M. Kraus & Co Buys New Shares in Adobe Inc. (NASDAQ:ADBE)

M. Kraus & Co purchased a new position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 7,388 shares of the software company's stock, valued at approximately $3,285,000. Adobe makes up approximately 1.0% of M. Kraus & Co's holdings, making the stock its 29th largest holding.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Nordea Investment Management AB boosted its stake in shares of Adobe by 2.0% in the 4th quarter. Nordea Investment Management AB now owns 1,712,616 shares of the software company's stock valued at $765,094,000 after purchasing an additional 33,414 shares in the last quarter. Public Sector Pension Investment Board boosted its position in Adobe by 12.2% in the third quarter. Public Sector Pension Investment Board now owns 19,322 shares of the software company's stock valued at $10,005,000 after buying an additional 2,100 shares in the last quarter. GAMMA Investing LLC grew its stake in Adobe by 28.0% during the third quarter. GAMMA Investing LLC now owns 6,458 shares of the software company's stock worth $3,344,000 after buying an additional 1,412 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in shares of Adobe by 201.0% during the third quarter. Jacobs Levy Equity Management Inc. now owns 117,383 shares of the software company's stock worth $60,779,000 after buying an additional 78,384 shares in the last quarter. Finally, Morse Asset Management Inc raised its stake in shares of Adobe by 33.0% in the third quarter. Morse Asset Management Inc now owns 8,519 shares of the software company's stock valued at $4,411,000 after acquiring an additional 2,113 shares during the last quarter. Institutional investors own 81.79% of the company's stock.

Insider Activity at Adobe

In other Adobe news, CAO Jillian Forusz sold 676 shares of the stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $484.97, for a total transaction of $327,839.72. Following the completion of the transaction, the chief accounting officer now owns 2,715 shares in the company, valued at approximately $1,316,693.55. This represents a 19.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Amy Banse sold 606 shares of the business's stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $550.00, for a total value of $333,300.00. Following the completion of the sale, the director now owns 32,929 shares in the company, valued at approximately $18,110,950. This trade represents a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,763 shares of company stock worth $893,665. 0.15% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Mizuho decreased their price target on Adobe from $640.00 to $620.00 and set an "outperform" rating on the stock in a research report on Thursday, December 12th. Piper Sandler lowered their target price on Adobe from $635.00 to $600.00 and set an "overweight" rating for the company in a research note on Thursday, December 12th. UBS Group reduced their price target on shares of Adobe from $525.00 to $475.00 and set a "neutral" rating on the stock in a research report on Friday, January 3rd. Stifel Nicolaus lowered their price objective on shares of Adobe from $650.00 to $600.00 and set a "buy" rating for the company in a research report on Thursday, December 12th. Finally, BMO Capital Markets reduced their target price on shares of Adobe from $600.00 to $570.00 and set an "outperform" rating on the stock in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $573.00.

Adobe Trading Up 1.1 %

Shares of NASDAQ ADBE traded up $4.57 during midday trading on Wednesday, reaching $417.28. 4,341,743 shares of the stock were exchanged, compared to its average volume of 4,205,873. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.11 and a quick ratio of 1.11. Adobe Inc. has a 12 month low of $403.75 and a 12 month high of $638.25. The business has a 50-day simple moving average of $481.07 and a two-hundred day simple moving average of $515.02. The company has a market capitalization of $183.69 billion, a price-to-earnings ratio of 33.65, a P/E/G ratio of 2.51 and a beta of 1.31.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share for the quarter, topping the consensus estimate of $4.67 by $0.14. Adobe had a return on equity of 45.22% and a net margin of 25.85%. The firm had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.54 billion. During the same period in the previous year, the company posted $3.52 earnings per share. The company's revenue for the quarter was up 11.1% on a year-over-year basis. As a group, equities research analysts expect that Adobe Inc. will post 16.73 EPS for the current year.

About Adobe

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.