TigerOak Management L.L.C. Purchases Shares of 4,343 Adobe Inc. (NASDAQ:ADBE)

TigerOak Management L.L.C. bought a new position in Adobe Inc. (NASDAQ:ADBE) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 4,343 shares of the software company’s stock, valued at approximately $1,931,000. Adobe comprises about 0.7% of TigerOak Management L.L.C.’s investment portfolio, making the stock its 25th biggest holding.

Other large investors have also recently made changes to their positions in the company. Legacy Investment Solutions LLC bought a new stake in shares of Adobe in the third quarter worth about $26,000. Groupama Asset Managment boosted its position in shares of Adobe by 28.8% during the third quarter. Groupama Asset Managment now owns 51,482 shares of the software company’s stock valued at $27,000 after buying an additional 11,522 shares during the period. MidAtlantic Capital Management Inc. purchased a new position in shares of Adobe during the third quarter valued at approximately $30,000. True Wealth Design LLC boosted its position in shares of Adobe by 141.7% during the third quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock valued at $30,000 after buying an additional 34 shares during the period. Finally, Decker Retirement Planning Inc. purchased a new stake in shares of Adobe in the fourth quarter valued at approximately $31,000. 81.79% of the stock is owned by institutional investors.

Adobe Stock Up 0.2 %

ADBE opened at $460.16 on Friday. The company has a market cap of $200.31 billion, a PE ratio of 37.11, a price-to-earnings-growth 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 Inc. has a twelve month low of $403.75 and a twelve month high of $607.32. The company has a 50-day moving average price of $446.56 and a 200 day moving average price of $496.88.

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

Insider Transactions at Adobe

In related news, EVP Scott Belsky sold 3,819 shares of the stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $430.24, for a total transaction of $1,643,086.56. Following the completion of the transaction, the executive vice president now owns 18,334 shares of the company’s stock, valued at approximately $7,888,020.16. This trade represents a 17.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Amy Banse sold 606 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $550.00, for a total transaction of $333,300.00. Following the completion of the transaction, the director now directly owns 32,929 shares of the company’s stock, valued at $18,110,950. This represents a 1.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,681 shares of company stock worth $2,525,126 in the last 90 days. Insiders own 0.15% of the company’s stock.

Analyst Ratings Changes

ADBE has been the subject of a number of research reports. StockNews.com upgraded Adobe from a “buy” rating to a “strong-buy” rating in a report on Tuesday, January 28th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $590.00 price target on shares of Adobe in a research report on Thursday. Barclays reduced their price target on Adobe from $675.00 to $645.00 and set an “overweight” rating on the stock in a research report on Thursday, December 12th. DA Davidson cut their target price on Adobe from $685.00 to $625.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Finally, BMO Capital Markets cut their target price on Adobe from $600.00 to $570.00 and set an “outperform” rating on the stock in a research report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Adobe has an average rating of “Moderate Buy” and an average target price of $573.00.

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.