Hudock Inc. Purchases 493 Shares of Adobe Inc. (NASDAQ:ADBE)

Hudock Inc. boosted its position in shares of Adobe Inc. (NASDAQ:ADBE) by 75.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,146 shares of the software company’s stock after buying an additional 493 shares during the quarter. Hudock Inc.’s holdings in Adobe were worth $510,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Nordea Investment Management AB raised its holdings in Adobe by 2.0% in the 4th quarter. Nordea Investment Management AB now owns 1,712,616 shares of the software company’s stock worth $765,094,000 after purchasing an additional 33,414 shares in the last quarter. Public Sector Pension Investment Board grew its position in shares of Adobe by 12.2% in the 3rd quarter. Public Sector Pension Investment Board now owns 19,322 shares of the software company’s stock worth $10,005,000 after buying an additional 2,100 shares during the period. Jacobs Levy Equity Management Inc. grew its position in shares of Adobe by 201.0% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 117,383 shares of the software company’s stock worth $60,779,000 after buying an additional 78,384 shares during the period. Morse Asset Management Inc grew its position in shares of Adobe by 33.0% in the 3rd quarter. Morse Asset Management Inc now owns 8,519 shares of the software company’s stock worth $4,411,000 after buying an additional 2,113 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its position in shares of Adobe by 1.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 99,150 shares of the software company’s stock worth $44,090,000 after buying an additional 1,326 shares during the period. 81.79% of the stock is currently owned by institutional investors.

Adobe Price Performance

Shares of NASDAQ:ADBE opened at $462.76 on Thursday. The firm’s 50 day moving average price is $451.47 and its 200-day moving average price is $497.93. Adobe Inc. has a twelve month low of $403.75 and a twelve month high of $610.33. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $201.44 billion, a PE ratio of 37.32, a price-to-earnings-growth ratio of 2.11 and a beta of 1.31.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 earnings per share for the quarter, topping 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 firm had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.54 billion. During the same quarter in the prior year, the business earned $3.52 EPS. The business’s quarterly revenue was up 11.1% on a year-over-year basis. Equities research analysts expect that Adobe Inc. will post 16.65 EPS for the current year.

Insiders Place Their Bets

In other news, Director David A. Ricks bought 2,250 shares of the firm’s stock in a transaction on Tuesday, January 28th. The shares were bought at an average price of $443.98 per share, for a total transaction of $998,955.00. Following the purchase, the director now owns 4,984 shares in the company, valued at approximately $2,212,796.32. The trade was a 82.30 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Amy Banse sold 606 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $550.00, for a total transaction of $333,300.00. Following the sale, the director now owns 32,929 shares in the company, valued at approximately $18,110,950. The trade was a 1.81 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,681 shares of company stock worth $2,525,126. Company insiders own 0.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on ADBE shares. StockNews.com raised shares of Adobe from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, January 28th. Sanford C. Bernstein reduced their target price on shares of Adobe from $644.00 to $587.00 and set an “outperform” rating on the stock in a research report on Thursday, December 12th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $475.00 price objective (down from $600.00) on shares of Adobe in a research report on Wednesday, January 8th. Piper Sandler cut their price objective on shares of Adobe from $635.00 to $600.00 and set an “overweight” rating on the stock in a research report on Thursday, December 12th. Finally, Mizuho cut their price objective on shares of Adobe from $640.00 to $620.00 and set an “outperform” rating on the stock in a research report on Thursday, December 12th. One analyst has rated the stock with a sell rating, ten have given a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Adobe currently has a consensus rating of “Moderate Buy” and an average target price of $573.00.

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.