3,877 Shares in Adobe Inc. (NASDAQ:ADBE) Purchased by GKV Capital Management Co. Inc.

GKV Capital Management Co. Inc. acquired a new stake in Adobe Inc. (NASDAQ:ADBE) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 3,877 shares of the software company’s stock, valued at approximately $1,724,000.

A number of other institutional investors have also recently bought and sold shares of the business. Decker Retirement Planning Inc. acquired a new stake in Adobe during the fourth quarter worth approximately $31,000. Summit Securities Group LLC acquired a new stake in shares of Adobe during the 4th quarter worth $31,000. Caitlin John LLC increased its position in shares of Adobe by 171.4% in the fourth quarter. Caitlin John LLC now owns 76 shares of the software company’s stock worth $34,000 after purchasing an additional 48 shares during the period. Avion Wealth raised its stake in Adobe by 112.2% in the fourth quarter. Avion Wealth now owns 87 shares of the software company’s stock valued at $38,000 after purchasing an additional 46 shares in the last quarter. Finally, Mascoma Wealth Management LLC lifted its position in Adobe by 142.9% during the fourth quarter. Mascoma Wealth Management LLC now owns 85 shares of the software company’s stock worth $38,000 after purchasing an additional 50 shares during the period. Institutional investors own 81.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. StockNews.com lowered shares of Adobe from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 4th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $475.00 price objective (down from $600.00) on shares of Adobe in a research note on Wednesday, January 8th. DA Davidson cut their target price on Adobe from $600.00 to $450.00 and set a “buy” rating for the company in a research note on Monday. Summit Redstone set a $410.00 price target on Adobe in a research note on Wednesday, March 19th. Finally, BNP Paribas upgraded Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 price objective for the company in a research report on Wednesday, January 15th. Eleven research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Adobe presently has an average rating of “Moderate Buy” and an average price target of $513.27.

Adobe Stock Performance

Shares of ADBE opened at $344.19 on Thursday. The firm’s fifty day simple moving average is $407.79 and its two-hundred day simple moving average is $452.66. Adobe Inc. has a 12 month low of $332.01 and a 12 month high of $587.75. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $146.69 billion, a P/E ratio of 27.76, a price-to-earnings-growth ratio of 2.15 and a beta of 1.49.

Adobe (NASDAQ:ADBE) last released its earnings results on Wednesday, March 12th. The software company reported $5.08 EPS for the quarter, topping the consensus estimate of $4.97 by $0.11. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The business had revenue of $5.71 billion during the quarter, compared to analysts’ expectations of $5.66 billion. During the same quarter last year, the firm posted $4.48 earnings per share. As a group, analysts predict that Adobe Inc. will post 16.65 EPS for the current year.

Insider Activity at Adobe

In related news, Director David A. Ricks acquired 2,250 shares of the company’s stock in a transaction dated Tuesday, January 28th. The shares were purchased at an average price of $443.98 per share, for a total transaction of $998,955.00. Following the completion of the acquisition, the director now owns 4,984 shares of the company’s stock, valued at approximately $2,212,796.32. This trade represents a 82.30 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Scott Belsky sold 3,819 shares of the firm’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $430.24, for a total value of $1,643,086.56. Following the completion of the sale, the executive vice president now owns 18,334 shares of the company’s stock, valued at approximately $7,888,020.16. This represents a 17.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,075 shares of company stock worth $2,191,826 in the last quarter. Company insiders own 0.16% 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.