Delta Asset Management LLC TN Buys 885 Shares of Adobe Inc. (NASDAQ:ADBE)

Delta Asset Management LLC TN boosted its position in shares of Adobe Inc. (NASDAQ:ADBE) by 3.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 24,907 shares of the software company’s stock after purchasing an additional 885 shares during the quarter. Adobe accounts for about 1.0% of Delta Asset Management LLC TN’s investment portfolio, making the stock its 27th biggest holding. Delta Asset Management LLC TN’s holdings in Adobe were worth $11,076,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Legacy Investment Solutions LLC bought a new position in shares of Adobe during the 3rd quarter valued at about $26,000. True Wealth Design LLC boosted its holdings in shares of Adobe by 141.7% in the third quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock valued at $30,000 after buying an additional 34 shares during the period. Decker Retirement Planning Inc. bought a new stake in shares of Adobe during the fourth quarter worth $31,000. Caitlin John LLC raised its holdings in shares of Adobe by 171.4% during the fourth quarter. Caitlin John LLC now owns 76 shares of the software company’s stock worth $34,000 after acquiring an additional 48 shares during the period. Finally, Mascoma Wealth Management LLC lifted its position in Adobe by 142.9% in the 4th quarter. Mascoma Wealth Management LLC now owns 85 shares of the software company’s stock valued at $38,000 after acquiring an additional 50 shares in the last quarter. Institutional investors own 81.79% of the company’s stock.

Insider Activity at Adobe

In other Adobe news, CFO Daniel Durn bought 1,300 shares of the firm’s stock in a transaction on 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 transaction, the chief financial officer now directly owns 29,876 shares in the company, valued at approximately $11,668,968.08. This trade represents a 4.55 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Scott Belsky sold 922 shares of Adobe stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $437.28, for a total transaction of $403,172.16. Following the completion of the sale, the executive vice president now owns 22,153 shares of the company’s stock, valued at approximately $9,687,063.84. The trade was a 4.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,075 shares of company stock worth $2,191,826. Corporate insiders own 0.16% of the company’s stock.

Adobe Trading Down 1.4 %

Shares of NASDAQ:ADBE opened at $397.81 on Thursday. The stock has a market cap of $173.21 billion, a PE ratio of 32.08, a P/E/G ratio of 2.15 and a beta of 1.37. 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 $374.50 and a 12-month high of $587.75. The business has a 50 day moving average of $433.31 and a 200-day moving average of $472.23.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings data on Wednesday, March 12th. The software company reported $5.08 EPS for the quarter, beating analysts’ consensus estimates of $4.97 by $0.11. The firm had revenue of $5.71 billion for the quarter, compared to analyst estimates 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 prior year, the firm posted $4.48 EPS. As a group, equities research analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on ADBE shares. Redburn Atlantic began coverage on Adobe in a research note on Wednesday, February 19th. They issued a “neutral” rating on the stock. StockNews.com lowered Adobe from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 4th. JPMorgan Chase & Co. reduced their price target on Adobe from $580.00 to $540.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. JMP Securities reiterated a “market perform” rating on shares of Adobe in a report on Thursday, December 12th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $530.00 target price on shares of Adobe in a report on Wednesday, March 19th. 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. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $533.85.

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.