Hutchens & Kramer Investment Management Group LLC Acquires 51 Shares of Adobe Inc. (NASDAQ:ADBE)

Hutchens & Kramer Investment Management Group LLC boosted its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 10.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 557 shares of the software company’s stock after buying an additional 51 shares during the period. Hutchens & Kramer Investment Management Group LLC’s holdings in Adobe were worth $248,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Onyx Bridge Wealth Group LLC boosted its stake in Adobe by 4.0% during the third quarter. Onyx Bridge Wealth Group LLC now owns 526 shares of the software company’s stock valued at $272,000 after buying an additional 20 shares during the period. Connable Office Inc. boosted its stake in Adobe by 0.5% during the third quarter. Connable Office Inc. now owns 3,732 shares of the software company’s stock valued at $1,932,000 after buying an additional 20 shares during the period. 1ST Source Bank raised its position in Adobe by 0.7% during the third quarter. 1ST Source Bank now owns 2,889 shares of the software company’s stock valued at $1,496,000 after purchasing an additional 20 shares in the last quarter. Next Capital Management LLC raised its position in Adobe by 3.2% during the second quarter. Next Capital Management LLC now owns 678 shares of the software company’s stock valued at $377,000 after purchasing an additional 21 shares in the last quarter. Finally, James J. Burns & Company LLC raised its position in Adobe by 5.6% during the third quarter. James J. Burns & Company LLC now owns 415 shares of the software company’s stock valued at $215,000 after purchasing an additional 22 shares in the last quarter. Institutional investors own 81.79% of the company’s stock.

Adobe Stock Up 0.7 %

Shares of NASDAQ:ADBE opened at $438.59 on Tuesday. Adobe Inc. has a 52-week low of $403.75 and a 52-week high of $638.25. The firm has a market capitalization of $190.92 billion, a P/E ratio of 35.37, a P/E/G ratio of 2.12 and a beta of 1.31. The stock has a 50 day moving average price of $468.14 and a 200-day moving average price of $507.26. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07.

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

Insider Activity

In related news, Director Amy Banse sold 606 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 32,929 shares in the company, valued at $18,110,950. The trade was a 1.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.15% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on ADBE shares. Oppenheimer lowered their price target on Adobe from $625.00 to $600.00 and set an “outperform” rating on the stock in a research report on Thursday, December 12th. StockNews.com upgraded Adobe from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Piper Sandler lowered their price target on Adobe from $635.00 to $600.00 and set an “overweight” rating on the stock in a research report on Thursday, December 12th. JMP Securities restated a “market perform” rating on shares of Adobe in a research report on Thursday, December 12th. Finally, DA Davidson lowered their price target on Adobe from $685.00 to $625.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Adobe currently has a consensus rating of “Moderate Buy” and an average target price of $573.00.

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.