641 Shares in Adobe Inc. (NASDAQ:ADBE) Purchased by Retirement Planning Co of New England Inc.

Retirement Planning Co of New England Inc. acquired a new position in shares of Adobe Inc. (NASDAQ:ADBE) during the 4th quarter, HoldingsChannel reports. The firm acquired 641 shares of the software company’s stock, valued at approximately $285,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. State Street Corp raised its stake in Adobe by 1.2% during the third quarter. State Street Corp now owns 20,270,287 shares of the software company’s stock worth $10,495,544,000 after acquiring an additional 234,909 shares during the period. Geode Capital Management LLC raised its stake in Adobe by 1.4% during the third quarter. Geode Capital Management LLC now owns 10,529,089 shares of the software company’s stock worth $5,435,377,000 after acquiring an additional 147,981 shares during the period. FMR LLC raised its stake in Adobe by 8.8% during the third quarter. FMR LLC now owns 9,690,163 shares of the software company’s stock worth $5,017,373,000 after acquiring an additional 787,356 shares during the period. Fisher Asset Management LLC raised its stake in Adobe by 2.0% during the third quarter. Fisher Asset Management LLC now owns 4,859,584 shares of the software company’s stock worth $2,516,196,000 after acquiring an additional 93,143 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Adobe by 3.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,741,549 shares of the software company’s stock worth $2,455,079,000 after purchasing an additional 140,390 shares during the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Insider Activity at Adobe

In related news, Director David A. Ricks bought 2,250 shares of the business’s stock in a transaction on Tuesday, January 28th. The stock was bought at an average price of $443.98 per share, for a total transaction of $998,955.00. Following the transaction, the director now directly owns 4,984 shares in the company, valued at $2,212,796.32. This represents a 82.30 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Scott Belsky sold 922 shares of the stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $437.28, for a total transaction of $403,172.16. Following the completion of the sale, the executive vice president now owns 22,153 shares of the company’s stock, valued at approximately $9,687,063.84. The trade was a 4.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,075 shares of company stock worth $2,191,826. 0.16% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

ADBE has been the subject of several recent analyst reports. UBS Group decreased their target price on shares of Adobe from $475.00 to $460.00 and set a “neutral” rating for the company in a research report on Thursday, March 13th. Citigroup decreased their target price on shares of Adobe from $551.00 to $490.00 and set a “neutral” rating for the company in a research report on Monday, March 10th. Bank of America decreased their target price on shares of Adobe from $605.00 to $528.00 and set a “buy” rating for the company in a research report on Thursday, March 13th. Wells Fargo & Company decreased their target price on shares of Adobe from $640.00 to $600.00 and set an “overweight” rating for the company in a research report on Friday, March 7th. Finally, Mizuho decreased their target price 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. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $540.60.

Adobe Trading Up 1.2 %

Shares of NASDAQ:ADBE opened at $399.34 on Tuesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07. The stock has a market capitalization of $173.88 billion, a price-to-earnings ratio of 32.20, a PEG ratio of 2.15 and a beta of 1.37. Adobe Inc. has a 1-year low of $374.50 and a 1-year high of $587.75. The company has a 50 day moving average price of $436.39 and a 200 day moving average price of $480.30.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Wednesday, March 12th. The software company reported $5.08 EPS for the quarter, beating the consensus estimate of $4.97 by $0.11. The business had revenue of $5.71 billion during the quarter, compared to the consensus estimate 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 prior year, the firm earned $4.48 EPS. On average, research analysts anticipate that Adobe Inc. will post 16.65 EPS for the current fiscal year.

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.