Decker Retirement Planning Inc. Acquires Shares of 70 Adobe Inc. (NASDAQ:ADBE)

Decker Retirement Planning Inc. purchased a new position in shares of Adobe Inc. (NASDAQ:ADBE) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 70 shares of the software company’s stock, valued at approximately $31,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC grew its stake in shares of Adobe by 66,909.7% in the 3rd quarter. International Assets Investment Management LLC now owns 1,378,390 shares of the software company’s stock valued at $713,703,000 after purchasing an additional 1,376,333 shares during the last quarter. Longview Partners Guernsey LTD acquired a new stake in shares of Adobe during the second quarter worth $663,745,000. FMR LLC grew its position in Adobe by 8.8% in the 3rd quarter. FMR LLC now owns 9,690,163 shares of the software company’s stock valued at $5,017,373,000 after buying an additional 787,356 shares during the last quarter. Assenagon Asset Management S.A. raised its position in Adobe by 42.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,168,584 shares of the software company’s stock worth $519,646,000 after buying an additional 347,536 shares during the last quarter. Finally, Erste Asset Management GmbH acquired a new stake in shares of Adobe in the 3rd quarter worth $126,703,000. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on ADBE shares. Sanford C. Bernstein dropped their price target on shares of Adobe from $644.00 to $587.00 and set an “outperform” rating on the stock in a research note on Thursday, December 12th. Jefferies Financial Group cut their target price on Adobe from $700.00 to $650.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. BMO Capital Markets decreased their price target on Adobe from $600.00 to $570.00 and set an “outperform” rating on the stock in a research note on Thursday, December 12th. StockNews.com upgraded Adobe from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 18th. Finally, JMP Securities restated a “market perform” rating on shares of Adobe in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Adobe presently has a consensus rating of “Moderate Buy” and an average price target of $573.00.

Insider Activity at Adobe

In other Adobe news, Director Amy Banse sold 606 shares of Adobe stock in a transaction 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 transaction, the director now owns 32,929 shares in the company, valued at $18,110,950. This trade represents a 1.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Scott Belsky sold 481 shares of the stock in a transaction on Friday, October 25th. The stock was sold at an average price of $483.42, for a total value 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. This trade represents a 2.58 % 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. 0.15% of the stock is currently owned by insiders.

Adobe Stock Performance

Shares of NASDAQ ADBE opened at $429.99 on Friday. The company has a 50-day simple moving average of $477.84 and a 200-day simple moving average of $513.73. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.11. The company has a market cap of $189.28 billion, a PE ratio of 34.68, a price-to-earnings-growth ratio of 1.97 and a beta of 1.31. Adobe Inc. has a 12 month low of $403.75 and a 12 month high of $638.25.

Adobe (NASDAQ:ADBE) last released its earnings results on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, topping the consensus estimate of $4.67 by $0.14. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The firm had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.54 billion. During the same period in the previous year, the company earned $3.52 EPS. Adobe’s revenue for the quarter was up 11.1% on a year-over-year basis. On average, equities analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current 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.