Folger Nolan Fleming Douglas Capital Management Inc. Boosts Stock Position in Adobe Inc. (NASDAQ:ADBE)

Folger Nolan Fleming Douglas Capital Management Inc. grew its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 0.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,761 shares of the software company’s stock after buying an additional 127 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Adobe were worth $5,278,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in ADBE. Siemens Fonds Invest GmbH lifted its position in shares of Adobe by 252.9% during the 4th quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company’s stock valued at $25,000 after buying an additional 39,888 shares in the last quarter. SWAN Capital LLC purchased a new position in Adobe in the 4th quarter worth approximately $28,000. Copia Wealth Management purchased a new position in Adobe in the 4th quarter worth approximately $28,000. Summit Securities Group LLC purchased a new position in Adobe in the 4th quarter worth approximately $31,000. Finally, Bernard Wealth Management Corp. purchased a new position in Adobe in the 4th quarter worth approximately $36,000. 81.79% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Adobe

In other Adobe news, CFO Daniel Durn acquired 1,300 shares of the business’s stock in a transaction on Thursday, March 20th. The shares were bought at an average price of $390.58 per share, with a total value of $507,754.00. Following the transaction, the chief financial officer now directly owns 29,876 shares of the company’s stock, valued at $11,668,968.08. The trade was a 4.55% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. 0.16% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ADBE. Jefferies Financial Group lowered their price target on Adobe from $650.00 to $590.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Wells Fargo & Company decreased their price objective on Adobe from $600.00 to $430.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. Summit Redstone set a $410.00 price objective on Adobe in a report on Wednesday, March 19th. Evercore ISI decreased their price objective on Adobe from $650.00 to $550.00 and set an “outperform” rating on the stock in a report on Thursday, March 13th. Finally, UBS Group upped their price objective on Adobe from $380.00 to $430.00 and gave the stock a “neutral” rating in a report on Monday. Nine analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $503.33.

Adobe Stock Performance

NASDAQ ADBE opened at $413.68 on Friday. The business’s 50 day moving average price is $385.73 and its 200-day moving average price is $422.64. The company has a market cap of $176.31 billion, a P/E ratio of 33.36, a P/E/G ratio of 2.15 and a beta of 1.55. 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 Inc. has a fifty-two week low of $332.01 and a fifty-two week high of $587.75.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Wednesday, March 12th. The software company reported $5.08 EPS for the quarter, beating the consensus estimate of $4.97 by $0.11. The company had revenue of $5.71 billion for 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 quarter in the prior year, the company posted $4.48 EPS. Sell-side analysts predict that Adobe Inc. will post 16.65 earnings per share for the current year.

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.