668 Shares in Adobe Inc. (NASDAQ:ADBE) Purchased by Napatree Capital LLC

Napatree Capital LLC purchased a new position in Adobe Inc. (NASDAQ:ADBE) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 668 shares of the software company’s stock, valued at approximately $399,000.

Several other institutional investors have also modified their holdings of ADBE. One Charles Private Wealth Services LLC lifted its stake in shares of Adobe by 2.2% in the third quarter. One Charles Private Wealth Services LLC now owns 785 shares of the software company’s stock valued at $400,000 after buying an additional 17 shares during the period. Invst LLC lifted its stake in shares of Adobe by 1.9% in the third quarter. Invst LLC now owns 915 shares of the software company’s stock valued at $467,000 after buying an additional 17 shares during the period. Raleigh Capital Management Inc. lifted its stake in shares of Adobe by 3.1% in the third quarter. Raleigh Capital Management Inc. now owns 559 shares of the software company’s stock valued at $285,000 after buying an additional 17 shares during the period. Lantz Financial LLC lifted its stake in shares of Adobe by 2.5% in the fourth quarter. Lantz Financial LLC now owns 689 shares of the software company’s stock valued at $411,000 after buying an additional 17 shares during the period. Finally, B & T Capital Management DBA Alpha Capital Management lifted its stake in shares of Adobe by 4.3% in the fourth quarter. B & T Capital Management DBA Alpha Capital Management now owns 417 shares of the software company’s stock valued at $249,000 after buying an additional 17 shares during the period. Institutional investors and hedge funds own 81.79% of the company’s stock.

Insider Buying and Selling

In related news, EVP Scott Belsky sold 2,713 shares of the stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $474.30, for a total transaction of $1,286,775.90. Following the sale, the executive vice president now owns 21,114 shares in the company, valued at approximately $10,014,370.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Adobe news, EVP Scott Belsky sold 2,713 shares of the firm’s stock in a transaction that occurred on 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 sale, the executive vice president now owns 21,114 shares in the company, valued at $10,014,370.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Anil Chakravarthy sold 100 shares of the firm’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $471.00, for a total transaction of $47,100.00. Following the completion of the sale, the insider now owns 33,609 shares in the company, valued at approximately $15,829,839. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,006 shares of company stock worth $1,424,432. Corporate insiders own 0.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ADBE. Sanford C. Bernstein raised their price target on shares of Adobe from $653.00 to $660.00 and gave the stock an “outperform” rating in a research note on Monday. Royal Bank of Canada restated an “outperform” rating and set a $600.00 price target on shares of Adobe in a research note on Friday. StockNews.com lowered shares of Adobe from a “buy” rating to a “hold” rating in a report on Wednesday, June 12th. TD Cowen dropped their price objective on shares of Adobe from $640.00 to $625.00 and set a “buy” rating for the company in a report on Monday, June 10th. Finally, Mizuho reaffirmed a “buy” rating and set a $640.00 price objective (down previously from $680.00) on shares of Adobe in a report on Friday, June 7th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-one have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $607.67.

Adobe Trading Down 0.1 %

ADBE opened at $518.12 on Tuesday. The stock has a market capitalization of $232.12 billion, a P/E ratio of 46.61, a P/E/G ratio of 2.84 and a beta of 1.27. Adobe Inc. has a 12 month low of $433.97 and a 12 month high of $638.25. The firm’s fifty day simple moving average is $475.32 and its 200 day simple moving average is $539.44. The company has a current ratio of 1.16, a quick ratio of 1.05 and a debt-to-equity ratio of 0.28.

Adobe (NASDAQ:ADBE) last released its quarterly earnings results on Thursday, June 13th. The software company reported $4.48 earnings per share for the quarter, beating the consensus estimate of $4.39 by $0.09. The firm had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $5.29 billion. Adobe had a net margin of 24.86% and a return on equity of 40.67%. The business’s revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the firm earned $3.04 EPS. As a group, research analysts anticipate that Adobe Inc. will post 14.55 EPS for the current fiscal year.

Adobe declared that its Board of Directors has authorized a share repurchase program on Thursday, March 14th that permits the company to buyback $25.00 billion in shares. This buyback authorization permits the software company to buy up to 10.8% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are 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.