Ownership Capital B.V. Invests $157.32 Million in Adobe Inc. (NASDAQ:ADBE)

Ownership Capital B.V. purchased a new position in shares of Adobe Inc. (NASDAQ:ADBE) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 263,692 shares of the software company’s stock, valued at approximately $157,319,000. Adobe accounts for 3.5% of Ownership Capital B.V.’s portfolio, making the stock its 15th biggest position.

A number of other hedge funds also recently modified their holdings of ADBE. HBC Financial Services PLLC acquired a new stake in shares of Adobe during the third quarter worth about $25,000. Global Wealth Strategies & Associates grew its holdings in shares of Adobe by 57.6% during the third quarter. Global Wealth Strategies & Associates now owns 52 shares of the software company’s stock worth $27,000 after buying an additional 19 shares in the last quarter. Wetzel Investment Advisors Inc. bought a new position in shares of Adobe during the fourth quarter worth about $35,000. BluePath Capital Management LLC bought a new position in shares of Adobe during the third quarter worth about $39,000. Finally, Hanseatic Management Services Inc. bought a new position in shares of Adobe during the third quarter worth about $45,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Adobe Stock Performance

NASDAQ:ADBE traded up $4.12 during mid-day trading on Friday, hitting $477.56. 2,460,261 shares of the stock were exchanged, compared to its average volume of 2,815,745. The stock has a market capitalization of $213.95 billion, a price-to-earnings ratio of 45.66, a price-to-earnings-growth ratio of 2.56 and a beta of 1.28. The firm’s 50-day simple moving average is $515.34 and its 200 day simple moving average is $564.33. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.05 and a current ratio of 1.05. Adobe Inc. has a fifty-two week low of $331.89 and a fifty-two week high of $638.25.

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

Adobe declared that its board has approved a share 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 buy up to 10.8% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Adobe

In other Adobe news, CAO Mark S. Garfield sold 96 shares of Adobe stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $470.00, for a total value of $45,120.00. Following the completion of the transaction, the chief accounting officer now directly owns 4,128 shares of the company’s stock, valued at approximately $1,940,160. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Adobe news, CAO Mark S. Garfield sold 96 shares of Adobe stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $470.00, for a total value of $45,120.00. Following the completion of the transaction, the chief accounting officer now directly owns 4,128 shares of the company’s stock, valued at approximately $1,940,160. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Mark S. Garfield sold 97 shares of Adobe 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 transaction, the chief accounting officer now directly 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 293 shares of company stock valued at $137,656 in the last three months. Corporate insiders own 0.15% of the company’s stock.

Analyst Upgrades and Downgrades

ADBE has been the subject of a number of research reports. JMP Securities reiterated a “market perform” rating on shares of Adobe in a report on Thursday, March 28th. Oppenheimer reiterated an “outperform” rating and set a $660.00 price objective on shares of Adobe in a report on Wednesday, March 27th. Royal Bank of Canada reiterated an “outperform” rating and set a $630.00 price objective on shares of Adobe in a report on Wednesday, March 27th. Wells Fargo & Company decreased their price target on Adobe from $690.00 to $675.00 and set an “overweight” rating for the company in a research note on Friday, March 15th. Finally, Evercore ISI restated an “outperform” rating and issued a $650.00 price target on shares of Adobe in a research note on Wednesday, March 27th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $620.72.

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.