Adobe Inc. (NASDAQ:ADBE) Shares Purchased by Guyasuta Investment Advisors Inc.

Guyasuta Investment Advisors Inc. boosted its holdings in Adobe Inc. (NASDAQ:ADBE) by 6.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 466 shares of the software company’s stock after acquiring an additional 30 shares during the quarter. Guyasuta Investment Advisors Inc.’s holdings in Adobe were worth $278,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. HBC Financial Services PLLC purchased a new position in Adobe in the third quarter worth $25,000. Wetzel Investment Advisors Inc. purchased a new position in Adobe in the fourth quarter worth $35,000. BluePath Capital Management LLC purchased a new position in Adobe in the third quarter worth $39,000. Hanseatic Management Services Inc. purchased a new position in shares of Adobe in the third quarter valued at $45,000. Finally, Hoey Investments Inc. increased its position in shares of Adobe by 526.7% in the third 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. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Insider Buying and Selling

In related news, CAO Mark S. Garfield sold 96 shares of the company’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $470.00, for a total transaction of $45,120.00. Following the completion of the transaction, the chief accounting officer now directly owns 4,128 shares in the company, valued at approximately $1,940,160. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, CAO Mark S. Garfield sold 96 shares of the stock in a transaction 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 completion of the transaction, the chief accounting officer now owns 4,128 shares of the company’s stock, valued at $1,940,160. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Anil Chakravarthy sold 100 shares of the stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $471.00, for a total value of $47,100.00. Following the completion of the transaction, the insider now directly owns 33,609 shares of the company’s stock, valued at approximately $15,829,839. The disclosure for this sale can be found here. Insiders sold a total of 293 shares of company stock worth $137,656 in the last three months. 0.15% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ADBE. Oppenheimer restated an “outperform” rating and issued a $660.00 price target on shares of Adobe in a research report on Wednesday, March 27th. HSBC decreased their price target on Adobe from $557.00 to $511.00 and set a “hold” rating on the stock in a research note on Friday, March 15th. TheStreet lowered Adobe from a “b-” rating to a “c+” rating in a research note on Tuesday, March 19th. TD Cowen reduced their price objective on Adobe from $650.00 to $640.00 and set an “outperform” rating on the stock in a research note on Friday, March 15th. Finally, Wells Fargo & Company reduced their price objective on Adobe from $690.00 to $675.00 and set an “overweight” rating on the stock in a research note on Friday, March 15th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat, Adobe has an average rating of “Moderate Buy” and a consensus target price of $620.72.

Adobe Price Performance

Shares of ADBE opened at $473.07 on Tuesday. The company has a market cap of $211.94 billion, a P/E ratio of 45.23, a PEG ratio of 2.59 and a beta of 1.28. The stock has a fifty day moving average price of $513.87 and a 200 day moving average price of $564.05. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.05 and a quick ratio of 1.05. Adobe Inc. has a 12 month low of $331.89 and a 12 month high of $638.25.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings data on Thursday, March 14th. The software company reported $4.48 EPS for the quarter, topping analysts’ consensus estimates of $4.38 by $0.10. The firm had revenue of $5.18 billion during the quarter, compared to the consensus estimate of $5.14 billion. Adobe had a return on equity of 39.12% and a net margin of 24.08%. The firm’s revenue was up 11.3% on a year-over-year basis. During the same period in the prior year, the business earned $2.97 EPS. On average, research analysts forecast that Adobe Inc. will post 14.55 earnings per share for the current year.

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

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.