Adobe Inc. (NASDAQ:ADBE) Shares Purchased by Taylor Hoffman Capital Management LLC

Taylor Hoffman Capital Management LLC increased its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 1.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,824 shares of the software company’s stock after purchasing an additional 205 shares during the period. Adobe accounts for 1.9% of Taylor Hoffman Capital Management LLC’s investment portfolio, making the stock its 19th largest holding. Taylor Hoffman Capital Management LLC’s holdings in Adobe were worth $5,258,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Ameritas Advisory Services LLC grew its holdings in shares of Adobe by 4.3% in the 4th quarter. Ameritas Advisory Services LLC now owns 2,939 shares of the software company’s stock worth $1,307,000 after acquiring an additional 121 shares during the period. Gilman Hill Asset Management LLC lifted its stake in shares of Adobe by 13.0% during the 4th quarter. Gilman Hill Asset Management LLC now owns 870 shares of the software company’s stock worth $387,000 after purchasing an additional 100 shares during the period. Sky Investment Group LLC increased its stake in shares of Adobe by 30.8% during the 4th quarter. Sky Investment Group LLC now owns 5,086 shares of the software company’s stock valued at $2,262,000 after acquiring an additional 1,197 shares during the last quarter. Ulland Investment Advisors LLC increased its holdings in shares of Adobe by 576.0% during the 4th quarter. Ulland Investment Advisors LLC now owns 338 shares of the software company’s stock worth $150,000 after buying an additional 288 shares during the last quarter. Finally, CMH Wealth Management LLC lifted its position in Adobe by 35.8% during the fourth quarter. CMH Wealth Management LLC now owns 17,756 shares of the software company’s stock valued at $7,896,000 after buying an additional 4,678 shares in the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Insider Buying and Selling at Adobe

In other Adobe news, CFO Daniel Durn acquired 1,300 shares of the company’s stock in a transaction that occurred on Thursday, March 20th. The shares were purchased at an average price of $390.58 per share, for a total transaction of $507,754.00. Following the completion of the purchase, the chief financial officer now directly owns 29,876 shares in the company, valued at $11,668,968.08. The trade was a 4.55% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 0.16% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

ADBE has been the subject of several recent research reports. Piper Sandler dropped their price objective on shares of Adobe from $600.00 to $500.00 and set an “overweight” rating for the company in a research report on Wednesday, April 23rd. Wells Fargo & Company dropped their price objective on shares of Adobe from $600.00 to $430.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. DA Davidson dropped their price objective on shares of Adobe from $600.00 to $450.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Evercore ISI decreased their target price on shares of Adobe from $650.00 to $550.00 and set an “outperform” rating for the company in a research note on Thursday, March 13th. Finally, Royal Bank of Canada decreased their target price on shares of Adobe from $530.00 to $480.00 and set an “outperform” rating for the company in a research note on Monday, April 14th. Eleven equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Adobe has a consensus rating of “Moderate Buy” and a consensus target price of $502.88.

Adobe Stock Down 0.7%

ADBE stock opened at $417.61 on Wednesday. Adobe Inc. has a one year low of $332.01 and a one year high of $587.75. The stock has a market capitalization of $177.99 billion, a PE ratio of 33.68, a price-to-earnings-growth ratio of 2.15 and a beta of 1.55. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07. The company has a fifty day moving average of $376.12 and a 200-day moving average of $433.08.

Adobe (NASDAQ:ADBE) last posted its earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share for the quarter, beating the consensus estimate of $4.97 by $0.11. The firm had revenue of $5.71 billion during the quarter, compared to the consensus estimate of $5.66 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. During the same period last year, the firm posted $4.48 EPS. As a group, analysts expect that Adobe Inc. will post 16.65 EPS for the current year.

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.