LFA Lugano Financial Advisors SA Makes New Investment in Adobe Inc. (NASDAQ:ADBE)

LFA Lugano Financial Advisors SA bought a new stake in Adobe Inc. (NASDAQ:ADBE) in the fourth quarter, HoldingsChannel.com reports. The firm bought 85 shares of the software company’s stock, valued at approximately $38,000.

Several other institutional investors and hedge funds have also modified their holdings of ADBE. Mascoma Wealth Management LLC boosted its holdings 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 purchasing an additional 50 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Adobe by 1,385.4% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 111,269 shares of the software company’s stock valued at $49,479,000 after buying an additional 103,778 shares in the last quarter. Rakuten Securities Inc. lifted its position in shares of Adobe by 75.0% during the 4th quarter. Rakuten Securities Inc. now owns 1,111 shares of the software company’s stock valued at $494,000 after acquiring an additional 476 shares during the period. Essential Planning LLC. bought a new stake in Adobe during the fourth quarter worth about $7,094,000. Finally, Great Lakes Advisors LLC boosted its position in shares of Adobe by 76.8% during the 4th quarter. Great Lakes Advisors LLC now owns 21,381 shares of the software company’s stock worth $9,508,000 after acquiring an additional 9,289 shares in the last quarter. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Adobe Trading Up 1.1 %

NASDAQ:ADBE opened at $438.60 on Thursday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. Adobe Inc. has a one year low of $403.75 and a one year high of $587.75. The company has a market cap of $190.97 billion, a PE ratio of 35.37, a PEG ratio of 2.15 and a beta of 1.37. The firm has a 50-day moving average of $439.01 and a 200-day moving average of $484.54.

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

Wall Street Analyst Weigh In

ADBE has been the subject of several research analyst reports. Barclays lowered their price objective on shares of Adobe from $675.00 to $645.00 and set an “overweight” rating for the company in a research report on Thursday, December 12th. Redburn Atlantic initiated coverage on Adobe in a research report on Wednesday, February 19th. They issued a “neutral” rating on the stock. Sanford C. Bernstein dropped their target price on Adobe from $644.00 to $587.00 and set an “outperform” rating for the company in a research report on Thursday, December 12th. Bank of America decreased their price target on Adobe from $640.00 to $605.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a research note on Thursday, December 12th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Adobe has a consensus rating of “Moderate Buy” and an average target price of $563.96.

Insider Buying and Selling at Adobe

In other Adobe news, CAO Jillian Forusz sold 334 shares of Adobe stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $435.83, for a total transaction of $145,567.22. Following the transaction, the chief accounting officer now owns 2,685 shares of the company’s stock, valued at $1,170,203.55. This trade represents a 11.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David A. Ricks bought 2,250 shares of Adobe stock in a transaction dated Tuesday, January 28th. The stock was acquired at an average cost of $443.98 per share, with a total value of $998,955.00. Following the completion of the acquisition, the director now owns 4,984 shares of the company’s stock, valued at $2,212,796.32. This represents a 82.30 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have sold 5,075 shares of company stock worth $2,191,826. Corporate insiders own 0.15% of the company’s stock.

About Adobe

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.