Adobe Inc. (NASDAQ:ADBE) Shares Bought by Guerra Pan Advisors LLC

Guerra Pan Advisors LLC lifted its position in Adobe Inc. (NASDAQ:ADBE) by 41.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,903 shares of the software company’s stock after acquiring an additional 555 shares during the quarter. Adobe accounts for approximately 1.1% of Guerra Pan Advisors LLC’s holdings, making the stock its 29th largest position. Guerra Pan Advisors LLC’s holdings in Adobe were worth $1,135,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. DGS Capital Management LLC boosted its position in Adobe by 5.1% during the 4th quarter. DGS Capital Management LLC now owns 1,862 shares of the software company’s stock valued at $1,111,000 after purchasing an additional 91 shares during the period. Saybrook Capital NC acquired a new position in Adobe during the 4th quarter valued at approximately $206,000. First American Trust FSB boosted its position in Adobe by 2.2% during the 4th quarter. First American Trust FSB now owns 12,288 shares of the software company’s stock valued at $7,331,000 after purchasing an additional 260 shares during the period. Hamilton Point Investment Advisors LLC boosted its position in Adobe by 1.3% during the 4th quarter. Hamilton Point Investment Advisors LLC now owns 19,789 shares of the software company’s stock valued at $11,806,000 after purchasing an additional 248 shares during the period. Finally, Eads & Heald Wealth Management boosted its position in Adobe by 37.5% during the 4th quarter. Eads & Heald Wealth Management now owns 4,549 shares of the software company’s stock valued at $2,714,000 after purchasing an additional 1,241 shares during the period. Institutional investors and hedge funds 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 transaction of $1,318,346.61. Following the completion of the sale, the executive vice president now owns 23,508 shares in the company, valued at approximately $14,144,998.68. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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 transaction of $1,318,346.61. Following the completion of the sale, the executive vice president now owns 23,508 shares in the company, valued at approximately $14,144,998.68. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Mark S. Garfield sold 788 shares of the company’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 sale, the chief accounting officer now owns 4,055 shares of the company’s stock, valued at approximately $2,495,528.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,063 shares of company stock worth $1,853,025. 0.15% of the stock is owned by corporate insiders.

Adobe Stock Up 1.1 %

Shares of ADBE stock traded up $5.40 on Tuesday, reaching $475.50. 1,132,402 shares of the company’s stock traded hands, compared to its average volume of 3,591,555. Adobe Inc. has a 12-month low of $331.89 and a 12-month high of $638.25. 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 capitalization of $213.02 billion, a P/E ratio of 45.19, a price-to-earnings-growth ratio of 2.57 and a beta of 1.28. The business’s 50 day moving average price is $538.63 and its two-hundred day moving average price is $567.86.

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

Adobe declared that its board has authorized a stock repurchase program on Thursday, March 14th that allows the company to buyback $25.00 billion in shares. This buyback authorization allows the software company to reacquire up to 10.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. BNP Paribas lowered Adobe from a “neutral” rating to an “underperform” rating and set a $499.00 price objective for the company. in a research report on Thursday, January 18th. Mizuho reaffirmed a “buy” rating and set a $680.00 target price on shares of Adobe in a research note on Wednesday, March 27th. TD Cowen cut their target price on Adobe from $650.00 to $640.00 and set an “outperform” rating on the stock in a research note on Friday, March 15th. Wells Fargo & Company cut their target price on Adobe from $690.00 to $675.00 and set an “overweight” rating on the stock in a research note on Friday, March 15th. Finally, Stifel Nicolaus cut their target price on Adobe from $650.00 to $625.00 and set a “buy” rating on the stock in a research note on Friday, March 15th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and twenty have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $620.72.

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.