Avior Wealth Management LLC Purchases 520 Shares of Adobe Inc. (NASDAQ:ADBE)

Avior Wealth Management LLC raised its position in Adobe Inc. (NASDAQ:ADBE) by 65.9% in the 4th quarter, Holdings Channel.com reports. The fund owned 1,309 shares of the software company’s stock after acquiring an additional 520 shares during the quarter. Avior Wealth Management LLC’s holdings in Adobe were worth $582,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Mackenzie Financial Corp increased its position in Adobe by 0.7% during the 2nd quarter. Mackenzie Financial Corp now owns 67,062 shares of the software company’s stock valued at $37,256,000 after buying an additional 451 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Adobe during the second quarter worth about $44,002,000. Ninepoint Partners LP increased its holdings in shares of Adobe by 7.6% during the second quarter. Ninepoint Partners LP now owns 1,306 shares of the software company’s stock valued at $726,000 after acquiring an additional 92 shares in the last quarter. Peloton Wealth Strategists raised its position in shares of Adobe by 19.6% in the 2nd quarter. Peloton Wealth Strategists now owns 3,752 shares of the software company’s stock valued at $2,084,000 after purchasing an additional 615 shares during the last quarter. Finally, Oliver Lagore Vanvalin Investment Group boosted its stake in Adobe by 41.9% in the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 4,866 shares of the software company’s stock worth $2,703,000 after purchasing an additional 1,438 shares in the last quarter. 81.79% of the stock is owned by institutional investors and hedge funds.

Adobe Stock Performance

Shares of NASDAQ:ADBE opened at $435.38 on Friday. The business’s 50 day moving average price is $468.14 and its 200-day moving average price is $508.06. Adobe Inc. has a 1 year low of $403.75 and a 1 year high of $638.25. 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 firm has a market capitalization of $189.52 billion, a PE ratio of 35.11, a P/E/G ratio of 2.12 and a beta of 1.31.

Adobe (NASDAQ:ADBE) last issued its earnings results on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, beating analysts’ consensus estimates of $4.67 by $0.14. The business had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.54 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the business earned $3.52 earnings per share. As a group, equities research analysts expect that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on ADBE shares. JMP Securities restated a “market perform” rating on shares of Adobe in a research note on Thursday, December 12th. StockNews.com downgraded Adobe from a “strong-buy” rating to a “buy” rating in a research report on Monday, January 20th. BNP Paribas raised Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 price target for the company in a research report on Wednesday, January 15th. Sanford C. Bernstein reduced their price objective on Adobe from $644.00 to $587.00 and set an “outperform” rating for the company in a research note on Thursday, December 12th. Finally, Stifel Nicolaus decreased their target price on Adobe from $650.00 to $600.00 and set a “buy” rating for the company in a report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $573.00.

Insider Buying and Selling

In other news, CAO Jillian Forusz sold 676 shares of Adobe 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 sale, the chief accounting officer now owns 2,715 shares of the company’s stock, valued at approximately $1,316,693.55. The trade was a 19.94 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 completion of the sale, the director now owns 32,929 shares in the company, valued at $18,110,950. This represents a 1.81 % decrease in their position. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by company insiders.

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.