Adobe Inc. (NASDAQ:ADBE) Shares Purchased by DLK Investment Management LLC

DLK Investment Management LLC raised its stake in Adobe Inc. (NASDAQ:ADBE) by 1.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,200 shares of the software company’s stock after buying an additional 150 shares during the quarter. Adobe makes up approximately 1.9% of DLK Investment Management LLC’s investment portfolio, making the stock its 22nd largest position. DLK Investment Management LLC’s holdings in Adobe were worth $4,536,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Piscataqua Savings Bank lifted its stake in Adobe by 226.7% during the third quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock worth $25,000 after purchasing an additional 34 shares in the last quarter. Legacy Investment Solutions LLC purchased a new position in Adobe in the third quarter worth approximately $26,000. Groupama Asset Managment raised its stake in Adobe by 28.8% in the third quarter. Groupama Asset Managment now owns 51,482 shares of the software company’s stock valued at $27,000 after buying an additional 11,522 shares in the last quarter. MidAtlantic Capital Management Inc. acquired a new position in Adobe in the third quarter valued at approximately $30,000. Finally, True Wealth Design LLC boosted its holdings in shares of Adobe by 141.7% in the 3rd quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock valued at $30,000 after buying an additional 34 shares in the last quarter. 81.79% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ADBE. BNP Paribas upgraded Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 price target on the stock in a research note on Wednesday, January 15th. BMO Capital Markets dropped their price target on shares of Adobe from $600.00 to $570.00 and set an “outperform” rating on the stock in a research note on Thursday, December 12th. DA Davidson cut their price objective on Adobe from $685.00 to $625.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. Barclays reduced their price objective on shares of Adobe from $675.00 to $645.00 and set an “overweight” rating for the company in a research note on Thursday, December 12th. Finally, Jefferies Financial Group lowered their target price on shares of Adobe from $700.00 to $650.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $573.00.

Adobe Trading Up 0.7 %

Shares of ADBE stock opened at $429.99 on Monday. Adobe Inc. has a 1-year low of $403.75 and a 1-year high of $638.25. The firm’s 50-day simple moving average is $476.55 and its 200-day simple moving average is $512.44. The firm has a market cap of $189.28 billion, a P/E ratio of 34.68, a PEG ratio of 1.97 and a beta of 1.31. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.11.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.67 by $0.14. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The company had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.54 billion. During the same period in the previous year, the company earned $3.52 EPS. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. As a group, equities analysts forecast that Adobe Inc. will post 16.65 EPS for the current year.

Insider Activity

In related news, Director Amy Banse sold 606 shares of the stock in a transaction on Friday, December 6th. The stock was sold at an average price of $550.00, for a total value of $333,300.00. Following the completion of the sale, the director now directly owns 32,929 shares in the company, valued at approximately $18,110,950. This represents a 1.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Scott Belsky sold 481 shares of the business’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $483.42, for a total value of $232,525.02. Following the transaction, the executive vice president now owns 18,128 shares in the company, valued at approximately $8,763,437.76. This represents a 2.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,763 shares of company stock valued at $893,665 in the last three months. Corporate insiders own 0.15% of the company’s stock.

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.