DGS Capital Management LLC Purchases 91 Shares of Adobe Inc. (NASDAQ:ADBE)

DGS Capital Management LLC grew its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 5.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,862 shares of the software company’s stock after purchasing an additional 91 shares during the period. DGS Capital Management LLC’s holdings in Adobe were worth $1,111,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of ADBE. One Charles Private Wealth Services LLC raised its holdings in Adobe by 2.2% in 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 last quarter. Invst LLC raised its holdings in shares of Adobe by 1.9% during the third 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. raised its holdings in shares of Adobe by 3.1% during the third 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 raised its holdings in shares of Adobe by 2.5% during the fourth 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 raised its holdings in shares of Adobe by 4.3% during the fourth 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.

Adobe Stock Performance

Shares of Adobe stock traded up $4.99 during midday trading on Tuesday, hitting $475.09. The company had a trading volume of 1,106,624 shares, compared to its average volume of 3,590,277. The stock has a market cap of $212.84 billion, a price-to-earnings ratio of 45.19, a PEG ratio of 2.57 and a beta of 1.28. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.14. The company has a fifty day simple moving average of $538.63 and a 200 day simple moving average of $567.86. Adobe Inc. has a 12-month low of $331.89 and a 12-month high of $638.25.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data 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 firm had revenue of $5.18 billion during the quarter, compared to analyst estimates of $5.14 billion. Adobe had a net margin of 24.08% and a return on equity of 39.12%. Adobe’s revenue was up 11.3% on a year-over-year basis. During the same period last year, the firm posted $2.97 EPS. As a group, analysts predict that Adobe Inc. will post 14.55 earnings per share for the current fiscal year.

Adobe declared that its Board of Directors has authorized a stock repurchase 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 buy up to 10.8% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ADBE. Bank of America cut their target price on shares of Adobe from $700.00 to $640.00 and set a “buy” rating for the company in a research report on Friday, March 15th. TheStreet lowered shares of Adobe from a “b-” rating to a “c+” rating in a research report on Tuesday, March 19th. JMP Securities restated a “market perform” rating on shares of Adobe in a research report on Thursday, March 28th. BMO Capital Markets reiterated an “outperform” rating and issued a $610.00 price target on shares of Adobe in a research report on Wednesday, March 27th. Finally, BNP Paribas lowered shares of Adobe from a “neutral” rating to an “underperform” rating and set a $499.00 price target for the company. in a research report on Thursday, January 18th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat.com, Adobe 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 788 shares of Adobe stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $615.42, for a total transaction of $484,950.96. Following the completion of the transaction, the chief accounting officer now directly owns 4,055 shares of the company’s stock, valued at approximately $2,495,528.10. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CAO Mark S. Garfield sold 788 shares of Adobe stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $615.42, for a total transaction of $484,950.96. Following the completion of the transaction, the chief accounting officer now directly owns 4,055 shares of the company’s stock, valued at approximately $2,495,528.10. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Scott Belsky sold 2,191 shares of Adobe stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $601.71, for a total transaction of $1,318,346.61. Following the sale, the executive vice president now directly owns 23,508 shares in the company, valued at approximately $14,144,998.68. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,063 shares of company stock valued at $1,853,025. 0.15% of the stock is owned by insiders.

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.