Paragon Capital Management LLC Has $209,000 Stake in Adobe Inc. (NASDAQ:ADBE)

Paragon Capital Management LLC decreased its position in shares of Adobe Inc. (NASDAQ:ADBE) by 16.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 470 shares of the software company’s stock after selling 91 shares during the period. Paragon Capital Management LLC’s holdings in Adobe were worth $209,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Legacy Investment Solutions LLC acquired a new stake in shares of Adobe in the third quarter valued at approximately $26,000. Groupama Asset Managment increased its holdings in shares of Adobe by 28.8% in the third quarter. Groupama Asset Managment now owns 51,482 shares of the software company’s stock valued at $27,000 after purchasing an additional 11,522 shares in the last quarter. True Wealth Design LLC increased 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 purchasing an additional 34 shares in the last quarter. Decker Retirement Planning Inc. acquired a new stake in shares of Adobe in the fourth quarter valued at approximately $31,000. Finally, Caitlin John LLC increased its holdings in shares of Adobe by 171.4% in the fourth quarter. Caitlin John LLC now owns 76 shares of the software company’s stock valued at $34,000 after purchasing an additional 48 shares in the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on ADBE shares. Royal Bank of Canada reissued an “outperform” rating and issued a $530.00 price target on shares of Adobe in a report on Wednesday. UBS Group set a $495.00 price objective on shares of Adobe in a research note on Thursday, March 13th. BNP Paribas raised shares of Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 price objective on the stock in a research note on Wednesday, January 15th. Oppenheimer reduced their price objective on shares of Adobe from $560.00 to $530.00 and set an “outperform” rating on the stock in a research note on Thursday, March 13th. Finally, Bank of America reduced their price objective on shares of Adobe from $605.00 to $528.00 and set a “buy” rating on the stock in a research note on Thursday, March 13th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $538.80.

Adobe Stock Up 0.4 %

Shares of ADBE stock opened at $389.61 on Friday. The firm has a market capitalization of $169.64 billion, a P/E ratio of 31.42, a PEG ratio of 2.15 and a beta of 1.37. The firm’s fifty day moving average price is $434.53 and its two-hundred day moving average price is $477.76. Adobe Inc. has a 1 year low of $374.50 and a 1 year high of $587.75. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Wednesday, March 12th. The software company reported $5.08 earnings per share for the quarter, topping the consensus estimate of $4.97 by $0.11. The company had revenue of $5.71 billion for the quarter, compared to analyst estimates of $5.66 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. During the same period in the previous year, the business earned $4.48 EPS. On average, equities analysts predict that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Insider Transactions at Adobe

In other news, EVP Scott Belsky sold 3,819 shares of the business’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $430.24, for a total transaction of $1,643,086.56. Following the transaction, the executive vice president now directly owns 18,334 shares in the company, valued at $7,888,020.16. The trade was a 17.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Jillian Forusz sold 334 shares of Adobe stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total transaction of $145,567.22. Following the sale, the chief accounting officer now directly owns 2,685 shares of the company’s stock, valued at $1,170,203.55. The trade was a 11.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,075 shares of company stock worth $2,191,826 in the last ninety days. Insiders own 0.16% of the company’s stock.

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.