D Orazio & Associates Inc. Purchases 97 Shares of Adobe Inc. (NASDAQ:ADBE)

D Orazio & Associates Inc. lifted its holdings in shares of Adobe Inc. (NASDAQ:ADBEFree Report) by 7.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,338 shares of the software company’s stock after purchasing an additional 97 shares during the quarter. D Orazio & Associates Inc.’s holdings in Adobe were worth $798,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. HBC Financial Services PLLC purchased a new stake in Adobe in the third quarter worth about $25,000. Wetzel Investment Advisors Inc. purchased a new stake in Adobe in the fourth quarter worth about $35,000. Hanseatic Management Services Inc. bought a new position in shares of Adobe in the third quarter worth approximately $45,000. First Command Advisory Services Inc. purchased a new stake in Adobe in the 3rd quarter worth $52,000. Finally, Advisors Preferred LLC purchased a new position in Adobe in the 3rd quarter worth approximately $60,000. Institutional investors own 81.79% of the company’s stock.

Insider Transactions at Adobe

In other news, CAO Mark S. Garfield sold 97 shares of the business’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $468.41, for a total transaction of $45,435.77. Following the completion of the sale, the chief accounting officer now owns 4,128 shares of the company’s stock, valued at $1,933,596.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Adobe news, CAO Mark S. Garfield sold 97 shares of the firm’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $468.41, for a total value of $45,435.77. Following the transaction, the chief accounting officer now owns 4,128 shares in the company, valued at approximately $1,933,596.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Mark S. Garfield sold 96 shares of the company’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $470.00, for a total transaction of $45,120.00. Following the sale, the chief accounting officer now directly owns 4,128 shares of the company’s stock, valued at approximately $1,940,160. The disclosure for this sale can be found here. Insiders sold a total of 3,006 shares of company stock valued at $1,424,432 in the last three months. 0.15% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

ADBE has been the topic of several research reports. BMO Capital Markets restated an “outperform” rating and issued a $610.00 price target on shares of Adobe in a research report on Wednesday, March 27th. Oppenheimer restated an “outperform” rating and set a $660.00 target price on shares of Adobe in a research report on Wednesday, March 27th. JPMorgan Chase & Co. reduced their price target on Adobe from $600.00 to $570.00 and set a “neutral” rating on the stock in a report on Friday, March 15th. JMP Securities restated a “market perform” rating on shares of Adobe in a report on Thursday, March 28th. Finally, HSBC decreased their target price on Adobe from $557.00 to $511.00 and set a “hold” rating for the company in a research report on Friday, March 15th. Two analysts have rated the stock with a sell rating, six have given a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat, Adobe currently has an average rating of “Moderate Buy” and an average price target of $620.72.

View Our Latest Stock Analysis on Adobe

Adobe Stock Performance

NASDAQ:ADBE traded up $9.40 during mid-day trading on Wednesday, hitting $485.35. The company’s stock had a trading volume of 3,490,876 shares, compared to its average volume of 3,398,131. Adobe Inc. has a 1 year low of $341.17 and a 1 year high of $638.25. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.05 and a quick ratio of 1.05. The stock has a market cap of $217.44 billion, a price-to-earnings ratio of 46.40, a PEG ratio of 2.62 and a beta of 1.28. The business’s fifty day moving average is $498.12 and its two-hundred day moving average is $559.51.

Adobe (NASDAQ:ADBEGet Free Report) last released its quarterly earnings data on Thursday, March 14th. The software company reported $4.48 EPS for the quarter, topping the consensus estimate of $4.38 by $0.10. The business had revenue of $5.18 billion for the quarter, compared to analyst estimates of $5.14 billion. Adobe had a return on equity of 39.12% and a net margin of 24.08%. The business’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.97 EPS. Analysts anticipate that Adobe Inc. will post 14.55 EPS for the current fiscal year.

Adobe announced that its Board of Directors has initiated a share buyback plan on Thursday, March 14th that permits the company to repurchase $25.00 billion in shares. This repurchase authorization permits the software company to buy up to 10.8% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Adobe Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Adobe (NASDAQ:ADBE)

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