Dohj LLC Reduces Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

Dohj LLC lessened its position in shares of Adobe Inc. (NASDAQ:ADBE) by 13.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,235 shares of the software company’s stock after selling 679 shares during the quarter. Dohj LLC’s holdings in Adobe were worth $2,527,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. One Charles Private Wealth Services LLC grew its stake in Adobe by 2.2% during the 3rd quarter. One Charles Private Wealth Services LLC now owns 785 shares of the software company’s stock valued at $400,000 after purchasing an additional 17 shares during the last quarter. Invst LLC boosted its stake in shares of Adobe by 1.9% in the third quarter. Invst LLC now owns 915 shares of the software company’s stock worth $467,000 after buying an additional 17 shares during the last quarter. Raleigh Capital Management Inc. boosted its stake in shares of Adobe by 3.1% in the third quarter. Raleigh Capital Management Inc. now owns 559 shares of the software company’s stock worth $285,000 after buying an additional 17 shares during the last quarter. Lantz Financial LLC boosted its stake in shares of Adobe by 2.5% in the fourth quarter. Lantz Financial LLC now owns 689 shares of the software company’s stock worth $411,000 after buying an additional 17 shares during the last quarter. Finally, B & T Capital Management DBA Alpha Capital Management boosted its stake in shares of Adobe by 4.3% in the fourth quarter. B & T Capital Management DBA Alpha Capital Management now owns 417 shares of the software company’s stock worth $249,000 after buying an additional 17 shares during the last quarter. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Adobe Trading Up 0.9 %

Shares of Adobe stock traded up $4.12 during trading hours on Friday, reaching $477.56. 2,460,261 shares of the company’s stock were exchanged, compared to its average volume of 2,815,745. Adobe Inc. has a 52-week low of $331.89 and a 52-week high of $638.25. The firm has a market capitalization of $213.95 billion, a price-to-earnings ratio of 45.66, a price-to-earnings-growth ratio of 2.59 and a beta of 1.28. The company has a fifty day moving average of $515.34 and a 200-day moving average of $564.55. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.14.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Thursday, March 14th. The software company reported $4.48 EPS for the quarter, topping analysts’ consensus estimates of $4.38 by $0.10. The business had revenue of $5.18 billion during the quarter, compared to the consensus estimate of $5.14 billion. Adobe had a return on equity of 39.12% and a net margin of 24.08%. The business’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same period in the prior year, the firm posted $2.97 EPS. Sell-side analysts forecast that Adobe Inc. will post 14.55 EPS for the current fiscal year.

Adobe declared that its Board of Directors has initiated a share buyback program on Thursday, March 14th that allows the company to repurchase $25.00 billion in outstanding shares. This repurchase authorization allows the software company to buy up to 10.8% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Insider Transactions at Adobe

In other news, insider Anil Chakravarthy sold 100 shares of the company’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $471.00, for a total transaction of $47,100.00. Following the completion of the sale, the insider now directly owns 33,609 shares in the company, valued at approximately $15,829,839. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Anil Chakravarthy sold 100 shares of the stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $471.00, for a total value of $47,100.00. Following the completion of the sale, the insider now directly owns 33,609 shares in the company, valued at approximately $15,829,839. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Mark S. Garfield sold 97 shares of the stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $468.41, for a total value of $45,435.77. Following the completion of the sale, the chief accounting officer now owns 4,128 shares of the company’s stock, valued at $1,933,596.48. The disclosure for this sale can be found here. Insiders sold a total of 293 shares of company stock worth $137,656 in the last ninety days. Insiders own 0.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. JPMorgan Chase & Co. lowered their target price on Adobe from $600.00 to $570.00 and set a “neutral” rating on the stock in a research note on Friday, March 15th. Bank of America reduced their price target on Adobe from $700.00 to $640.00 and set a “buy” rating for the company in a report on Friday, March 15th. Barclays reduced their price target on Adobe from $700.00 to $630.00 and set an “overweight” rating for the company in a report on Friday, March 15th. BNP Paribas cut Adobe from a “neutral” rating to an “underperform” rating and set a $499.00 price target for the company. in a report on Thursday, January 18th. Finally, UBS Group reduced their price target on Adobe from $600.00 to $540.00 and set a “neutral” rating for the company in a report on Friday, March 15th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.