Dynamic Technology Lab Private Ltd Has $864,000 Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

Dynamic Technology Lab Private Ltd cut its holdings in Adobe Inc. (NASDAQ:ADBE) by 51.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,449 shares of the software company’s stock after selling 1,525 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Adobe were worth $864,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ADBE. HBC Financial Services PLLC acquired a new stake in Adobe in the third quarter worth about $25,000. Wetzel Investment Advisors Inc. bought a new position in Adobe during the fourth quarter worth about $35,000. Hanseatic Management Services Inc. bought a new position in Adobe during the third quarter worth about $45,000. First Command Advisory Services Inc. bought a new position in Adobe during the third quarter worth about $52,000. Finally, BKM Wealth Management LLC bought a new position in Adobe during the fourth quarter worth about $65,000. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity 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 stock was sold at an average price of $470.00, for a total value 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 filing with the SEC, which can be accessed through this hyperlink. In other Adobe news, CAO Mark S. Garfield sold 96 shares of the 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 transaction, the chief accounting officer now owns 4,128 shares in the company, valued at $1,940,160. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Anil Chakravarthy sold 100 shares of the stock in a transaction that occurred 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 owns 33,609 shares in the company, valued at approximately $15,829,839. The disclosure for this sale can be found here. Insiders have sold a total of 3,006 shares of company stock worth $1,424,432 in the last 90 days. Corporate insiders own 0.15% of the company’s stock.

Adobe Trading Down 0.6 %

Shares of ADBE stock opened at $481.85 on Wednesday. The stock has a market cap of $215.87 billion, a price-to-earnings ratio of 46.07, a PEG ratio of 2.62 and a beta of 1.28. The stock has a 50-day moving average of $490.68 and a 200-day moving average of $557.34. 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 $361.72 and a 1-year high of $638.25.

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

Adobe declared that its board has authorized a share buyback plan on Thursday, March 14th that authorizes the company to repurchase $25.00 billion in outstanding shares. This repurchase authorization authorizes the software company to reacquire up to 10.8% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. BMO Capital Markets restated an “outperform” rating and set a $610.00 target price on shares of Adobe in a report on Wednesday, March 27th. HSBC reduced their target price on Adobe from $557.00 to $511.00 and set a “hold” rating on the stock in a report on Friday, March 15th. Mizuho reiterated a “buy” rating and set a $680.00 price objective on shares of Adobe in a report on Wednesday, March 27th. KeyCorp began coverage on Adobe in a report on Thursday, March 21st. They set an “underweight” rating and a $445.00 price objective on the stock. Finally, TD Cowen cut their price objective on Adobe from $650.00 to $640.00 and set an “outperform” rating on the stock in a report on Friday, March 15th. Two equities 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 company. According to MarketBeat.com, Adobe presently has a consensus rating of “Moderate Buy” and an average price target of $620.72.

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.