Vinva Investment Management Ltd Buys 2,224 Shares of Adobe Inc. (NASDAQ:ADBE)

Vinva Investment Management Ltd raised its holdings in Adobe Inc. (NASDAQ:ADBEFree Report) by 16.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 15,710 shares of the software company’s stock after acquiring an additional 2,224 shares during the quarter. Adobe makes up about 0.6% of Vinva Investment Management Ltd’s portfolio, making the stock its 28th largest holding. Vinva Investment Management Ltd’s holdings in Adobe were worth $9,356,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. One Charles Private Wealth Services LLC boosted its position in Adobe by 2.2% during the third quarter. One Charles Private Wealth Services LLC now owns 785 shares of the software company’s stock valued at $400,000 after acquiring an additional 17 shares during the last quarter. Invst LLC increased its position in shares of Adobe by 1.9% during the 3rd quarter. Invst LLC now owns 915 shares of the software company’s stock valued at $467,000 after purchasing an additional 17 shares during the last quarter. Raleigh Capital Management Inc. boosted its holdings in shares of Adobe by 3.1% in the 3rd quarter. Raleigh Capital Management Inc. now owns 559 shares of the software company’s stock worth $285,000 after buying an additional 17 shares during the last quarter. Lantz Financial LLC grew its position in Adobe by 2.5% during the fourth quarter. Lantz Financial LLC now owns 689 shares of the software company’s stock valued at $411,000 after buying an additional 17 shares during the period. Finally, B & T Capital Management DBA Alpha Capital Management raised its position in Adobe by 4.3% in the fourth quarter. B & T Capital Management DBA Alpha Capital Management now owns 417 shares of the software company’s stock worth $249,000 after acquiring an additional 17 shares during the period. Institutional investors and hedge funds own 81.79% of the company’s stock.

Insider Buying and Selling at Adobe

In other news, EVP Scott Belsky sold 2,713 shares of the stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $474.30, for a total value of $1,286,775.90. Following the completion of the sale, the executive vice president now owns 21,114 shares in the company, valued at $10,014,370.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Scott Belsky sold 2,713 shares of the company’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $474.30, for a total transaction of $1,286,775.90. Following the completion of the transaction, the executive vice president now directly owns 21,114 shares in the company, valued at approximately $10,014,370.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 value of $45,435.77. Following the transaction, the chief accounting officer now owns 4,128 shares in the company, valued at $1,933,596.48. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,006 shares of company stock worth $1,424,432. 0.15% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

ADBE has been the topic of a number of research reports. Piper Sandler Companies lowered their price target on shares of Adobe from $705.00 to $700.00 and set an “overweight” rating on the stock in a report on Friday, March 15th. Robert W. Baird cut their price target on Adobe from $590.00 to $525.00 and set a “neutral” rating for the company in a research note on Friday, March 15th. BMO Capital Markets lowered their price objective on Adobe from $610.00 to $525.00 and set an “outperform” rating on the stock in a research note on Thursday. Wells Fargo & Company cut their price objective on Adobe from $690.00 to $675.00 and set an “overweight” rating for the company in a report on Friday, March 15th. Finally, Oppenheimer dropped their price target on Adobe from $660.00 to $580.00 and set an “outperform” rating for the company in a research note on Thursday. 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 company’s stock. Based on data from MarketBeat, Adobe presently has an average rating of “Moderate Buy” and an average target price of $612.79.

Read Our Latest Report on ADBE

Adobe Price Performance

Shares of NASDAQ:ADBE traded up $7.13 on Friday, hitting $465.26. The company had a trading volume of 1,827,286 shares, compared to its average volume of 3,350,097. The business has a 50 day moving average of $477.49 and a 200 day moving average of $547.24. Adobe Inc. has a 52-week low of $423.58 and a 52-week high of $638.25. The company has a market cap of $208.44 billion, a PE ratio of 44.69, a PEG ratio of 2.47 and a beta of 1.27. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.14.

Adobe (NASDAQ:ADBEGet Free Report) last issued its quarterly earnings data on Thursday, March 14th. The software company reported $4.48 EPS for the quarter, topping analysts’ consensus estimates of $4.38 by $0.10. The company had revenue of $5.18 billion for 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 quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.97 earnings per share. As a group, equities analysts anticipate that Adobe Inc. will post 14.55 earnings per share for the current fiscal year.

Adobe declared that its Board of Directors has authorized a share buyback program on Thursday, March 14th that authorizes the company to repurchase $25.00 billion in shares. This repurchase authorization authorizes the software company to repurchase up to 10.8% of its shares through open market purchases. Shares repurchase programs are usually an indication 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.

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Institutional Ownership by Quarter for Adobe (NASDAQ:ADBE)

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