Adobe Inc. (NASDAQ:ADBE) Shares Purchased by Cozad Asset Management Inc.

Cozad Asset Management Inc. grew its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 10.8% in the 4th quarter, Holdings Channel reports. The fund owned 1,133 shares of the software company’s stock after acquiring an additional 110 shares during the period. Cozad Asset Management Inc.’s holdings in Adobe were worth $676,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Raymond James Financial Services Advisors Inc. grew its stake in Adobe by 5.7% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 116,382 shares of the software company’s stock valued at $59,343,000 after purchasing an additional 6,270 shares in the last quarter. Capital Advisors Inc. OK grew its position in shares of Adobe by 57.1% during the third quarter. Capital Advisors Inc. OK now owns 754 shares of the software company’s stock worth $385,000 after buying an additional 274 shares in the last quarter. Stratos Wealth Partners LTD. increased its stake in shares of Adobe by 9.7% in the third quarter. Stratos Wealth Partners LTD. now owns 15,220 shares of the software company’s stock worth $7,761,000 after buying an additional 1,350 shares during the last quarter. Hanson & Doremus Investment Management grew its holdings in Adobe by 18.2% during the 3rd quarter. Hanson & Doremus Investment Management now owns 130 shares of the software company’s stock worth $66,000 after acquiring an additional 20 shares in the last quarter. Finally, Avaii Wealth Management LLC increased its position in shares of Adobe by 2.9% in the 3rd quarter. Avaii Wealth Management LLC now owns 750 shares of the software company’s stock worth $382,000 after purchasing an additional 21 shares during the last quarter. 81.79% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on ADBE shares. Wells Fargo & Company reduced their price objective on Adobe from $690.00 to $675.00 and set an “overweight” rating on the stock in a research note on Friday, March 15th. Stifel Nicolaus lowered their price objective on shares of Adobe from $650.00 to $625.00 and set a “buy” 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 report on Friday, March 15th. BMO Capital Markets reaffirmed an “outperform” rating and set a $610.00 target price on shares of Adobe in a report on Wednesday, March 27th. Finally, TheStreet lowered Adobe from a “b-” rating to a “c+” rating in a research report on Tuesday, March 19th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $620.72.

Insiders Place Their Bets

In other news, CAO Mark S. Garfield sold 97 shares of the firm’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $468.41, for a total value of $45,435.77. Following the completion of the sale, the chief accounting officer now owns 4,128 shares of the company’s stock, valued at $1,933,596.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Adobe news, CAO Mark S. Garfield sold 97 shares of Adobe stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $468.41, for a total transaction of $45,435.77. Following the completion of the sale, the chief accounting officer now owns 4,128 shares of the company’s stock, valued at approximately $1,933,596.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Mark S. Garfield sold 96 shares of the stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $470.00, for a total value of $45,120.00. Following the sale, the chief accounting officer now owns 4,128 shares of the company’s stock, valued at $1,940,160. The disclosure for this sale can be found here. Insiders sold a total of 293 shares of company stock worth $137,656 over the last ninety days. 0.15% of the stock is currently owned by company insiders.

Adobe Price Performance

Shares of NASDAQ:ADBE opened at $469.39 on Thursday. The company has a market capitalization of $210.29 billion, a PE ratio of 44.87, a price-to-earnings-growth ratio of 2.56 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. The stock has a fifty day moving average of $510.90 and a 200-day moving average of $562.78. Adobe Inc. has a one year low of $331.89 and a one year high of $638.25.

Adobe (NASDAQ:ADBE) last announced its earnings results 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 the consensus estimate of $5.14 billion. Adobe had a return on equity of 39.12% and a net margin of 24.08%. Adobe’s revenue was up 11.3% compared to the same quarter last year. During the same period in the prior year, the business posted $2.97 earnings per share. As a group, equities analysts anticipate that Adobe Inc. will post 14.55 EPS for the current fiscal year.

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