GKV Capital Management Co. Inc. Invests $1.72 Million in Adobe Inc. (NASDAQ:ADBE)

GKV Capital Management Co. Inc. bought a new stake in shares of Adobe Inc. (NASDAQ:ADBE) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 3,877 shares of the software company’s stock, valued at approximately $1,724,000.

Other institutional investors have also bought and sold shares of the company. Nordea Investment Management AB raised its holdings in shares of Adobe by 2.0% in the fourth quarter. Nordea Investment Management AB now owns 1,712,616 shares of the software company’s stock valued at $765,094,000 after purchasing an additional 33,414 shares during the last quarter. Arizona State Retirement System increased its stake in Adobe by 0.4% in the 4th quarter. Arizona State Retirement System now owns 127,696 shares of the software company’s stock valued at $56,784,000 after buying an additional 570 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in Adobe by 1.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 99,150 shares of the software company’s stock valued at $44,090,000 after buying an additional 1,326 shares during the last quarter. M. Kraus & Co bought a new position in shares of Adobe during the 4th quarter worth approximately $3,285,000. Finally, Silicon Valley Capital Partners boosted its stake in shares of Adobe by 4.1% in the 4th quarter. Silicon Valley Capital Partners now owns 5,972 shares of the software company’s stock worth $2,656,000 after buying an additional 236 shares during the last quarter. Institutional investors own 81.79% of the company’s stock.

Adobe Stock Down 1.8 %

ADBE stock opened at $344.19 on Thursday. The company’s 50 day moving average is $407.79 and its 200 day moving average is $452.66. The stock has a market cap of $146.69 billion, a price-to-earnings ratio of 27.76, a price-to-earnings-growth ratio of 2.15 and a beta of 1.49. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29. Adobe Inc. has a 1-year low of $332.01 and a 1-year high of $587.75.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Wednesday, March 12th. The software company reported $5.08 EPS for the quarter, topping analysts’ consensus estimates of $4.97 by $0.11. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The firm had revenue of $5.71 billion for the quarter, compared to analyst estimates of $5.66 billion. During the same quarter in the prior year, the firm earned $4.48 EPS. Sell-side analysts predict that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently commented on ADBE shares. JPMorgan Chase & Co. dropped their price target on Adobe from $580.00 to $540.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Jefferies Financial Group cut their price target on shares of Adobe from $650.00 to $590.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Royal Bank of Canada decreased their price objective on shares of Adobe from $530.00 to $480.00 and set an “outperform” rating for the company in a report on Monday. KeyCorp upgraded shares of Adobe from an “underweight” rating to a “sector weight” rating in a research note on Friday, March 21st. Finally, Bank of America decreased their price target on shares of Adobe from $605.00 to $528.00 and set a “buy” rating for the company in a research note on Thursday, March 13th. Eleven investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $513.27.

Insiders Place Their Bets

In other Adobe news, CFO Daniel Durn acquired 1,300 shares of the business’s stock in a transaction dated Thursday, March 20th. The stock was bought at an average price of $390.58 per share, with a total value of $507,754.00. Following the purchase, the chief financial officer now owns 29,876 shares of the company’s stock, valued at approximately $11,668,968.08. This trade represents a 4.55 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Scott Belsky sold 922 shares of Adobe stock in a transaction on Friday, January 24th. The stock was sold at an average price of $437.28, for a total transaction of $403,172.16. Following the completion of the transaction, the executive vice president now owns 22,153 shares in the company, valued at approximately $9,687,063.84. The trade was a 4.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,075 shares of company stock valued at $2,191,826 over the last 90 days. Insiders own 0.16% 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.