Ewa LLC Has $421,000 Stake in Adobe Inc. (NASDAQ:ADBE)

Ewa LLC increased its holdings in Adobe Inc. (NASDAQ:ADBE) by 4.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 663 shares of the software company’s stock after buying an additional 30 shares during the period. Ewa LLC’s holdings in Adobe were worth $421,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. HBC Financial Services PLLC bought a new position in Adobe in the third quarter valued at approximately $25,000. Global Wealth Strategies & Associates increased its stake in Adobe by 57.6% in the third quarter. Global Wealth Strategies & Associates now owns 52 shares of the software company’s stock valued at $27,000 after acquiring an additional 19 shares during the last quarter. Wetzel Investment Advisors Inc. bought a new position in Adobe in the fourth quarter valued at approximately $35,000. BluePath Capital Management LLC bought a new position in Adobe in the third quarter valued at approximately $39,000. Finally, Hanseatic Management Services Inc. bought a new position in Adobe in the third quarter valued at approximately $45,000. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Adobe Trading Down 1.3 %

ADBE stock traded down $6.02 during midday trading on Monday, hitting $471.54. The stock had a trading volume of 1,412,683 shares, compared to its average volume of 3,471,578. The firm has a market cap of $211.25 billion, a P/E ratio of 45.74, a price-to-earnings-growth ratio of 2.59 and a beta of 1.28. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.14. Adobe Inc. has a 1-year low of $331.89 and a 1-year high of $638.25. The business has a fifty day moving average price of $515.34 and a two-hundred day moving average price of $564.66.

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

Adobe announced that its board has approved a stock repurchase program on Thursday, March 14th that allows the company to buyback $25.00 billion in shares. This buyback authorization allows the software company to repurchase up to 10.8% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ADBE. Wells Fargo & Company decreased their price objective on shares of Adobe from $690.00 to $675.00 and set an “overweight” rating on the stock in a research note on Friday, March 15th. Royal Bank of Canada reissued an “outperform” rating and issued a $630.00 price objective on shares of Adobe in a research note on Wednesday, March 27th. JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a research note on Thursday, March 28th. KeyCorp began coverage on shares of Adobe in a research note on Thursday, March 21st. They set an “underweight” rating and a $445.00 target price on the stock. Finally, Mizuho reaffirmed a “buy” rating and set a $680.00 target price on shares of Adobe in a research note on Wednesday, March 27th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $620.72.

Insider Activity

In other news, CAO Mark S. Garfield sold 96 shares of the company’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $470.00, for a total transaction of $45,120.00. Following the transaction, the chief accounting officer now owns 4,128 shares in the company, valued at $1,940,160. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Mark S. Garfield sold 97 shares of the business’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $468.41, for a total transaction of $45,435.77. Following the completion of the sale, the chief accounting officer now directly owns 4,128 shares of the company’s stock, valued at $1,933,596.48. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Mark S. Garfield sold 96 shares of the business’s stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $470.00, for a total transaction of $45,120.00. Following the sale, the chief accounting officer now directly owns 4,128 shares of the company’s stock, valued at $1,940,160. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 293 shares of company stock worth $137,656. Company insiders own 0.15% of the company’s stock.

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.