Adobe Inc. (NASDAQ:ADBE) Shares Acquired by Capital Management Associates NY

Capital Management Associates NY grew its position in Adobe Inc. (NASDAQ:ADBE) by 31.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,495 shares of the software company’s stock after purchasing an additional 600 shares during the quarter. Adobe makes up 1.4% of Capital Management Associates NY’s investment portfolio, making the stock its 25th largest position. Capital Management Associates NY’s holdings in Adobe were worth $1,248,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Pillar Pacific Capital Management LLC raised its stake in Adobe by 24.4% during the 4th quarter. Pillar Pacific Capital Management LLC now owns 4,261 shares of the software company’s stock worth $2,131,000 after acquiring an additional 835 shares in the last quarter. Mawer Investment Management Ltd. raised its stake in Adobe by 29.2% during the 4th quarter. Mawer Investment Management Ltd. now owns 49,874 shares of the software company’s stock worth $24,943,000 after acquiring an additional 11,275 shares in the last quarter. Stanley Laman Group Ltd. raised its stake in Adobe by 2.4% during the 4th quarter. Stanley Laman Group Ltd. now owns 25,324 shares of the software company’s stock worth $12,665,000 after acquiring an additional 588 shares in the last quarter. Cobblestone Capital Advisors LLC NY raised its stake in Adobe by 2.6% during the 4th quarter. Cobblestone Capital Advisors LLC NY now owns 884 shares of the software company’s stock worth $442,000 after acquiring an additional 22 shares in the last quarter. Finally, SeaCrest Wealth Management LLC grew its position in Adobe by 2.2% during the 4th quarter. SeaCrest Wealth Management LLC now owns 15,113 shares of the software company’s stock worth $7,558,000 after purchasing an additional 332 shares during the last quarter. Institutional investors and hedge funds own 82.43% of the company’s stock.

In other news, EVP Abhay Parasnis sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, February 10th. The shares were sold at an average price of $499.17, for a total transaction of $1,996,680.00. Following the completion of the transaction, the executive vice president now owns 43,746 shares in the company, valued at approximately $21,836,690.82. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Bryan Lamkin sold 22,188 shares of the firm’s stock in a transaction dated Friday, January 29th. The shares were sold at an average price of $462.01, for a total transaction of $10,251,077.88. Following the transaction, the executive vice president now owns 93,127 shares of the company’s stock, valued at approximately $43,025,605.27. The disclosure for this sale can be found here. Insiders sold a total of 114,063 shares of company stock valued at $53,715,598 in the last quarter. 0.31% of the stock is currently owned by insiders.

ADBE traded down $8.63 on Tuesday, reaching $458.70. The company had a trading volume of 117,052 shares, compared to its average volume of 2,585,729. The company has a fifty day moving average of $478.42 and a 200-day moving average of $481.07. The company has a market capitalization of $220.05 billion, a P/E ratio of 43.11, a PEG ratio of 2.55 and a beta of 0.97. The company has a current ratio of 1.48, a quick ratio of 1.44 and a debt-to-equity ratio of 0.31. Adobe Inc. has a one year low of $255.13 and a one year high of $536.88.

Adobe (NASDAQ:ADBE) last announced its earnings results on Wednesday, December 9th. The software company reported $2.81 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.66 by $0.15. The firm had revenue of $3.42 billion during the quarter, compared to analyst estimates of $3.36 billion. Adobe had a net margin of 40.88% and a return on equity of 35.81%. Adobe’s revenue was up 14.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.29 EPS. Research analysts predict that Adobe Inc. will post 9.47 EPS for the current year.

Adobe declared that its board has authorized a stock buyback plan on Thursday, December 10th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the software company to buy up to 6.6% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

ADBE has been the topic of several research reports. The Goldman Sachs Group initiated coverage on shares of Adobe in a research report on Thursday, January 21st. They set a “buy” rating and a $580.00 price objective on the stock. Royal Bank of Canada raised their price objective on shares of Adobe from $570.00 to $575.00 and gave the stock an “outperform” rating in a research report on Friday, December 11th. BMO Capital Markets raised their price objective on shares of Adobe from $560.00 to $570.00 and gave the stock an “outperform” rating in a research report on Friday, December 11th. Wedbush raised their price objective on shares of Adobe from $410.00 to $510.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 3rd. Finally, Oppenheimer initiated coverage on shares of Adobe in a report on Friday, December 11th. They issued a “buy” rating and a $550.00 target price on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twenty-two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $527.42.

About Adobe

Adobe Inc operates as a diversified software company worldwide. Its Digital Media segment provides tools and solutions that enable individuals, teams, and enterprises to create, publish, promote, and monetize their digital content. Its flagship product is Creative Cloud, a subscription service that allows customer to download and access the latest versions of its creative products.

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Institutional Ownership by Quarter for Adobe (NASDAQ:ADBE)

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