Adobe Inc. (NASDAQ:ADBE) Shares Purchased by Ewa LLC

Ewa LLC lifted its position in Adobe Inc. (NASDAQ:ADBE) by 4.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 663 shares of the software company’s stock after acquiring an additional 30 shares during the period. Ewa LLC’s holdings in Adobe were worth $421,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in ADBE. Concentrum Wealth Management boosted its stake in shares of Adobe by 17,006.8% in the third quarter. Concentrum Wealth Management now owns 2,161,614 shares of the software company’s stock worth $1,102,207,000 after acquiring an additional 2,148,978 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Adobe in the fourth quarter worth approximately $875,592,000. Invesco Ltd. boosted its stake in shares of Adobe by 25.1% in the third quarter. Invesco Ltd. now owns 4,438,805 shares of the software company’s stock worth $2,263,347,000 after acquiring an additional 889,607 shares during the last quarter. Jennison Associates LLC lifted its position in Adobe by 12.3% during the third quarter. Jennison Associates LLC now owns 4,561,859 shares of the software company’s stock worth $2,326,092,000 after buying an additional 498,957 shares in the last quarter. Finally, Alkeon Capital Management LLC purchased a new position in Adobe during the third quarter worth approximately $152,970,000. 81.79% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Adobe

In other news, insider Anil Chakravarthy sold 100 shares of the company’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $471.00, for a total transaction of $47,100.00. Following the completion of the transaction, the insider now directly owns 33,609 shares of the company’s stock, valued at approximately $15,829,839. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Anil Chakravarthy sold 100 shares of the business’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $471.00, for a total value of $47,100.00. Following the completion of the sale, the insider now directly owns 33,609 shares of the company’s stock, valued at approximately $15,829,839. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Mark S. Garfield sold 97 shares of the business’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $468.41, for a total value of $45,435.77. Following the completion of the sale, the chief accounting officer now directly owns 4,128 shares of the company’s stock, valued at $1,933,596.48. The disclosure for this sale can be found here. In the last ninety days, insiders sold 293 shares of company stock valued at $137,656. 0.15% of the stock is currently owned by corporate insiders.

Adobe Stock Down 1.3 %

ADBE traded down $6.02 on Monday, hitting $471.54. 1,412,683 shares of the company were exchanged, compared to its average volume of 3,471,578. Adobe Inc. has a twelve month low of $331.89 and a twelve month high of $638.25. The company has a market cap of $211.25 billion, a price-to-earnings ratio of 45.74, a price-to-earnings-growth ratio of 2.59 and a beta of 1.28. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.14. The firm has a 50-day moving average price of $515.34 and a two-hundred day moving average price of $564.66.

Adobe (NASDAQ:ADBE) last released its earnings results on Thursday, March 14th. The software company reported $4.48 EPS for the quarter, topping the consensus estimate of $4.38 by $0.10. The firm 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 for the quarter was up 11.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.97 EPS. On average, equities analysts predict that Adobe Inc. will post 14.55 earnings per share for the current year.

Adobe announced that its board has authorized a stock buyback plan on Thursday, March 14th that permits the company to repurchase $25.00 billion in shares. This repurchase authorization permits the software company to repurchase up to 10.8% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

ADBE has been the topic of a number of analyst reports. KeyCorp initiated coverage on Adobe in a research report on Thursday, March 21st. They set an “underweight” rating and a $445.00 price objective on the stock. TheStreet downgraded Adobe from a “b-” rating to a “c+” rating in a research report on Tuesday, March 19th. Robert W. Baird reduced their price objective on Adobe from $590.00 to $525.00 and set a “neutral” rating on the stock in a research report on Friday, March 15th. Evercore ISI reiterated an “outperform” rating and set a $650.00 price objective on shares of Adobe in a research report on Wednesday, March 27th. Finally, Barclays reduced their target price on Adobe from $700.00 to $630.00 and set an “overweight” rating on the stock in a research report on Friday, March 15th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Adobe presently has an average rating of “Moderate Buy” and a consensus price target of $620.72.

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.