Linden Thomas Advisory Services LLC Buys 586 Shares of Adobe Inc. (NASDAQ:ADBE)

Linden Thomas Advisory Services LLC increased its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 14.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,558 shares of the software company’s stock after acquiring an additional 586 shares during the period. Adobe comprises approximately 0.5% of Linden Thomas Advisory Services LLC’s investment portfolio, making the stock its 28th largest holding. Linden Thomas Advisory Services LLC’s holdings in Adobe were worth $2,719,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of ADBE. Iron Horse Wealth Management LLC bought a new stake in Adobe during the third quarter worth about $25,000. HBC Financial Services PLLC bought a new stake in Adobe during the third quarter worth about $25,000. Global Wealth Strategies & Associates raised its stake in Adobe by 57.6% in the third quarter. Global Wealth Strategies & Associates now owns 52 shares of the software company’s stock valued at $27,000 after buying an additional 19 shares during the period. Wetzel Investment Advisors Inc. bought a new stake in Adobe in the fourth quarter valued at approximately $35,000. Finally, BluePath Capital Management LLC bought a new stake in Adobe in the third quarter valued at approximately $39,000. Institutional investors own 81.79% of the company’s stock.

Adobe Price Performance

Shares of ADBE traded up $6.58 during trading hours on Tuesday, reaching $473.47. The stock had a trading volume of 1,370,394 shares, compared to its average volume of 3,530,708. Adobe Inc. has a 12 month low of $331.89 and a 12 month high of $638.25. The stock has a market capitalization of $212.11 billion, a PE ratio of 44.88, a PEG ratio of 2.52 and a beta of 1.28. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.05 and a current ratio of 1.05. The company’s 50-day moving average is $524.19 and its two-hundred day moving average is $566.33.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Thursday, March 14th. The software company reported $4.48 EPS for the quarter, beating analysts’ consensus estimates of $4.38 by $0.10. The company had revenue of $5.18 billion during the quarter, compared to analysts’ expectations of $5.14 billion. Adobe had a return on equity of 39.12% and a net margin of 24.08%. Adobe’s revenue was up 11.3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.97 EPS. Research analysts expect that Adobe Inc. will post 14.55 EPS for the current year.

Adobe declared that its board has authorized a stock buyback program on Thursday, March 14th that allows the company to repurchase $25.00 billion in shares. This repurchase authorization allows the software company to purchase up to 10.8% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

Several analysts have issued reports on ADBE shares. Barclays dropped their price objective on Adobe from $700.00 to $630.00 and set an “overweight” rating on the stock in a research note on Friday, March 15th. TD Cowen dropped their price objective on Adobe from $650.00 to $640.00 and set an “outperform” rating on the stock in a research note on Friday, March 15th. Mizuho restated a “buy” rating and issued a $680.00 price objective on shares of Adobe in a research note on Wednesday, March 27th. KeyCorp initiated coverage on Adobe in a research report on Thursday, March 21st. They issued an “underweight” rating and a $445.00 target price on the stock. Finally, JPMorgan Chase & Co. decreased their target price on Adobe from $600.00 to $570.00 and set a “neutral” rating on the stock in a research report on Friday, March 15th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat, Adobe presently has an average rating of “Moderate Buy” and an average price target of $620.72.

Insider Buying and Selling

In related news, CAO Mark S. Garfield sold 96 shares of the firm’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $470.00, for a total transaction of $45,120.00. Following the completion of the transaction, the chief accounting officer now directly owns 4,128 shares of the company’s stock, valued at approximately $1,940,160. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CAO Mark S. Garfield sold 96 shares of Adobe stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $470.00, for a total value of $45,120.00. Following the completion of the transaction, the chief accounting officer now directly owns 4,128 shares of the company’s stock, valued at approximately $1,940,160. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Scott Belsky sold 2,191 shares of Adobe stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $601.71, for a total value of $1,318,346.61. Following the completion of the transaction, the executive vice president now directly owns 23,508 shares of the company’s stock, valued at $14,144,998.68. The disclosure for this sale can be found here. Insiders sold a total of 3,075 shares of company stock valued at $1,848,418 in the last three months. 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.