Gilder Gagnon Howe & Co. LLC Grows Holdings in Adobe Inc. (NASDAQ:ADBE)

Gilder Gagnon Howe & Co. LLC grew its position in shares of Adobe Inc. (NASDAQ:ADBE) by 2.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,875 shares of the software company’s stock after purchasing an additional 881 shares during the period. Gilder Gagnon Howe & Co. LLC’s holdings in Adobe were worth $14,619,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Decker Retirement Planning Inc. acquired a new position in Adobe in the 4th quarter valued at $31,000. Summit Securities Group LLC purchased a new stake in shares of Adobe in the fourth quarter valued at $31,000. Caitlin John LLC increased its stake in Adobe by 171.4% in the fourth quarter. Caitlin John LLC now owns 76 shares of the software company’s stock valued at $34,000 after purchasing an additional 48 shares during the last quarter. Avion Wealth lifted its position in Adobe by 112.2% during the fourth quarter. Avion Wealth now owns 87 shares of the software company’s stock worth $38,000 after buying an additional 46 shares during the period. Finally, Mascoma Wealth Management LLC boosted its stake in Adobe by 142.9% in the 4th quarter. Mascoma Wealth Management LLC now owns 85 shares of the software company’s stock worth $38,000 after buying an additional 50 shares during the last quarter. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Adobe Stock Performance

Adobe stock opened at $367.72 on Friday. Adobe Inc. has a 52 week low of $332.01 and a 52 week high of $587.75. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29. The stock has a market cap of $156.72 billion, a P/E ratio of 29.65, a price-to-earnings-growth ratio of 2.15 and a beta of 1.49. The stock has a 50 day moving average of $392.89 and a 200-day moving average of $445.42.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Wednesday, March 12th. The software company reported $5.08 EPS for the quarter, beating analysts’ consensus estimates of $4.97 by $0.11. The firm had revenue of $5.71 billion for the quarter, compared to the consensus estimate of $5.66 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. During the same period in the prior year, the firm posted $4.48 EPS. On average, analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Insider Transactions at Adobe

In other news, CFO Daniel Durn acquired 1,300 shares of Adobe stock in a transaction that occurred on Thursday, March 20th. The shares were purchased at an average cost of $390.58 per share, for a total transaction of $507,754.00. Following the completion of the purchase, the chief financial officer now directly owns 29,876 shares of the company’s stock, valued at $11,668,968.08. This trade represents a 4.55 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Scott Belsky sold 3,819 shares of the business’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $430.24, for a total transaction of $1,643,086.56. Following the sale, the executive vice president now owns 18,334 shares of the company’s stock, valued at approximately $7,888,020.16. The trade was a 17.24 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.16% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on ADBE shares. DA Davidson cut their price objective on shares of Adobe from $600.00 to $450.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Royal Bank of Canada cut their price target on shares of Adobe from $530.00 to $480.00 and set an “outperform” rating on the stock in a research note on Monday, April 14th. Piper Sandler decreased their price target on shares of Adobe from $600.00 to $500.00 and set an “overweight” rating on the stock in a report on Wednesday. Oppenheimer dropped their price objective on Adobe from $560.00 to $530.00 and set an “outperform” rating for the company in a report on Thursday, March 13th. Finally, JPMorgan Chase & Co. reduced their target price on Adobe from $580.00 to $540.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Eleven analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $502.88.

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.