Radnor Capital Management LLC Purchases New Shares in Adobe Inc. (NASDAQ:ADBE)

Radnor Capital Management LLC purchased a new stake in shares of Adobe Inc. (NASDAQ:ADBE) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 4,727 shares of the software company’s stock, valued at approximately $1,813,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ADBE. Siemens Fonds Invest GmbH increased its holdings in Adobe by 252.9% during the 4th quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company’s stock valued at $25,000 after purchasing an additional 39,888 shares in the last quarter. SWAN Capital LLC acquired a new stake in Adobe during the 4th quarter valued at $28,000. Copia Wealth Management acquired a new stake in Adobe during the 4th quarter valued at $28,000. Summit Securities Group LLC acquired a new stake in Adobe during the 4th quarter valued at $31,000. Finally, Caitlin John LLC increased its holdings in Adobe by 171.4% during the 4th quarter. Caitlin John LLC now owns 76 shares of the software company’s stock valued at $34,000 after purchasing an additional 48 shares in the last quarter. 81.79% of the stock is owned by institutional investors and hedge funds.

Adobe Stock Up 0.4%

Shares of Adobe stock opened at $416.92 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29. Adobe Inc. has a 12 month low of $332.01 and a 12 month high of $587.75. The business has a fifty day simple moving average of $381.41 and a 200 day simple moving average of $425.24. The stock has a market cap of $177.69 billion, a PE ratio of 33.62, a price-to-earnings-growth ratio of 2.15 and a beta of 1.55.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Wednesday, March 12th. The software company reported $5.08 EPS for the quarter, topping analysts’ consensus estimates of $4.97 by $0.11. The business had revenue of $5.71 billion during the quarter, compared to analysts’ expectations of $5.66 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. During the same period in the previous year, the firm earned $4.48 earnings per share. Research analysts predict that Adobe Inc. will post 16.65 EPS for the current year.

Wall Street Analyst Weigh In

ADBE has been the subject of a number of recent analyst reports. Jefferies Financial Group dropped their price target on Adobe from $650.00 to $590.00 and set a “buy” rating for the company in a report on Monday, March 31st. Redburn Atlantic initiated coverage on Adobe in a research note on Wednesday, February 19th. They issued a “neutral” rating for the company. KeyCorp raised Adobe from an “underweight” rating to a “sector weight” rating in a research note on Friday, March 21st. Summit Redstone set a $410.00 target price on Adobe in a research note on Wednesday, March 19th. Finally, UBS Group lowered their target price on Adobe from $410.00 to $380.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Eleven research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $502.88.

Insiders Place Their Bets

In other Adobe news, CFO Daniel Durn bought 1,300 shares of Adobe stock in a transaction on Thursday, March 20th. The shares were purchased at an average cost of $390.58 per share, for a total transaction of $507,754.00. Following the completion of the acquisition, the chief financial officer now owns 29,876 shares in the company, valued at approximately $11,668,968.08. The trade was a 4.55% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.16% 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.