One Charles Private Wealth Services LLC Buys 96 Shares of Adobe Inc. (NASDAQ:ADBE)

One Charles Private Wealth Services LLC boosted its position in Adobe Inc. (NASDAQ:ADBE) by 12.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 881 shares of the software company’s stock after acquiring an additional 96 shares during the quarter. One Charles Private Wealth Services LLC’s holdings in Adobe were worth $526,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. raised its stake in shares of Adobe by 5.7% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 116,382 shares of the software company’s stock worth $59,343,000 after acquiring an additional 6,270 shares in the last quarter. Hanson & Doremus Investment Management boosted its position in Adobe by 18.2% during the third quarter. Hanson & Doremus Investment Management now owns 130 shares of the software company’s stock valued at $66,000 after buying an additional 20 shares during the period. Pinnacle West Asset Management Inc. grew its stake in shares of Adobe by 8.3% during the third quarter. Pinnacle West Asset Management Inc. now owns 1,180 shares of the software company’s stock valued at $602,000 after buying an additional 90 shares during the last quarter. Legacy Financial Group LLC purchased a new position in shares of Adobe in the third quarter worth about $119,000. Finally, Channel Wealth LLC bought a new stake in shares of Adobe in the 3rd quarter valued at about $271,000. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Insider Buying and Selling at Adobe

In other news, CAO Mark S. Garfield sold 96 shares of the business’s stock in a transaction on 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 owns 4,128 shares in the company, valued at $1,940,160. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Adobe news, CAO Mark S. Garfield sold 97 shares of Adobe stock in a transaction that occurred on 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 owns 4,128 shares of the company’s stock, valued at approximately $1,933,596.48. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Mark S. Garfield sold 96 shares of the stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $470.00, for a total value of $45,120.00. Following the transaction, the chief accounting officer now directly owns 4,128 shares in the company, valued at $1,940,160. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,006 shares of company stock worth $1,424,432. Insiders own 0.15% of the company’s stock.

Adobe Stock Up 2.0 %

Shares of NASDAQ:ADBE traded up $9.61 on Friday, hitting $486.18. 2,833,186 shares of the company traded hands, compared to its average volume of 2,940,603. The stock has a 50 day simple moving average of $508.34 and a 200-day simple moving average of $561.74. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.14. The company has a market cap of $217.81 billion, a PE ratio of 46.48, a PEG ratio of 2.63 and a beta of 1.28. Adobe Inc. has a 52 week low of $331.89 and a 52 week high of $638.25.

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

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

Analyst Upgrades and Downgrades

A number of equities analysts have commented on ADBE shares. Bank of America decreased their price target on Adobe from $700.00 to $640.00 and set a “buy” rating on the stock in a research note on Friday, March 15th. Piper Sandler Companies lowered their price target on shares of Adobe from $705.00 to $700.00 and set an “overweight” rating for the company in a report on Friday, March 15th. BMO Capital Markets reissued an “outperform” rating and issued a $610.00 price target on shares of Adobe in a report on Wednesday, March 27th. Piper Sandler reaffirmed an “overweight” rating and set a $700.00 price objective on shares of Adobe in a research note on Wednesday, March 27th. Finally, TheStreet lowered shares of Adobe from a “b-” rating to a “c+” rating in a report on Tuesday, March 19th. Two 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. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $620.72.

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.