Kieckhefer Group LLC Purchases Shares of 100 Adobe Inc. (NASDAQ:ADBE)

Kieckhefer Group LLC acquired a new stake in shares of Adobe Inc. (NASDAQ:ADBE) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 100 shares of the software company’s stock, valued at approximately $44,000.

A number of other large investors have also modified their holdings of ADBE. Nordea Investment Management AB raised its holdings in shares of Adobe by 2.0% in the 4th quarter. Nordea Investment Management AB now owns 1,712,616 shares of the software company’s stock worth $765,094,000 after buying an additional 33,414 shares in the last quarter. Public Sector Pension Investment Board lifted its holdings in Adobe by 12.2% during the 3rd quarter. Public Sector Pension Investment Board now owns 19,322 shares of the software company’s stock valued at $10,005,000 after purchasing an additional 2,100 shares during the last quarter. GAMMA Investing LLC boosted its position in Adobe by 28.0% in the third quarter. GAMMA Investing LLC now owns 6,458 shares of the software company’s stock valued at $3,344,000 after buying an additional 1,412 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in shares of Adobe by 201.0% during the third quarter. Jacobs Levy Equity Management Inc. now owns 117,383 shares of the software company’s stock worth $60,779,000 after buying an additional 78,384 shares in the last quarter. Finally, Morse Asset Management Inc boosted its holdings in shares of Adobe by 33.0% in the 3rd quarter. Morse Asset Management Inc now owns 8,519 shares of the software company’s stock worth $4,411,000 after acquiring an additional 2,113 shares in the last quarter. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ADBE has been the topic of a number of research reports. Wells Fargo & Company cut their target price on shares of Adobe from $700.00 to $640.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Argus raised shares of Adobe to a “strong-buy” rating in a research note on Monday, September 16th. BMO Capital Markets cut their price target on Adobe from $600.00 to $570.00 and set an “outperform” rating on the stock in a research note on Thursday, December 12th. JMP Securities reiterated a “market perform” rating on shares of Adobe in a report on Thursday, December 12th. Finally, Jefferies Financial Group decreased their target price on Adobe from $700.00 to $650.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Adobe presently has an average rating of “Moderate Buy” and an average target price of $575.85.

Adobe Stock Up 0.7 %

NASDAQ:ADBE traded up $3.01 during trading hours on Monday, hitting $408.93. 1,590,894 shares of the company traded hands, compared to its average volume of 3,805,690. The firm’s 50-day simple moving average is $484.01 and its 200-day simple moving average is $517.00. The company has a market cap of $180.01 billion, a PE ratio of 32.98, a PEG ratio of 2.51 and a beta of 1.31. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.28. Adobe Inc. has a one year low of $403.75 and a one year high of $638.25.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, beating the consensus estimate of $4.67 by $0.14. The business had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $5.54 billion. Adobe had a net margin of 25.85% and a return on equity of 45.22%. The company’s revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.52 earnings per share. Equities analysts predict that Adobe Inc. will post 16.73 earnings per share for the current year.

Insider Activity at Adobe

In related news, CAO Jillian Forusz sold 676 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $484.97, for a total transaction of $327,839.72. Following the transaction, the chief accounting officer now directly owns 2,715 shares of the company’s stock, valued at approximately $1,316,693.55. This trade represents a 19.94 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Scott Belsky sold 481 shares of Adobe stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $483.42, for a total transaction of $232,525.02. Following the transaction, the executive vice president now directly owns 18,128 shares in the company, valued at $8,763,437.76. This trade represents a 2.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,293 shares of company stock valued at $1,679,809. 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.