93 shares during the period. Princeton Global Asset Management LLC acquired a new stake in Adobe during the 3rd quarter worth approximately $53,000. Janney Montgomery Scott LLC boosted its position in Adobe by 0.4% during the 3rd quarter. Janney Montgomery Scott LLC now owns 97,316 shares of the software company’s stock worth $50,388,000 after buying an additional 364 shares during the period. Finally, Blue Square Asset Management LLC boosted its position in Adobe by 3.6% during the 3rd quarter. Blue Square Asset Management LLC now owns 4,942 shares of the software company’s stock worth $2,559,000 after buying an additional 174 shares during the period. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Adobe Price Performance

NASDAQ ADBE opened at $440.72 on Tuesday. The company has a market cap of $191.85 billion, a PE ratio of 35.54, a price-to-earnings-growth ratio of 2.15 and a beta of 1.31. Adobe Inc. has a 52 week low of $403.75 and a 52 week high of $587.75. 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 firm’s 50-day simple moving average is $439.59 and its two-hundred day simple moving average is $489.79.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, beating the consensus estimate of $4.67 by $0.14. The business had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $5.54 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The company’s revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.52 earnings per share. Research analysts predict that Adobe Inc. will post 16.65 earnings per share for the current year.

Analysts Set New Price Targets

ADBE has been the topic of several recent research reports. Wells Fargo & Company cut their target price on shares of Adobe from $700.00 to $640.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Bank of America cut their target price on shares of Adobe from $640.00 to $605.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. UBS Group cut their target price on shares of Adobe from $525.00 to $475.00 and set a “neutral” rating on the stock in a research report on Friday, January 3rd. Barclays dropped their price target on shares of Adobe from $675.00 to $645.00 and set an “overweight” rating on the stock in a research report on Thursday, December 12th. Finally, Mizuho decreased their price objective on shares of Adobe from $640.00 to $620.00 and set an “outperform” rating for the company in a research report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Adobe presently has an average rating of “Moderate Buy” and a consensus price target of $570.88.

Insider Transactions at Adobe

In other news, EVP Scott Belsky sold 3,819 shares of the stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $430.24, for a total value of $1,643,086.56. Following the sale, the executive vice president now directly owns 18,334 shares of the company’s stock, valued at approximately $7,888,020.16. This represents a 17.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Amy Banse sold 606 shares of the stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $550.00, for a total transaction of $333,300.00. Following the completion of the sale, the director now directly owns 32,929 shares in the company, valued at approximately $18,110,950. The trade was a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,681 shares of company stock valued at $2,525,126. 0.15% of the stock is currently owned by corporate insiders.

Adobe 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.