Robinson Value Management Ltd. Purchases Shares of 5,388 Adobe Inc. (NASDAQ:ADBE)

Robinson Value Management Ltd. purchased a new stake in shares of Adobe Inc. (NASDAQ:ADBE) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 5,388 shares of the software company’s stock, valued at approximately $2,396,000. Adobe makes up 1.6% of Robinson Value Management Ltd.’s investment portfolio, making the stock its 24th biggest position.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Piscataqua Savings Bank increased its stake in Adobe by 226.7% during the 3rd quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock valued at $25,000 after purchasing an additional 34 shares in the last quarter. Legacy Investment Solutions LLC bought a new stake in Adobe during the 3rd quarter valued at $26,000. Groupama Asset Managment boosted its holdings in Adobe by 28.8% during the 3rd quarter. Groupama Asset Managment now owns 51,482 shares of the software company’s stock worth $27,000 after acquiring an additional 11,522 shares during the last quarter. MidAtlantic Capital Management Inc. purchased a new position in Adobe during the 3rd quarter worth $30,000. Finally, True Wealth Design LLC boosted its holdings in Adobe by 141.7% during the 3rd quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock worth $30,000 after acquiring an additional 34 shares during the last quarter. Institutional investors own 81.79% of the company’s stock.

Adobe Trading Down 0.5 %

Shares of ADBE opened at $433.07 on Friday. The business’s 50-day moving average price is $453.92 and its 200-day moving average price is $499.63. Adobe Inc. has a twelve month low of $403.75 and a twelve month high of $628.07. The stock has a market cap of $188.52 billion, a PE ratio of 34.93, a P/E/G ratio of 2.11 and a beta of 1.31. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share for the quarter, beating the consensus estimate of $4.67 by $0.14. The firm had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.54 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The company’s revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the business posted $3.52 earnings per share. On average, equities analysts forecast that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Citigroup cut their price objective on shares of Adobe from $616.00 to $590.00 and set a “neutral” rating on the stock in a report on Monday, December 9th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $475.00 price objective (down from $600.00) on shares of Adobe in a report on Wednesday, January 8th. Wells Fargo & Company cut their price objective on shares of Adobe from $700.00 to $640.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. DA Davidson cut their price objective on shares of Adobe from $685.00 to $625.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Finally, StockNews.com raised shares of Adobe from a “buy” rating to a “strong-buy” rating in a report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Adobe has a consensus rating of “Moderate Buy” and a consensus price target of $573.00.

Insider Buying and Selling

In related news, EVP Scott Belsky sold 922 shares of the company’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $437.28, for a total value of $403,172.16. Following the transaction, the executive vice president now directly owns 22,153 shares in the company, valued at approximately $9,687,063.84. This represents a 4.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Jillian Forusz sold 334 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total transaction of $145,567.22. Following the completion of the transaction, the chief accounting officer now owns 2,685 shares in the company, valued at approximately $1,170,203.55. This trade represents a 11.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,681 shares of company stock worth $2,525,126. Insiders own 0.15% of the company’s stock.

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.