Sender Co & Partners Inc. Buys Shares of 2,380 Adobe Inc. (NASDAQ:ADBE)

Sender Co & Partners Inc. purchased a new stake in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 2,380 shares of the software company's stock, valued at approximately $1,058,000. Adobe makes up approximately 1.0% of Sender Co & Partners Inc.'s investment portfolio, making the stock its 28th biggest position.

Several other hedge funds also recently made changes to their positions in ADBE. Siemens Fonds Invest GmbH boosted its holdings in Adobe by 252.9% in the fourth quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company's stock worth $25,000 after acquiring an additional 39,888 shares in the last quarter. Decker Retirement Planning Inc. bought a new stake in Adobe in the fourth quarter worth $31,000. Summit Securities Group LLC bought a new stake in Adobe in the fourth quarter worth $31,000. Caitlin John LLC boosted its holdings in Adobe by 171.4% in the fourth quarter. Caitlin John LLC now owns 76 shares of the software company's stock worth $34,000 after acquiring an additional 48 shares in the last quarter. Finally, Avion Wealth boosted its holdings in Adobe by 112.2% in the fourth quarter. Avion Wealth now owns 87 shares of the software company's stock worth $38,000 after acquiring an additional 46 shares in the last quarter. 81.79% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Adobe

In related news, CFO Daniel Durn bought 1,300 shares of the stock in a transaction dated Thursday, March 20th. The shares were purchased 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 directly owns 29,876 shares of the company's stock, valued at $11,668,968.08. This represents a 4.55% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.16% of the company's stock.

Adobe Stock Down 0.7%

NASDAQ:ADBE traded down $3.07 during mid-day trading on Tuesday, hitting $417.61. 2,452,158 shares of the company's stock traded hands, compared to its average volume of 3,446,688. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07. The company has a fifty day moving average of $375.32 and a 200 day moving average of $433.19. The company has a market capitalization of $177.99 billion, a P/E ratio of 33.68, a P/E/G ratio of 2.15 and a beta of 1.55. Adobe Inc. has a twelve month low of $332.01 and a twelve month high of $587.75.

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

Analyst Upgrades and Downgrades

ADBE has been the topic of several research reports. Piper Sandler dropped their target price on shares of Adobe from $600.00 to $500.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Evercore ISI decreased their price objective on Adobe from $650.00 to $550.00 and set an "outperform" rating on the stock in a research note on Thursday, March 13th. BMO Capital Markets cut their price target on Adobe from $495.00 to $450.00 and set an "outperform" rating for the company in a report on Wednesday, April 16th. Stifel Nicolaus lowered their price objective on Adobe from $600.00 to $525.00 and set a "buy" rating for the company in a research note on Thursday, March 13th. Finally, Royal Bank of Canada decreased their price target on Adobe from $530.00 to $480.00 and set an "outperform" rating for the company in a research note on Monday, April 14th. Eleven equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $502.88.

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.