Gamco Investors INC. ET AL Boosts Position in Adobe Inc. (NASDAQ:ADBE)

Gamco Investors INC. ET AL increased its holdings in Adobe Inc. (NASDAQ:ADBE) by 3.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,678 shares of the software company’s stock after acquiring an additional 49 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Adobe were worth $746,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Gabelli Funds LLC lifted its position in shares of Adobe by 0.4% in the 4th quarter. Gabelli Funds LLC now owns 21,500 shares of the software company’s stock worth $9,561,000 after purchasing an additional 95 shares during the period. Montag & Caldwell LLC lifted its holdings in Adobe by 17.5% in the fourth quarter. Montag & Caldwell LLC now owns 25,986 shares of the software company’s stock worth $11,555,000 after buying an additional 3,870 shares during the period. Jump Financial LLC boosted its position in Adobe by 224.8% during the 4th quarter. Jump Financial LLC now owns 17,813 shares of the software company’s stock valued at $7,921,000 after acquiring an additional 12,329 shares in the last quarter. Anchor Investment Management LLC raised its position in shares of Adobe by 1.9% in the 4th quarter. Anchor Investment Management LLC now owns 16,574 shares of the software company’s stock worth $7,370,000 after acquiring an additional 313 shares in the last quarter. Finally, Bridgewater Associates LP lifted its stake in shares of Adobe by 424.4% in the 4th quarter. Bridgewater Associates LP now owns 235,756 shares of the software company’s stock valued at $104,836,000 after purchasing an additional 190,802 shares during the period. Institutional investors own 81.79% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on ADBE shares. Stifel Nicolaus reduced their price target on Adobe from $600.00 to $525.00 and set a “buy” rating on the stock in a research note on Thursday, March 13th. Citigroup reduced their target price on shares of Adobe from $551.00 to $490.00 and set a “neutral” rating on the stock in a research report on Monday, March 10th. Mizuho lowered their price target on shares of Adobe from $620.00 to $575.00 and set an “outperform” rating for the company in a research report on Thursday, March 13th. Wells Fargo & Company cut their price objective on shares of Adobe from $640.00 to $600.00 and set an “overweight” rating on the stock in a report on Friday, March 7th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Adobe from $580.00 to $540.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Eleven analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $513.27.

Adobe Stock Up 1.3 %

Shares of ADBE stock opened at $348.80 on Friday. The company has a 50 day simple moving average of $403.54 and a two-hundred day simple moving average of $450.43. The stock has a market cap of $148.66 billion, a P/E ratio of 28.13, a P/E/G ratio of 2.15 and a beta of 1.49. Adobe Inc. has a 12 month low of $332.01 and a 12 month high of $587.75. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29.

Adobe (NASDAQ:ADBE) last released its earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share for the quarter, beating the consensus estimate of $4.97 by $0.11. The company had revenue of $5.71 billion for the quarter, compared to the consensus estimate of $5.66 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. During the same period in the previous year, the business earned $4.48 earnings per share. On average, research analysts expect that Adobe Inc. will post 16.65 earnings per share for the current year.

Insiders Place Their Bets

In other Adobe news, Director David A. Ricks bought 2,250 shares of the business’s stock in a transaction that occurred on Tuesday, January 28th. The stock was purchased at an average price of $443.98 per share, for a total transaction of $998,955.00. Following the completion of the transaction, the director now owns 4,984 shares of the company’s stock, valued at $2,212,796.32. This trade represents a 82.30 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Daniel Durn purchased 1,300 shares of the company’s stock in a transaction on Thursday, March 20th. The stock was acquired at an average price 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 in the company, valued at $11,668,968.08. This trade represents a 4.55 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 5,075 shares of company stock worth $2,191,826. Company insiders own 0.16% of the company’s stock.

Adobe 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.