Donaldson Capital Management LLC Raises Holdings in Adobe Inc. (NASDAQ:ADBE)

Donaldson Capital Management LLC raised its position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 31.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,849 shares of the software company's stock after acquiring an additional 3,067 shares during the quarter. Donaldson Capital Management LLC's holdings in Adobe were worth $7,665,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Iron Horse Wealth Management LLC acquired a new stake in Adobe during the third quarter worth approximately $25,000. HBC Financial Services PLLC acquired a new stake in Adobe during the third quarter worth approximately $25,000. Global Wealth Strategies & Associates grew its stake in Adobe by 57.6% in the third quarter. Global Wealth Strategies & Associates now owns 52 shares of the software company's stock valued at $27,000 after acquiring an additional 19 shares during the period. BluePath Capital Management LLC acquired a new stake in Adobe in the third quarter valued at approximately $39,000. Finally, ST Germain D J Co. Inc. acquired a new stake in Adobe in the second quarter valued at approximately $38,000. Institutional investors own 81.79% of the company's stock.

Insider Transactions at Adobe

In other news, EVP Scott Belsky sold 2,191 shares of the company's stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $601.71, for a total value of $1,318,346.61. Following the completion of the transaction, the executive vice president now directly owns 23,508 shares in the company, valued at approximately $14,144,998.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Mark S. Garfield sold 788 shares of the business's stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $615.42, for a total value of $484,950.96. Following the completion of the sale, the chief accounting officer now owns 4,055 shares of the company's stock, valued at approximately $2,495,528.10. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Scott Belsky sold 2,191 shares of the business's stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $601.71, for a total value of $1,318,346.61. Following the completion of the sale, the executive vice president now directly owns 23,508 shares of the company's stock, valued at approximately $14,144,998.68. The disclosure for this sale can be found here. In the last three months, insiders sold 3,063 shares of company stock worth $1,853,025. 0.15% of the stock is currently owned by corporate insiders.

Adobe Price Performance

Adobe stock traded down $3.99 during midday trading on Monday, hitting $470.10. 3,352,074 shares of the company's stock were exchanged, compared to its average volume of 3,626,582. Adobe Inc. has a 52-week low of $331.89 and a 52-week high of $638.25. The stock has a 50-day moving average price of $538.63 and a two-hundred day moving average price of $567.86. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.05 and a current ratio of 1.05. The company has a market cap of $210.60 billion, a P/E ratio of 44.94, a PEG ratio of 2.57 and a beta of 1.28.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its earnings results on Thursday, March 14th. The software company reported $4.48 EPS for the quarter, topping 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 business had revenue of $5.18 billion during the quarter, compared to analysts' expectations of $5.14 billion. During the same period in the previous year, the business earned $2.97 earnings per share. The firm's revenue was up 11.3% on a year-over-year basis. On average, equities research analysts forecast that Adobe Inc. will post 14.55 earnings per share for the current year.

Adobe announced that its board has authorized a share repurchase plan on Thursday, March 14th that authorizes the company to repurchase $25.00 billion in shares. This repurchase authorization authorizes the software company to buy up to 10.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's management believes its stock is undervalued.

Wall Street Analyst Weigh In

ADBE has been the subject of a number of research reports. Mizuho reissued a "buy" rating and issued a $680.00 price objective on shares of Adobe in a research note on Wednesday, March 27th. Royal Bank of Canada reissued an "outperform" rating and issued a $630.00 price objective on shares of Adobe in a research note on Wednesday, March 27th. Bank of America dropped their target price on Adobe from $700.00 to $640.00 and set a "buy" rating on the stock in a report on Friday, March 15th. TD Cowen dropped their target price on Adobe from $650.00 to $640.00 and set an "outperform" rating on the stock in a report on Friday, March 15th. Finally, Robert W. Baird dropped their target price on Adobe from $590.00 to $525.00 and set a "neutral" rating on the stock in a report on Friday, March 15th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat, Adobe currently has an average rating of "Moderate Buy" and an average price target of $620.72.

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.