Oliver Lagore Vanvalin Investment Group Increases Holdings in Adobe Inc. (NASDAQ:ADBE)

Oliver Lagore Vanvalin Investment Group boosted its holdings in Adobe Inc. (NASDAQ:ADBE) by 52.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 1,809 shares of the software company’s stock after acquiring an additional 619 shares during the period. Oliver Lagore Vanvalin Investment Group’s holdings in Adobe were worth $1,079,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ADBE. Iron Horse Wealth Management LLC acquired a new stake in Adobe during the third quarter worth about $25,000. HBC Financial Services PLLC bought a new stake in Adobe in the third quarter valued at $25,000. Global Wealth Strategies & Associates grew its holdings in Adobe by 57.6% in the 3rd quarter. Global Wealth Strategies & Associates now owns 52 shares of the software company’s stock worth $27,000 after buying an additional 19 shares in the last quarter. Financial Freedom LLC bought a new stake in shares of Adobe in the 4th quarter worth approximately $29,000. Finally, Fortis Capital Advisors LLC acquired a new position in shares of Adobe in the 4th quarter valued at $35,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Adobe Trading Down 0.0 %

Shares of NASDAQ:ADBE traded down $0.03 during trading on Thursday, reaching $474.42. 1,231,255 shares of the company were exchanged, compared to its average volume of 3,560,092. The business’s fifty day simple moving average is $533.19 and its 200-day simple moving average is $566.97. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.05 and a quick ratio of 1.05. Adobe Inc. has a 12-month low of $331.89 and a 12-month high of $638.25. The firm has a market capitalization of $212.54 billion, a PE ratio of 45.55, a P/E/G ratio of 2.58 and a beta of 1.28.

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

Adobe announced that its board has authorized a stock buyback plan on Thursday, March 14th that permits the company to buyback $25.00 billion in outstanding shares. This buyback authorization permits the software company to reacquire up to 10.8% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on ADBE shares. BNP Paribas cut shares of Adobe from a “neutral” rating to an “underperform” rating and set a $499.00 price objective for the company. in a report on Thursday, January 18th. Piper Sandler Companies cut their price objective on Adobe from $705.00 to $700.00 and set an “overweight” rating for the company in a research report on Friday, March 15th. UBS Group cut their target price on shares of Adobe from $600.00 to $540.00 and set a “neutral” rating on the stock in a research report on Friday, March 15th. Evercore ISI restated an “outperform” rating and issued a $650.00 price target on shares of Adobe in a report on Wednesday, March 27th. Finally, TheStreet lowered shares of Adobe from a “b-” rating to a “c+” rating in a report on Tuesday, March 19th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and twenty have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $620.72.

Insider Buying and Selling

In other Adobe news, CAO Mark S. Garfield sold 788 shares of the business’s stock in a transaction dated Thursday, January 25th. The shares were 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 in the company, valued at $2,495,528.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Scott Belsky sold 2,191 shares of the stock in a transaction that occurred on Wednesday, January 24th. The shares were 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 directly owns 23,508 shares of the company’s stock, valued at approximately $14,144,998.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Mark S. Garfield sold 788 shares of the business’s stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $615.42, for a total transaction of $484,950.96. Following the sale, the chief accounting officer now directly owns 4,055 shares in the company, valued at approximately $2,495,528.10. The disclosure for this sale can be found here. Insiders sold 3,075 shares of company stock valued at $1,848,418 over the last 90 days. Corporate insiders own 0.15% of the company’s stock.

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.