Adobe Inc. (NASDAQ:ADBE) Position Boosted by Geo Capital Gestora de Recursos Ltd

Geo Capital Gestora de Recursos Ltd grew its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 477.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 4,857 shares of the software company’s stock after purchasing an additional 4,016 shares during the period. Adobe comprises approximately 2.8% of Geo Capital Gestora de Recursos Ltd’s portfolio, making the stock its 17th biggest holding. Geo Capital Gestora de Recursos Ltd’s holdings in Adobe were worth $2,160,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Mizuho Securities USA LLC lifted its stake in Adobe by 45.1% during the fourth quarter. Mizuho Securities USA LLC now owns 41,721 shares of the software company’s stock valued at $18,552,000 after buying an additional 12,969 shares in the last quarter. Fi3 FINANCIAL ADVISORS LLC lifted its stake in Adobe by 20.8% during the fourth quarter. Fi3 FINANCIAL ADVISORS LLC now owns 547 shares of the software company’s stock valued at $243,000 after buying an additional 94 shares in the last quarter. Virtu Financial LLC lifted its stake in Adobe by 198.8% during the fourth quarter. Virtu Financial LLC now owns 24,045 shares of the software company’s stock valued at $10,692,000 after buying an additional 15,997 shares in the last quarter. ZEGA Investments LLC purchased a new stake in Adobe during the fourth quarter valued at about $920,000. Finally, Millstone Evans Group LLC purchased a new stake in Adobe during the fourth quarter valued at about $48,000. Institutional investors own 81.79% of the company’s stock.

Insider Transactions at Adobe

In related news, CFO Daniel Durn acquired 1,300 shares of the stock in a transaction dated Thursday, March 20th. The shares were acquired at an average price of $390.58 per share, for a total transaction of $507,754.00. Following the completion of the purchase, the chief financial officer now owns 29,876 shares in the company, valued at approximately $11,668,968.08. The trade was a 4.55 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Jillian Forusz sold 334 shares of the firm’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total transaction of $145,567.22. Following the completion of the sale, the chief accounting officer now owns 2,685 shares in the company, valued at approximately $1,170,203.55. The trade was a 11.06 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,075 shares of company stock worth $2,191,826. Insiders own 0.16% of the company’s stock.

Adobe Trading Down 0.6 %

Shares of ADBE stock opened at $387.26 on Friday. Adobe Inc. has a 12 month low of $374.50 and a 12 month high of $587.75. 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 business’s 50 day moving average is $434.16 and its two-hundred day moving average is $476.46. The company has a market cap of $168.62 billion, a PE ratio of 31.23, a price-to-earnings-growth ratio of 2.15 and a beta of 1.37.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Wednesday, March 12th. The software company reported $5.08 EPS for the quarter, beating the consensus estimate of $4.97 by $0.11. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The company had revenue of $5.71 billion for the quarter, compared to the consensus estimate of $5.66 billion. During the same quarter last year, the company posted $4.48 earnings per share. Equities analysts predict that Adobe Inc. will post 16.65 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on ADBE shares. Oppenheimer reduced their price objective on shares of Adobe from $560.00 to $530.00 and set an “outperform” rating for the company in a research note on Thursday, March 13th. JMP Securities reissued a “market perform” rating on shares of Adobe in a research report on Thursday, December 12th. Jefferies Financial Group reduced their price target on shares of Adobe from $700.00 to $650.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. BMO Capital Markets reduced their price target on shares of Adobe from $515.00 to $495.00 and set an “outperform” rating for the company in a research report on Thursday, March 13th. Finally, KeyCorp raised shares of Adobe from an “underweight” rating to a “sector weight” rating in a research report on Friday. Eleven equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Adobe currently has a consensus rating of “Moderate Buy” and an average target price of $538.80.

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.