Moser Wealth Advisors LLC Buys 125 Shares of Adobe Inc. (NASDAQ:ADBE)

Moser Wealth Advisors LLC raised its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 125.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 225 shares of the software company’s stock after acquiring an additional 125 shares during the period. Moser Wealth Advisors LLC’s holdings in Adobe were worth $134,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of ADBE. Pinnacle West Asset Management Inc. increased its position in shares of Adobe by 8.3% during the 3rd quarter. Pinnacle West Asset Management Inc. now owns 1,180 shares of the software company’s stock valued at $602,000 after purchasing an additional 90 shares during the last quarter. BluePath Capital Management LLC purchased a new stake in shares of Adobe during the 3rd quarter valued at $39,000. Mackenzie Financial Corp increased its position in shares of Adobe by 9.7% during the 3rd quarter. Mackenzie Financial Corp now owns 88,800 shares of the software company’s stock valued at $45,024,000 after purchasing an additional 7,848 shares during the last quarter. Farmers & Merchants Investments Inc. increased its position in shares of Adobe by 5.8% during the 3rd quarter. Farmers & Merchants Investments Inc. now owns 384 shares of the software company’s stock valued at $196,000 after purchasing an additional 21 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of Adobe by 15.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 586,363 shares of the software company’s stock valued at $298,986,000 after purchasing an additional 77,277 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors.

Adobe Trading Down 0.3 %

Shares of ADBE traded down $1.29 during mid-day trading on Thursday, hitting $486.81. 245,784 shares of the company’s stock traded hands, compared to its average volume of 3,381,080. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.14. Adobe Inc. has a 1 year low of $331.89 and a 1 year high of $638.25. The firm has a market capitalization of $218.09 billion, a P/E ratio of 46.67, a PEG ratio of 2.63 and a beta of 1.28. The business’s 50-day moving average price is $505.80 and its 200-day moving average price is $561.00.

Adobe (NASDAQ:ADBE) last posted its earnings results on Thursday, March 14th. The software company reported $4.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.38 by $0.10. Adobe had a return on equity of 39.12% and a net margin of 24.08%. The firm had revenue of $5.18 billion for the quarter, compared to analysts’ expectations of $5.14 billion. During the same period in the previous year, the firm earned $2.97 earnings per share. The business’s revenue was up 11.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Adobe Inc. will post 14.55 EPS for the current fiscal year.

Adobe announced that its board has approved a stock buyback program on Thursday, March 14th that authorizes the company to repurchase $25.00 billion in outstanding shares. This repurchase authorization authorizes the software company to repurchase up to 10.8% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Insider Activity

In other news, EVP Scott Belsky sold 2,713 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $474.30, for a total transaction of $1,286,775.90. Following the transaction, the executive vice president now directly owns 21,114 shares of the company’s stock, valued at $10,014,370.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Anil Chakravarthy sold 100 shares of the company’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $471.00, for a total value of $47,100.00. Following the sale, the insider now directly owns 33,609 shares of the company’s stock, valued at $15,829,839. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Scott Belsky sold 2,713 shares of the company’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $474.30, for a total value of $1,286,775.90. Following the completion of the sale, the executive vice president now directly owns 21,114 shares in the company, valued at $10,014,370.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,006 shares of company stock valued at $1,424,432. Company insiders own 0.15% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ADBE. UBS Group decreased their target price on Adobe from $600.00 to $540.00 and set a “neutral” rating for the company in a research report on Friday, March 15th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $630.00 target price on shares of Adobe in a report on Wednesday, March 27th. BMO Capital Markets reaffirmed an “outperform” rating and set a $610.00 target price on shares of Adobe in a report on Wednesday, March 27th. JPMorgan Chase & Co. reduced their target price on Adobe from $600.00 to $570.00 and set a “neutral” rating for the company in a report on Friday, March 15th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $660.00 target price on shares of Adobe in a report on Wednesday, March 27th. 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 stock. According to MarketBeat, Adobe has a consensus rating of “Moderate Buy” and a consensus target price of $620.72.

Adobe Company 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.