MGO One Seven LLC Acquires 791 Shares of Adobe Inc. (NASDAQ:ADBE)

MGO One Seven LLC raised its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 12.4% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 7,193 shares of the software company’s stock after acquiring an additional 791 shares during the period. MGO One Seven LLC’s holdings in Adobe were worth $3,199,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Decker Retirement Planning Inc. purchased a new stake in Adobe in the fourth quarter worth approximately $31,000. Summit Securities Group LLC bought a new position in shares of Adobe during the 4th quarter valued at $31,000. Caitlin John LLC boosted its stake in shares of Adobe by 171.4% in the 4th quarter. Caitlin John LLC now owns 76 shares of the software company’s stock worth $34,000 after buying an additional 48 shares during the last quarter. Mascoma Wealth Management LLC grew its holdings in shares of Adobe by 142.9% in the fourth quarter. Mascoma Wealth Management LLC now owns 85 shares of the software company’s stock worth $38,000 after acquiring an additional 50 shares during the period. Finally, LFA Lugano Financial Advisors SA purchased a new stake in Adobe during the fourth quarter valued at $38,000. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Adobe Trading Up 0.6 %

Shares of ADBE stock opened at $351.96 on Thursday. The company has a market cap of $150.01 billion, a PE ratio of 28.38, a price-to-earnings-growth ratio of 2.15 and a beta of 1.49. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. The stock’s 50 day simple moving average is $396.80 and its two-hundred day simple moving average is $447.18. Adobe Inc. has a 1 year low of $332.01 and a 1 year high of $587.75.

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. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The company had revenue of $5.71 billion for the quarter, compared to the consensus estimate of $5.66 billion. During the same period in the prior year, the firm posted $4.48 EPS. Research analysts predict that Adobe Inc. will post 16.65 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ADBE has been the topic of several research reports. UBS Group dropped their target price on Adobe from $410.00 to $380.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. StockNews.com downgraded shares of Adobe from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 4th. KeyCorp raised shares of Adobe from an “underweight” rating to a “sector weight” rating in a report on Friday, March 21st. Oppenheimer dropped their price target on shares of Adobe from $560.00 to $530.00 and set an “outperform” rating on the stock in a research note on Thursday, March 13th. Finally, Citigroup reduced their price objective on Adobe from $551.00 to $490.00 and set a “neutral” rating for the company in a research note on Monday, March 10th. Eleven investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Adobe currently has a consensus rating of “Moderate Buy” and a consensus price target of $502.88.

Insider Transactions at Adobe

In other news, CFO Daniel Durn purchased 1,300 shares of the business’s stock in a transaction dated Thursday, March 20th. The shares were purchased at an average price of $390.58 per share, for a total transaction of $507,754.00. Following the completion of the purchase, the chief financial officer now owns 29,876 shares in the company, valued at approximately $11,668,968.08. This represents a 4.55 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Jillian Forusz sold 334 shares of the company’s stock in a transaction dated Tuesday, January 28th. The stock was 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 directly owns 2,685 shares of the company’s stock, valued at approximately $1,170,203.55. This trade represents a 11.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,075 shares of company stock worth $2,191,826. 0.16% 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.