Outlook Wealth Advisors LLC Buys 122 Shares of Adobe Inc. (NASDAQ:ADBE)

Outlook Wealth Advisors LLC increased its position in shares of Adobe Inc. (NASDAQ:ADBE) by 13.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,006 shares of the software company’s stock after acquiring an additional 122 shares during the quarter. Outlook Wealth Advisors LLC’s holdings in Adobe were worth $447,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Legacy Investment Solutions LLC bought a new position in shares of Adobe during the third quarter worth $26,000. Piscataqua Savings Bank lifted its holdings in Adobe by 226.7% during the third quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock worth $25,000 after acquiring an additional 34 shares in the last quarter. MidAtlantic Capital Management Inc. acquired a new position in Adobe in the third quarter valued at about $30,000. True Wealth Design LLC increased its holdings in shares of Adobe by 141.7% in the third quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock worth $30,000 after acquiring an additional 34 shares in the last quarter. Finally, Briaud Financial Planning Inc acquired a new stake in shares of Adobe during the third quarter worth about $36,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on ADBE shares. Barclays lowered their target price on Adobe from $675.00 to $645.00 and set an “overweight” rating for the company in a research note on Thursday, December 12th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $475.00 target price (down previously from $600.00) on shares of Adobe in a report on Wednesday, January 8th. Bank of America cut their price target on Adobe from $640.00 to $605.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Mizuho decreased their price objective on Adobe from $640.00 to $620.00 and set an “outperform” rating for the company in a report on Thursday, December 12th. Finally, UBS Group cut their target price on Adobe from $525.00 to $475.00 and set a “neutral” rating on the stock in a research note on Friday, January 3rd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $573.00.

Adobe Price Performance

Shares of NASDAQ ADBE opened at $417.28 on Thursday. The firm has a market cap of $183.69 billion, a P/E ratio of 33.65, a price-to-earnings-growth ratio of 2.51 and a beta of 1.31. The business’s 50 day moving average is $481.07 and its 200-day moving average is $515.02. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.28. Adobe Inc. has a 1-year low of $403.75 and a 1-year high of $638.25.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 earnings per share for the quarter, topping the consensus estimate of $4.67 by $0.14. The firm had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.54 billion. Adobe had a return on equity of 45.22% and a net margin of 25.85%. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the business earned $3.52 EPS. Equities research analysts predict that Adobe Inc. will post 16.73 earnings per share for the current year.

Insider Activity at Adobe

In other news, Director Amy Banse sold 606 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $550.00, for a total value of $333,300.00. Following the completion of the transaction, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Jillian Forusz sold 676 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $484.97, for a total transaction of $327,839.72. Following the transaction, the chief accounting officer now owns 2,715 shares of the company’s stock, valued at approximately $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. Over the last ninety days, insiders sold 1,763 shares of company stock worth $893,665. Company insiders own 0.15% of the company’s stock.

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.