Adobe Inc. (NASDAQ:ADBE) Shares Purchased by Northcape Capital Pty Ltd

Northcape Capital Pty Ltd increased its position in shares of Adobe Inc. (NASDAQ:ADBE – Get Rating) by 48.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,736 shares of the software company’s stock after purchasing an additional 1,865 shares during the quarter. Adobe accounts for 0.2% of Northcape Capital Pty Ltd’s investment portfolio, making the stock its 16th biggest holding. Northcape Capital Pty Ltd’s holdings in Adobe were worth $1,930,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in ADBE. Grayhawk Investment Strategies Inc. acquired a new position in Adobe in the second quarter valued at $25,000. Financial Enhancement Group LLC increased its stake in Adobe by 338.1% in the third quarter. Financial Enhancement Group LLC now owns 92 shares of the software company’s stock valued at $25,000 after purchasing an additional 71 shares during the last quarter. TD Capital Management LLC acquired a new position in Adobe in the third quarter valued at $28,000. Western Pacific Wealth Management LP increased its stake in Adobe by 3,550.0% in the third quarter. Western Pacific Wealth Management LP now owns 146 shares of the software company’s stock valued at $40,000 after purchasing an additional 142 shares during the last quarter. Finally, My Personal CFO LLC acquired a new position in Adobe in the fourth quarter valued at $45,000. 79.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ADBE. Morgan Stanley boosted their price target on Adobe from $382.00 to $385.00 and gave the company an “equal weight” rating in a research report on Thursday. William Blair assumed coverage on Adobe in a research report on Tuesday, January 17th. They issued an “outperform” rating for the company. Wells Fargo & Company upped their target price on Adobe from $350.00 to $360.00 and gave the stock an “equal weight” rating in a research report on Thursday. Mizuho upped their target price on Adobe from $370.00 to $375.00 in a research report on Thursday. Finally, Barclays upped their target price on Adobe from $340.00 to $385.00 in a research report on Thursday. Sixteen analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $415.70.

Insider Buying and Selling at Adobe

In other news, CAO Mark S. Garfield sold 132 shares of the firm’s stock in a transaction on Monday, December 19th. The stock was sold at an average price of $338.00, for a total transaction of $44,616.00. Following the completion of the sale, the chief accounting officer now directly owns 3,271 shares of the company’s stock, valued at approximately $1,105,598. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CAO Mark S. Garfield sold 209 shares of the firm’s stock in a transaction on Wednesday, January 25th. The stock was sold at an average price of $355.42, for a total transaction of $74,282.78. Following the completion of the sale, the chief accounting officer now directly owns 3,479 shares of the company’s stock, valued at approximately $1,236,506.18. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Mark S. Garfield sold 132 shares of the firm’s stock in a transaction on Monday, December 19th. The stock was sold at an average price of $338.00, for a total value of $44,616.00. Following the sale, the chief accounting officer now directly owns 3,271 shares of the company’s stock, valued at $1,105,598. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,265 shares of company stock valued at $9,067,344. 0.24% of the stock is owned by corporate insiders.

Adobe Stock Performance

ADBE stock traded up $4.85 on Friday, reaching $358.14. The company’s stock had a trading volume of 6,725,352 shares, compared to its average volume of 3,588,007. Adobe Inc. has a 52 week low of $274.73 and a 52 week high of $473.49. The company has a market capitalization of $164.24 billion, a P/E ratio of 35.28, a price-to-earnings-growth ratio of 2.21 and a beta of 1.27. The firm has a fifty day moving average of $353.24 and a two-hundred day moving average of $333.90. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.12 and a quick ratio of 1.11.

Adobe (NASDAQ:ADBE – Get Rating) last issued its quarterly earnings data on Wednesday, March 15th. The software company reported $3.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.68 by $0.12. The business had revenue of $4.66 billion during the quarter, compared to analyst estimates of $4.62 billion. Adobe had a return on equity of 36.53% and a net margin of 26.32%. The business’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same period in the prior year, the company posted $2.84 EPS. As a group, analysts predict that Adobe Inc. will post 12.26 EPS for the current fiscal year.

Adobe Company Profile

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Adobe, Inc engages in the provision of digital marketing and media solutions. It operates through the following segments: Digital Media, Digital Experience, and Publishing and Advertising. The Digital Media segment offers creative cloud services, which allow members to download and install the latest versions of products, such as Adobe Photoshop, Adobe Illustrator, Adobe Premiere Pro, Adobe Photoshop Lightroom and Adobe InDesign, as well as utilize other tools, such as Adobe Acrobat.