KLCM Advisors Inc. Purchases Shares of 1,805 Adobe Inc. (NASDAQ:ADBE)

KLCM Advisors Inc. purchased a new stake in shares of Adobe Inc. (NASDAQ:ADBE) in the fourth quarter, Holdings Channel reports. The firm purchased 1,805 shares of the software company’s stock, valued at approximately $1,077,000.

Several other institutional investors have also recently made changes to their positions in the company. One Charles Private Wealth Services LLC lifted its holdings in Adobe by 2.2% during the third quarter. One Charles Private Wealth Services LLC now owns 785 shares of the software company’s stock valued at $400,000 after purchasing an additional 17 shares during the last quarter. Invst LLC lifted its holdings in shares of Adobe by 1.9% in the third quarter. Invst LLC now owns 915 shares of the software company’s stock worth $467,000 after buying an additional 17 shares in the last quarter. Raleigh Capital Management Inc. lifted its holdings in shares of Adobe by 3.1% in the third quarter. Raleigh Capital Management Inc. now owns 559 shares of the software company’s stock worth $285,000 after buying an additional 17 shares in the last quarter. Lantz Financial LLC lifted its holdings in shares of Adobe by 2.5% in the fourth quarter. Lantz Financial LLC now owns 689 shares of the software company’s stock worth $411,000 after buying an additional 17 shares in the last quarter. Finally, B & T Capital Management DBA Alpha Capital Management lifted its holdings in shares of Adobe by 4.3% in the fourth quarter. B & T Capital Management DBA Alpha Capital Management now owns 417 shares of the software company’s stock worth $249,000 after buying an additional 17 shares in the last quarter. Institutional investors own 81.79% of the company’s stock.

Insider Buying and Selling at Adobe

In other news, CAO Mark S. Garfield sold 788 shares of Adobe stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $615.42, for a total value of $484,950.96. Following the completion of the transaction, the chief accounting officer now owns 4,055 shares of the company’s stock, valued at approximately $2,495,528.10. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, EVP Scott Belsky sold 2,191 shares of Adobe stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $601.71, for a total value of $1,318,346.61. Following the completion of the transaction, the executive vice president now owns 23,508 shares of the company’s stock, valued at approximately $14,144,998.68. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Mark S. Garfield sold 788 shares of Adobe stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $615.42, for a total value of $484,950.96. Following the completion of the transaction, the chief accounting officer now directly owns 4,055 shares of the company’s stock, valued at approximately $2,495,528.10. The disclosure for this sale can be found here. Insiders own 0.15% of the company’s stock.

Analysts Set New Price Targets

ADBE has been the topic of a number of recent analyst reports. TD Cowen lowered their price target on shares of Adobe from $650.00 to $640.00 and set an “outperform” rating on the stock in a report on Friday, March 15th. HSBC lowered their price target on shares of Adobe from $557.00 to $511.00 and set a “hold” rating on the stock in a report on Friday, March 15th. DA Davidson restated a “buy” rating and issued a $685.00 price objective on shares of Adobe in a research report on Thursday, March 28th. Barclays decreased their price objective on shares of Adobe from $700.00 to $630.00 and set an “overweight” rating on the stock in a research report on Friday, March 15th. Finally, Wells Fargo & Company decreased their price objective on shares of Adobe from $690.00 to $675.00 and set an “overweight” rating on the stock in a research report on Friday, March 15th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $620.72.

Adobe Trading Down 0.2 %

ADBE stock traded down $0.84 on Wednesday, reaching $475.38. The company’s stock had a trading volume of 1,045,003 shares, compared to its average volume of 3,577,972. The business has a fifty day simple moving average of $536.02 and a two-hundred day simple moving average of $567.62. Adobe Inc. has a 12-month low of $331.89 and a 12-month high of $638.25. The firm has a market cap of $212.97 billion, a PE ratio of 45.35, a PEG ratio of 2.55 and a beta of 1.28. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.05 and a current ratio of 1.05.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Thursday, March 14th. The software company reported $4.48 EPS for the quarter, beating the consensus estimate of $4.38 by $0.10. The business had revenue of $5.18 billion during the quarter, compared to analyst estimates of $5.14 billion. Adobe had a return on equity of 39.12% and a net margin of 24.08%. The company’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same quarter last year, the firm posted $2.97 earnings per share. As a group, research analysts forecast that Adobe Inc. will post 14.55 EPS for the current year.

Adobe announced that its board has approved a stock repurchase program on Thursday, March 14th that allows the company to repurchase $25.00 billion in shares. This repurchase authorization allows the software company to purchase up to 10.8% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Adobe 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.