2,532 Shares in Adobe Inc. (NASDAQ:ADBE) Bought by Rahlfs Capital LLC

Rahlfs Capital LLC acquired a new stake in shares of Adobe Inc. (NASDAQ:ADBE) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 2,532 shares of the software company’s stock, valued at approximately $1,126,000. Adobe comprises about 1.0% of Rahlfs Capital LLC’s holdings, making the stock its 26th biggest holding.

Several other large investors have also recently modified their holdings of the stock. Hemenway Trust Co LLC grew its position in shares of Adobe by 19.4% in the 4th quarter. Hemenway Trust Co LLC now owns 12,186 shares of the software company’s stock worth $5,419,000 after buying an additional 1,984 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC boosted its holdings in Adobe by 56.7% in the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 3,245 shares of the software company’s stock valued at $1,443,000 after acquiring an additional 1,174 shares in the last quarter. Pilgrim Partners Asia Pte Ltd purchased a new position in Adobe during the 4th quarter valued at $98,000. Dempze Nancy E raised its holdings in Adobe by 40.6% in the 4th quarter. Dempze Nancy E now owns 744 shares of the software company’s stock worth $331,000 after purchasing an additional 215 shares in the last quarter. Finally, KCM Investment Advisors LLC lifted its position in shares of Adobe by 5.2% in the 4th quarter. KCM Investment Advisors LLC now owns 8,950 shares of the software company’s stock worth $3,980,000 after purchasing an additional 443 shares during the period. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Insider Activity at Adobe

In other Adobe news, CFO Daniel Durn acquired 1,300 shares of the company’s stock in a transaction dated Thursday, March 20th. The shares were acquired at an average cost of $390.58 per share, with a total value of $507,754.00. Following the acquisition, the chief financial officer now directly owns 29,876 shares of the company’s stock, valued at approximately $11,668,968.08. The trade was a 4.55 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director David A. Ricks bought 2,250 shares of Adobe stock in a transaction that occurred on Tuesday, January 28th. The shares were acquired at an average cost of $443.98 per share, with a total value of $998,955.00. Following the acquisition, the director now owns 4,984 shares of the company’s stock, valued at $2,212,796.32. The trade was a 82.30 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 5,075 shares of company stock valued at $2,191,826 in the last ninety days. Company insiders own 0.16% of the company’s stock.

Adobe Stock Down 5.0 %

Shares of ADBE stock opened at $349.07 on Friday. The stock’s fifty day moving average price is $425.66 and its 200 day moving average price is $463.96. Adobe Inc. has a 1-year low of $348.80 and a 1-year high of $587.75. The company has a market cap of $148.77 billion, a price-to-earnings ratio of 28.15, a price-to-earnings-growth ratio of 2.15 and a beta of 1.49. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07.

Adobe (NASDAQ:ADBE) last released its earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share for the quarter, topping 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 net margin of 25.85% and a return on equity of 45.87%. During the same quarter in the previous year, the firm earned $4.48 EPS. On average, research analysts expect that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on ADBE shares. Citigroup lowered their target price on shares of Adobe from $551.00 to $490.00 and set a “neutral” rating for the company in a report on Monday, March 10th. Jefferies Financial Group lowered their price target on Adobe from $650.00 to $590.00 and set a “buy” rating for the company in a research report on Monday, March 31st. Bank of America cut their price objective on shares of Adobe from $605.00 to $528.00 and set a “buy” rating on the stock in a research report on Thursday, March 13th. Wells Fargo & Company dropped their target price on shares of Adobe from $640.00 to $600.00 and set an “overweight” rating on the stock in a research note on Friday, March 7th. Finally, Barclays decreased their price objective on shares of Adobe from $675.00 to $645.00 and set an “overweight” rating for the company in a report on Thursday, December 12th. Eleven research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $531.54.

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.