2,159 Shares in Adobe Inc. (NASDAQ:ADBE) Bought by GAMMA Investing LLC

GAMMA Investing LLC acquired a new position in Adobe Inc. (NASDAQ:ADBE) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 2,159 shares of the software company’s stock, valued at approximately $1,334,000.

Several other large investors also recently modified their holdings of ADBE. 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 worth $400,000 after buying an additional 17 shares during the period. Invst LLC lifted its holdings in shares of Adobe by 1.9% during the 3rd quarter. Invst LLC now owns 915 shares of the software company’s stock valued at $467,000 after purchasing an additional 17 shares during the last quarter. Raleigh Capital Management Inc. lifted its holdings in shares of Adobe by 3.1% during the 3rd quarter. Raleigh Capital Management Inc. now owns 559 shares of the software company’s stock valued at $285,000 after purchasing an additional 17 shares during the last quarter. Lantz Financial LLC lifted its holdings in shares of Adobe by 2.5% during the 4th quarter. Lantz Financial LLC now owns 689 shares of the software company’s stock valued at $411,000 after purchasing an additional 17 shares during the last quarter. Finally, B & T Capital Management DBA Alpha Capital Management lifted its holdings in shares of Adobe by 4.3% during the 4th quarter. B & T Capital Management DBA Alpha Capital Management now owns 417 shares of the software company’s stock valued at $249,000 after purchasing an additional 17 shares during the last quarter. Institutional investors own 81.79% of the company’s stock.

Insiders Place Their Bets

In other Adobe news, insider Anil Chakravarthy sold 100 shares of the business’s stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $471.00, for a total value of $47,100.00. Following the completion of the transaction, the insider now owns 33,609 shares in the company, valued at $15,829,839. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Scott Belsky sold 2,191 shares of the business’s stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $601.71, for a total transaction of $1,318,346.61. Following the completion of the transaction, the executive vice president now owns 23,508 shares in the company, valued at $14,144,998.68. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Anil Chakravarthy sold 100 shares of the business’s stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $471.00, for a total transaction of $47,100.00. Following the completion of the sale, the insider now directly owns 33,609 shares of the company’s stock, valued at $15,829,839. The disclosure for this sale can be found here. Insiders sold a total of 3,175 shares of company stock worth $1,895,518 over the last 90 days. Corporate insiders own 0.15% of the company’s stock.

Analyst Upgrades and Downgrades

ADBE has been the subject of a number of research analyst reports. Stifel Nicolaus reduced their target price on Adobe from $650.00 to $625.00 and set a “buy” rating for the company in a research note on Friday, March 15th. JPMorgan Chase & Co. reduced their target price on Adobe from $600.00 to $570.00 and set a “neutral” rating for the company in a research note on Friday, March 15th. Mizuho restated a “buy” rating and issued a $680.00 target price on shares of Adobe in a research note on Wednesday, March 27th. UBS Group cut their price target on Adobe from $600.00 to $540.00 and set a “neutral” rating on the stock in a research report on Friday, March 15th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $660.00 price target on shares of Adobe in a research report on Wednesday, March 27th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $620.72.

Adobe Trading Up 1.3 %

Shares of ADBE stock traded up $6.01 during trading on Tuesday, hitting $472.90. 2,200,448 shares of the stock traded hands, compared to its average volume of 3,540,307. Adobe Inc. has a 52-week low of $331.89 and a 52-week high of $638.25. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.05 and a quick ratio of 1.05. The firm’s fifty day moving average price is $524.19 and its 200-day moving average price is $566.33. The firm has a market capitalization of $211.86 billion, a P/E ratio of 44.88, a price-to-earnings-growth ratio of 2.52 and a beta of 1.28.

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

Adobe announced that its Board of Directors has authorized a share repurchase plan on Thursday, March 14th that authorizes the company to repurchase $25.00 billion in shares. This repurchase authorization authorizes the software company to purchase up to 10.8% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

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.