Adobe Inc. (NASDAQ:ADBE) Shares Acquired by Well Done LLC

Well Done LLC lifted its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 23.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 512 shares of the software company’s stock after acquiring an additional 96 shares during the period. Well Done LLC’s holdings in Adobe were worth $305,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Iron Horse Wealth Management LLC acquired a new position in Adobe during the third quarter worth approximately $25,000. HBC Financial Services PLLC acquired a new position in Adobe during the third quarter worth approximately $25,000. Global Wealth Strategies & Associates increased its position in Adobe by 57.6% during the third quarter. Global Wealth Strategies & Associates now owns 52 shares of the software company’s stock worth $27,000 after buying an additional 19 shares during the period. Financial Freedom LLC acquired a new position in Adobe during the fourth quarter worth approximately $29,000. Finally, Halpern Financial Inc. increased its position in Adobe by 314.3% during the third quarter. Halpern Financial Inc. now owns 58 shares of the software company’s stock worth $30,000 after buying an additional 44 shares during the period. Institutional investors and hedge funds own 81.79% of the company’s stock.

Insider Transactions at Adobe

In other news, insider David Wadhwani sold 6,099 shares of the firm’s stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $571.77, for a total value of $3,487,225.23. Following the transaction, the insider now directly owns 7,614 shares in the company, valued at approximately $4,353,456.78. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider David Wadhwani sold 6,099 shares of the stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $571.77, for a total value of $3,487,225.23. Following the completion of the sale, the insider now owns 7,614 shares in the company, valued at $4,353,456.78. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Mark S. Garfield sold 788 shares of the 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 sale, the chief accounting officer now 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 have sold a total of 9,162 shares of company stock worth $5,340,250 in the last three months. 0.15% of the stock is currently owned by company insiders.

Adobe Trading Down 0.2 %

NASDAQ ADBE traded down $0.91 during trading hours on Thursday, hitting $503.49. 2,217,756 shares of the company’s stock were exchanged, compared to its average volume of 3,651,567. The business’s 50 day moving average is $573.39 and its 200-day moving average is $571.57. The firm has a market capitalization of $227.85 billion, a P/E ratio of 48.02, a price-to-earnings-growth ratio of 2.75 and a beta of 1.29. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.34 and a current ratio of 1.05. Adobe Inc. has a 12-month low of $331.89 and a 12-month high of $638.25.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Thursday, March 14th. The software company reported $4.48 EPS for the quarter, topping analysts’ consensus estimates of $4.38 by $0.10. The company had revenue of $5.18 billion for 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%. The company’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same period last year, the business posted $2.97 EPS. As a group, analysts anticipate that Adobe Inc. will post 14.57 EPS for the current fiscal year.

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

Analysts Set New Price Targets

A number of research analysts have recently issued reports on ADBE shares. KeyCorp started coverage on Adobe in a report on Thursday, March 21st. They issued an “underweight” rating and a $445.00 target price on the stock. BNP Paribas downgraded Adobe from a “neutral” rating to an “underperform” rating and set a $499.00 price target on the stock. in a research note on Thursday, January 18th. UBS Group decreased their price target on Adobe from $600.00 to $540.00 and set a “neutral” rating on the stock in a research note on Friday, March 15th. Oppenheimer restated an “outperform” rating and issued a $660.00 price target on shares of Adobe in a research note on Wednesday. Finally, Stifel Nicolaus decreased their price target on Adobe from $650.00 to $625.00 and set a “buy” rating on the stock in a research note on Friday, March 15th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and twenty-one have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $620.72.

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.