Doliver Advisors LP Buys 345 Shares of Adobe Inc. (NASDAQ:ADBE)

Doliver Advisors LP grew its stake in Adobe Inc. (NASDAQ:ADBE) by 12.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,136 shares of the software company’s stock after buying an additional 345 shares during the period. Doliver Advisors LP’s holdings in Adobe were worth $1,395,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Legacy Investment Solutions LLC acquired a new position in Adobe during the third quarter valued at approximately $26,000. Piscataqua Savings Bank boosted its holdings in shares of Adobe by 226.7% during the 3rd quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock worth $25,000 after buying an additional 34 shares during the period. MidAtlantic Capital Management Inc. acquired a new position in Adobe in the 3rd quarter valued at $30,000. True Wealth Design LLC raised its holdings in Adobe by 141.7% in the 3rd quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock worth $30,000 after acquiring an additional 34 shares during the period. Finally, Briaud Financial Planning Inc acquired a new position in Adobe during the 3rd quarter worth $36,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Adobe Price Performance

Shares of NASDAQ ADBE traded down $1.98 during trading on Monday, reaching $428.59. The company had a trading volume of 2,613,345 shares, compared to its average volume of 3,554,194. Adobe Inc. has a 52 week low of $425.32 and a 52 week high of $638.25. The business’s 50 day moving average price is $490.31 and its 200-day moving average price is $520.78. The stock has a market cap of $188.67 billion, a PE ratio of 34.56, a PEG ratio of 2.51 and a beta of 1.31. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.11 and a current ratio of 1.11.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.67 by $0.14. The firm had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $5.54 billion. Adobe had a return on equity of 45.22% and a net margin of 25.85%. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.52 EPS. Analysts expect that Adobe Inc. will post 16.73 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently weighed in on ADBE shares. DA Davidson decreased their target price on Adobe from $685.00 to $625.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. Piper Sandler lowered their price objective on shares of Adobe from $635.00 to $600.00 and set an “overweight” rating on the stock in a research note on Thursday, December 12th. StockNews.com upgraded shares of Adobe from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 18th. Mizuho decreased their price target on shares of Adobe from $640.00 to $620.00 and set an “outperform” rating on the stock in a research report on Thursday, December 12th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $660.00 target price on shares of Adobe in a research note on Friday, September 13th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $582.96.

Insider Activity

In related news, EVP Scott Belsky sold 481 shares of Adobe stock in a transaction on Friday, October 25th. The stock was sold at an average price of $483.42, for a total transaction of $232,525.02. Following the completion of the sale, the executive vice president now directly owns 18,128 shares of the company’s stock, valued at $8,763,437.76. The trade was a 2.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Amy Banse sold 606 shares of the stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $550.00, for a total value of $333,300.00. Following the completion of the transaction, the director now directly owns 32,929 shares in the company, valued at $18,110,950. The trade was a 1.81 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,293 shares of company stock valued at $1,679,809. 0.15% of the stock is currently owned by insiders.

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.