Nkcfo LLC Sells 100 Shares of Adobe Inc. (NASDAQ:ADBE)

Nkcfo LLC decreased its position in shares of Adobe Inc. (NASDAQ:ADBE) by 8.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,100 shares of the software company’s stock after selling 100 shares during the quarter. Nkcfo LLC’s holdings in Adobe were worth $656,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. HBC Financial Services PLLC purchased a new position in shares of Adobe during the 3rd quarter valued at about $25,000. Wetzel Investment Advisors Inc. purchased a new position in shares of Adobe in the fourth quarter worth $35,000. BluePath Capital Management LLC purchased a new position in shares of Adobe in the third quarter worth $39,000. Hanseatic Management Services Inc. purchased a new position in shares of Adobe in the third quarter worth $45,000. Finally, First Command Advisory Services Inc. purchased a new position in shares of Adobe in the third quarter worth $52,000. Institutional investors own 81.79% of the company’s stock.

Insider Activity at Adobe

In other Adobe news, CAO Mark S. Garfield sold 96 shares of the company’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $470.00, for a total value of $45,120.00. Following the completion of the transaction, the chief accounting officer now directly owns 4,128 shares in the company, valued at approximately $1,940,160. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Adobe news, CAO Mark S. Garfield sold 96 shares of the company’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $470.00, for a total value of $45,120.00. Following the completion of the transaction, the chief accounting officer now directly owns 4,128 shares in the company, valued at approximately $1,940,160. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Scott Belsky sold 2,713 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The stock was 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 of the company’s stock, valued at $10,014,370.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,006 shares of company stock worth $1,424,432. 0.15% of the stock is owned by company insiders.

Adobe Stock Performance

Shares of NASDAQ ADBE traded up $9.61 during midday trading on Friday, hitting $486.18. 2,833,186 shares of the company’s stock traded hands, compared to its average volume of 2,940,603. Adobe Inc. has a 1 year low of $331.89 and a 1 year high of $638.25. The stock has a market capitalization of $217.81 billion, a price-to-earnings ratio of 46.48, a price-to-earnings-growth ratio of 2.63 and a beta of 1.28. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a fifty day moving average of $508.34 and a 200 day moving average of $561.78.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Thursday, March 14th. The software company reported $4.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.38 by $0.10. The company had revenue of $5.18 billion during the quarter, compared to the consensus estimate of $5.14 billion. Adobe had a return on equity of 39.12% and a net margin of 24.08%. The firm’s revenue was up 11.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.97 EPS. On average, analysts forecast that Adobe Inc. will post 14.55 earnings per share for the current year.

Adobe declared that its board has authorized a share repurchase plan on Thursday, March 14th that allows the company to repurchase $25.00 billion in shares. This repurchase authorization allows the software company to purchase up to 10.8% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

Several research analysts recently commented on the stock. HSBC decreased their target price on shares of Adobe from $557.00 to $511.00 and set a “hold” rating on the stock in a research note on Friday, March 15th. Robert W. Baird cut their price target on shares of Adobe from $590.00 to $525.00 and set a “neutral” rating on the stock in a report on Friday, March 15th. Wells Fargo & Company cut their price target on shares of Adobe from $690.00 to $675.00 and set an “overweight” rating on the stock in a report on Friday, March 15th. BNP Paribas cut shares of Adobe from a “neutral” rating to an “underperform” rating and set a $499.00 target price on the stock. in a report on Thursday, January 18th. Finally, Bank of America dropped their target price on shares of Adobe from $700.00 to $640.00 and set a “buy” rating on the stock in a report on Friday, March 15th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat, Adobe presently has an average rating of “Moderate Buy” and an average target price of $620.72.

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.