Kieckhefer Group LLC Makes New $44,000 Investment in Adobe Inc. (NASDAQ:ADBE)

Kieckhefer Group LLC bought a new position in Adobe Inc. (NASDAQ:ADBE) during the 4th quarter, Holdings Channel reports. The institutional investor bought 100 shares of the software company’s stock, valued at approximately $44,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp grew its holdings in shares of Adobe by 1.2% during the third quarter. State Street Corp now owns 20,270,287 shares of the software company’s stock valued at $10,495,544,000 after buying an additional 234,909 shares during the last quarter. Geode Capital Management LLC boosted its stake in Adobe by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 10,529,089 shares of the software company’s stock valued at $5,435,377,000 after purchasing an additional 147,981 shares during the last quarter. FMR LLC increased its holdings in shares of Adobe by 8.8% in the 3rd quarter. FMR LLC now owns 9,690,163 shares of the software company’s stock worth $5,017,373,000 after purchasing an additional 787,356 shares in the last quarter. Fisher Asset Management LLC raised its stake in shares of Adobe by 2.0% in 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 purchasing an additional 93,143 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Adobe by 3.1% during the third 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 valued at $2,455,079,000 after purchasing an additional 140,390 shares in the last quarter. 81.79% of the stock is currently owned by institutional investors.

Adobe Stock Up 0.7 %

ADBE traded up $3.01 on Monday, hitting $408.93. The company had a trading volume of 1,590,894 shares, compared to its average volume of 3,805,690. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a market capitalization of $180.01 billion, a price-to-earnings ratio of 32.98, a P/E/G ratio of 2.51 and a beta of 1.31. The stock has a fifty day moving average price of $484.01 and a 200-day moving average price of $517.00. Adobe Inc. has a 12-month low of $403.75 and a 12-month high of $638.25.

Adobe (NASDAQ:ADBE) last issued 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. Adobe had a return on equity of 45.22% and a net margin of 25.85%. The firm had revenue of $5.61 billion during the quarter, compared to analyst estimates of $5.54 billion. During the same quarter in the prior year, the business posted $3.52 EPS. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. Analysts predict that Adobe Inc. will post 16.73 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. BMO Capital Markets lowered their target price on shares of Adobe from $600.00 to $570.00 and set an “outperform” rating on the stock in a research note on Thursday, December 12th. Citigroup dropped their target price on shares of Adobe from $616.00 to $590.00 and set a “neutral” rating on the stock in a report on Monday, December 9th. Royal Bank of Canada decreased their target price on shares of Adobe from $610.00 to $590.00 and set an “outperform” rating for the company in a research note on Thursday, December 12th. Sanford C. Bernstein reduced their price objective on Adobe from $644.00 to $587.00 and set an “outperform” rating for the company in a research report on Thursday, December 12th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a research report on Thursday, December 12th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $575.85.

Insider Activity

In related news, EVP Scott Belsky sold 481 shares of the business’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $483.42, for a total transaction of $232,525.02. Following the completion of the transaction, the executive vice president now directly owns 18,128 shares in the company, valued at $8,763,437.76. The trade was a 2.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Jillian Forusz sold 676 shares of the stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $484.97, for a total value of $327,839.72. Following the sale, the chief accounting officer now directly owns 2,715 shares in the company, valued at $1,316,693.55. This represents a 19.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,293 shares of company stock valued at $1,679,809 over the last ninety days. 0.15% of the stock is currently owned by 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.