Adobe Inc. (NASDAQ:ADBE) Shares Acquired by Hyman Charles D

Hyman Charles D lifted its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 2.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,311 shares of the software company’s stock after acquiring an additional 46 shares during the period. Hyman Charles D’s holdings in Adobe were worth $1,379,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of ADBE. HBC Financial Services PLLC purchased a new stake in shares of Adobe in the third quarter valued at about $25,000. Wetzel Investment Advisors Inc. acquired a new stake in Adobe during the 4th quarter worth approximately $35,000. BluePath Capital Management LLC purchased a new position in shares of Adobe in the 3rd quarter valued at approximately $39,000. Hanseatic Management Services Inc. acquired a new position in shares of Adobe in the third quarter valued at approximately $45,000. Finally, First Command Advisory Services Inc. purchased a new stake in shares of Adobe during the third quarter worth approximately $52,000. 81.79% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Adobe

In other news, CAO Mark S. Garfield sold 96 shares of the stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $470.00, for a total transaction of $45,120.00. Following the sale, the chief accounting officer now directly owns 4,128 shares in the company, valued at approximately $1,940,160. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Scott Belsky sold 2,713 shares of the stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $474.30, for a total value of $1,286,775.90. Following the completion of the transaction, the executive vice president now owns 21,114 shares in the company, valued at approximately $10,014,370.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Mark S. Garfield sold 96 shares of the stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $470.00, for a total transaction of $45,120.00. Following the completion of the transaction, the chief accounting officer now owns 4,128 shares of the company’s stock, valued at $1,940,160. The disclosure for this sale can be found here. Insiders sold a total of 3,006 shares of company stock valued at $1,424,432 in the last quarter. Insiders own 0.15% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. BMO Capital Markets reaffirmed an “outperform” rating and issued a $610.00 target price on shares of Adobe in a report on Wednesday, March 27th. Piper Sandler reaffirmed an “overweight” rating and issued a $700.00 price objective on shares of Adobe in a report on Wednesday, March 27th. TheStreet downgraded Adobe from a “b-” rating to a “c+” rating in a research note on Tuesday, March 19th. UBS Group reduced their price target on Adobe from $600.00 to $540.00 and set a “neutral” rating for the company in a report on Friday, March 15th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a report on Thursday, March 28th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $620.72.

Adobe Stock Down 0.3 %

Shares of Adobe stock traded down $1.32 on Tuesday, hitting $492.27. 2,517,845 shares of the company’s stock traded hands, compared to its average volume of 3,431,529. Adobe Inc. has a 52-week low of $331.89 and a 52-week high of $638.25. 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 stock has a market cap of $220.54 billion, a P/E ratio of 47.06, a PEG ratio of 2.63 and a beta of 1.28. The firm’s 50-day moving average is $505.80 and its 200 day moving average is $561.00.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Thursday, March 14th. The software company reported $4.48 earnings per share 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 during the quarter, compared to analyst estimates of $5.14 billion. During the same period in the previous year, the company earned $2.97 earnings per share. Adobe’s quarterly revenue was up 11.3% on a year-over-year basis. Equities analysts anticipate that Adobe Inc. will post 14.55 earnings per share for the current year.

Adobe announced that its Board of Directors has authorized a stock buyback plan on Thursday, March 14th that permits the company to repurchase $25.00 billion in shares. This repurchase authorization permits the software company to reacquire up to 10.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

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.