Sora Investors LLC bought a new position in Adobe Inc. (NASDAQ:ADBE - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 24,047 shares of the software company's stock, valued at approximately $10,693,000.
Several other large investors also recently modified their holdings of the business. Decker Retirement Planning Inc. purchased a new position in shares of Adobe during the fourth quarter valued at approximately $31,000. Summit Securities Group LLC purchased a new position in shares of Adobe during the fourth quarter valued at approximately $31,000. Caitlin John LLC lifted its holdings in shares of Adobe by 171.4% during the fourth quarter. Caitlin John LLC now owns 76 shares of the software company's stock valued at $34,000 after purchasing an additional 48 shares during the last quarter. Avion Wealth lifted its holdings in shares of Adobe by 112.2% during the fourth quarter. Avion Wealth now owns 87 shares of the software company's stock valued at $38,000 after purchasing an additional 46 shares during the last quarter. Finally, Mascoma Wealth Management LLC lifted its holdings in shares of Adobe by 142.9% during the fourth quarter. Mascoma Wealth Management LLC now owns 85 shares of the software company's stock valued at $38,000 after purchasing an additional 50 shares during the last quarter. 81.79% of the stock is owned by institutional investors.
Adobe Price Performance
Shares of ADBE traded up $3.55 during midday trading on Monday, hitting $420.68. 3,005,315 shares of the company traded hands, compared to its average volume of 3,444,395. The firm has a 50 day moving average of $375.68 and a 200-day moving average of $433.63. Adobe Inc. has a 52 week low of $332.01 and a 52 week high of $587.75. The stock has a market cap of $179.29 billion, a price-to-earnings ratio of 33.93, a PEG ratio of 2.15 and a beta of 1.55. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07.
Adobe (NASDAQ:ADBE - Get Free Report) last released its quarterly earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.97 by $0.11. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The company had revenue of $5.71 billion for the quarter, compared to the consensus estimate of $5.66 billion. During the same quarter in the prior year, the firm earned $4.48 earnings per share. On average, analysts forecast that Adobe Inc. will post 16.65 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of equities analysts recently weighed in on ADBE shares. Evercore ISI decreased their price objective on shares of Adobe from $650.00 to $550.00 and set an "outperform" rating for the company in a report on Thursday, March 13th. Piper Sandler decreased their price objective on shares of Adobe from $600.00 to $500.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Wells Fargo & Company decreased their price objective on shares of Adobe from $600.00 to $430.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. JPMorgan Chase & Co. lowered their price target on Adobe from $580.00 to $540.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Finally, Mizuho lowered their price target on Adobe from $620.00 to $575.00 and set an "outperform" rating on the stock in a report on Thursday, March 13th. Eleven equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Adobe has an average rating of "Moderate Buy" and an average price target of $502.88.
Get Our Latest Research Report on ADBE
Insider Buying and Selling
In other news, CFO Daniel Durn acquired 1,300 shares of the company's stock in a transaction on Thursday, March 20th. The stock was bought at an average cost of $390.58 per share, with a total value 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 filing with the Securities & Exchange Commission, which is available at the SEC website. 0.16% of the stock is currently owned by company insiders.
Adobe Profile
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Free Report)
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.
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