Adobe Inc. (NASDAQ:ADBE) Shares Acquired by Capital World Investors

Capital World Investors increased its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 3.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 458,495 shares of the software company’s stock after acquiring an additional 13,755 shares during the period. Capital World Investors owned approximately 0.11% of Adobe worth $203,884,000 as of its most recent SEC filing.

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

Adobe Trading Up 1.3 %

NASDAQ ADBE opened at $348.80 on Monday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07. Adobe Inc. has a one year low of $332.01 and a one year high of $587.75. The company’s 50 day moving average price is $403.54 and its 200 day moving average price is $449.67. The firm has a market capitalization of $148.66 billion, a price-to-earnings ratio of 28.13, a PEG ratio of 2.15 and a beta of 1.49.

Adobe (NASDAQ:ADBE) last posted its earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share for the quarter, beating the consensus estimate of $4.97 by $0.11. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The business had revenue of $5.71 billion for the quarter, compared to analyst estimates of $5.66 billion. During the same quarter in the previous year, the business posted $4.48 EPS. On average, sell-side analysts predict that Adobe Inc. will post 16.65 EPS for the current year.

Insider Activity

In related news, EVP Scott Belsky sold 3,819 shares of the stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $430.24, for a total value 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 represents a 17.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Daniel Durn purchased 1,300 shares of the firm’s stock in a transaction dated Thursday, March 20th. The shares were bought at an average cost of $390.58 per share, with a total value of $507,754.00. Following the transaction, the chief financial officer now directly owns 29,876 shares of the company’s stock, valued at approximately $11,668,968.08. This represents a 4.55 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 5,075 shares of company stock worth $2,191,826. 0.16% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on ADBE shares. JPMorgan Chase & Co. lowered their target price on Adobe from $580.00 to $540.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Evercore ISI dropped their target price on shares of Adobe from $650.00 to $550.00 and set an “outperform” rating for the company in a report on Thursday, March 13th. UBS Group reduced their price target on shares of Adobe from $410.00 to $380.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Robert W. Baird dropped their price objective on shares of Adobe from $490.00 to $410.00 and set a “neutral” rating for the company in a research note on Wednesday, March 19th. Finally, Mizuho reduced their target price on Adobe from $620.00 to $575.00 and set an “outperform” rating on the stock in a research note on Thursday, March 13th. Eleven analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Adobe presently has an average rating of “Moderate Buy” and a consensus target price of $513.27.

About Adobe

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.