DecisionMap Wealth Management LLC Takes $660,000 Position in Adobe Inc. (NASDAQ:ADBE)

DecisionMap Wealth Management LLC bought a new position in shares of Adobe Inc. (NASDAQ:ADBE) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 1,485 shares of the software company’s stock, valued at approximately $660,000.

Other large investors have also added to or reduced their stakes in the company. Nordea Investment Management AB boosted its holdings in Adobe by 2.0% during the fourth quarter. Nordea Investment Management AB now owns 1,712,616 shares of the software company’s stock worth $765,094,000 after purchasing an additional 33,414 shares during the last quarter. Arizona State Retirement System boosted its holdings in Adobe by 0.4% during the fourth quarter. Arizona State Retirement System now owns 127,696 shares of the software company’s stock worth $56,784,000 after purchasing an additional 570 shares during the last quarter. Public Sector Pension Investment Board boosted its holdings in Adobe by 12.2% during the third quarter. Public Sector Pension Investment Board now owns 19,322 shares of the software company’s stock worth $10,005,000 after purchasing an additional 2,100 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in Adobe by 201.0% during the third quarter. Jacobs Levy Equity Management Inc. now owns 117,383 shares of the software company’s stock worth $60,779,000 after purchasing an additional 78,384 shares during the last quarter. Finally, Morse Asset Management Inc boosted its holdings in Adobe by 33.0% during the third quarter. Morse Asset Management Inc now owns 8,519 shares of the software company’s stock worth $4,411,000 after purchasing an additional 2,113 shares during the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Insiders Place Their Bets

In other news, Director David A. Ricks acquired 2,250 shares of Adobe stock in a transaction on Tuesday, January 28th. The shares were purchased at an average cost of $443.98 per share, for a total transaction of $998,955.00. Following the completion of the purchase, the director now directly owns 4,984 shares of the company’s stock, valued at approximately $2,212,796.32. This represents a 82.30 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Jillian Forusz sold 334 shares of the firm’s stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $435.83, for a total transaction of $145,567.22. Following the completion of the sale, the chief accounting officer now owns 2,685 shares in the company, valued at approximately $1,170,203.55. The trade was a 11.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,075 shares of company stock worth $2,191,826 over the last ninety days. Corporate insiders own 0.15% of the company’s stock.

Adobe Price Performance

NASDAQ:ADBE opened at $438.60 on Thursday. The firm has a market cap of $190.97 billion, a price-to-earnings ratio of 35.37, a P/E/G ratio of 2.15 and a beta of 1.37. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07. Adobe Inc. has a 52 week low of $403.75 and a 52 week high of $587.75. The firm’s 50-day simple moving average is $439.01 and its 200 day simple moving average is $484.54.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Wednesday, March 12th. The software company reported $5.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.97 by $0.11. The firm had revenue of $5.71 billion for 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 period in the prior year, the company posted $4.48 earnings per share. As a group, sell-side analysts predict that Adobe Inc. will post 16.65 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ADBE. JMP Securities restated a “market perform” rating on shares of Adobe in a report on Thursday, December 12th. DA Davidson reduced their target price on shares of Adobe from $685.00 to $625.00 and set a “buy” rating for the company in a report on Thursday, December 12th. Jefferies Financial Group dropped their price target on shares of Adobe from $700.00 to $650.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Citigroup dropped their price target on shares of Adobe from $551.00 to $490.00 and set a “neutral” rating on the stock in a research report on Monday. Finally, BNP Paribas raised shares of Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 price target on the stock in a research report on Wednesday, January 15th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $563.96.

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.