Motley Fool Asset Management LLC Has $8.27 Million Position in Adobe Inc. (NASDAQ:ADBE)

Motley Fool Asset Management LLC increased its position in Adobe Inc. (NASDAQ:ADBE) by 4.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,858 shares of the software company’s stock after buying an additional 555 shares during the period. Motley Fool Asset Management LLC’s holdings in Adobe were worth $8,268,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Iron Horse Wealth Management LLC acquired a new stake in shares of Adobe in the 3rd quarter valued at about $25,000. HBC Financial Services PLLC bought a new position in Adobe in the 3rd quarter valued at about $25,000. Global Wealth Strategies & Associates lifted its position in Adobe by 57.6% in the 3rd 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 in the last quarter. Wetzel Investment Advisors Inc. bought a new position in Adobe in the 4th quarter valued at about $35,000. Finally, BluePath Capital Management LLC bought a new position in Adobe in the 3rd quarter valued at about $39,000. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Adobe news, CAO Mark S. Garfield sold 96 shares of the company’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $470.00, for a total value of $45,120.00. Following the sale, the chief accounting officer now owns 4,128 shares in the company, valued at $1,940,160. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CAO Mark S. Garfield sold 96 shares of the stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $470.00, for a total transaction of $45,120.00. Following the sale, the chief accounting officer now owns 4,128 shares in the company, valued at $1,940,160. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Anil Chakravarthy sold 100 shares of the stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $471.00, for a total transaction of $47,100.00. Following the sale, the insider now owns 33,609 shares in the company, valued at approximately $15,829,839. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 293 shares of company stock worth $137,656. 0.15% of the stock is currently owned by company insiders.

Adobe Trading Down 0.8 %

Shares of NASDAQ ADBE traded down $3.68 during midday trading on Thursday, hitting $473.44. 2,245,608 shares of the company traded hands, compared to its average volume of 3,510,927. 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 stock has a 50-day moving average price of $516.72 and a 200 day moving average price of $564.69. The firm has a market cap of $212.10 billion, a P/E ratio of 45.26, a P/E/G ratio of 2.56 and a beta of 1.28.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Thursday, March 14th. The software company reported $4.48 earnings per share for the quarter, topping analysts’ consensus estimates of $4.38 by $0.10. The business had revenue of $5.18 billion for the quarter, compared to analysts’ expectations of $5.14 billion. Adobe had a net margin of 24.08% and a return on equity of 39.12%. The business’s revenue was up 11.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.97 earnings per share. As a group, analysts expect that Adobe Inc. will post 14.55 earnings per share for the current year.

Adobe announced that its board has approved a share buyback plan on Thursday, March 14th that permits the company to buyback $25.00 billion in outstanding shares. This buyback authorization permits the software company to reacquire up to 10.8% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

ADBE has been the topic of several recent research reports. BMO Capital Markets reaffirmed an “outperform” rating and issued a $610.00 price target on shares of Adobe in a research report on Wednesday, March 27th. DA Davidson reaffirmed a “buy” rating and issued a $685.00 price target on shares of Adobe in a research report on Thursday, March 28th. UBS Group dropped their price target on shares of Adobe from $600.00 to $540.00 and set a “neutral” rating on the stock in a research report on Friday, March 15th. JPMorgan Chase & Co. dropped their target price on shares of Adobe from $600.00 to $570.00 and set a “neutral” rating on the stock in a research report on Friday, March 15th. Finally, Mizuho reissued a “buy” rating and set a $680.00 target price on shares of Adobe in a research report on Wednesday, March 27th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat, Adobe has an average rating of “Moderate Buy” and an average target price 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.