Adobe Inc. (NASDAQ:ADBE) Shares Acquired by Certuity LLC

Certuity LLC lifted its position in Adobe Inc. (NASDAQ:ADBE) by 56.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 3,673 shares of the software company’s stock after acquiring an additional 1,321 shares during the quarter. Certuity LLC’s holdings in Adobe were worth $2,191,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in ADBE. HBC Financial Services PLLC acquired a new stake in Adobe in the 3rd quarter valued at $25,000. Wetzel Investment Advisors Inc. acquired a new stake in shares of Adobe in the fourth quarter valued at about $35,000. BluePath Capital Management LLC purchased a new stake in shares of Adobe during the third quarter worth about $39,000. Hanseatic Management Services Inc. acquired a new position in shares of Adobe during the 3rd quarter worth about $45,000. Finally, Hoey Investments Inc. lifted its stake in Adobe by 526.7% in the 3rd quarter. Hoey Investments Inc. now owns 94 shares of the software company’s stock valued at $48,000 after buying an additional 79 shares in the last quarter. 81.79% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Adobe

In other Adobe news, CAO Mark S. Garfield sold 96 shares of the stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $470.00, for a total value of $45,120.00. Following the sale, the chief accounting officer now directly owns 4,128 shares of the company’s stock, valued at approximately $1,940,160. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CAO Mark S. Garfield sold 97 shares of the stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $468.41, for a total value of $45,435.77. Following the transaction, the chief accounting officer now owns 4,128 shares in the company, valued at approximately $1,933,596.48. The transaction was disclosed in a document filed 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 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 sale, the chief accounting officer now owns 4,128 shares of the company’s stock, valued at approximately $1,940,160. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 293 shares of company stock valued at $137,656. 0.15% of the stock is currently owned by corporate insiders.

Adobe Stock Down 1.4 %

Adobe stock traded down $6.65 during mid-day trading on Tuesday, reaching $466.42. 1,278,764 shares of the company’s stock were exchanged, compared to its average volume of 3,463,994. Adobe Inc. has a twelve month low of $331.89 and a twelve month high of $638.25. The company has a fifty day moving average of $513.87 and a 200-day moving average of $564.05. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.14. The company has a market cap of $208.96 billion, a P/E ratio of 44.98, a P/E/G ratio of 2.59 and a beta of 1.28.

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 analysts’ consensus estimates of $4.38 by $0.10. Adobe had a return on equity of 39.12% and a net margin of 24.08%. The firm had revenue of $5.18 billion during the quarter, compared to analyst estimates of $5.14 billion. During the same period last year, the business posted $2.97 earnings per share. Adobe’s revenue was up 11.3% compared to the same quarter last year. Sell-side analysts expect that Adobe Inc. will post 14.55 EPS for the current year.

Adobe announced that its Board of Directors has authorized a stock repurchase program on Thursday, March 14th that authorizes the company to buyback $25.00 billion in shares. This buyback authorization authorizes the software company to buy up to 10.8% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ADBE. BNP Paribas cut Adobe from a “neutral” rating to an “underperform” rating and set a $499.00 target price for the company. in a report on Thursday, January 18th. TheStreet cut shares of Adobe from a “b-” rating to a “c+” rating in a research note on Tuesday, March 19th. Oppenheimer reissued an “outperform” rating and issued a $660.00 target price on shares of Adobe in a research note on Wednesday, March 27th. UBS Group cut their price target on Adobe from $600.00 to $540.00 and set a “neutral” rating for the company in a report on Friday, March 15th. Finally, JMP Securities reissued a “market perform” rating on shares of Adobe in a research note on Thursday, March 28th. Two analysts have rated the stock with a sell rating, six have given a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat.com, Adobe has a consensus 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.