Adobe Inc. (NASDAQ:ADBE) Shares Purchased by Calamos Advisors LLC

Calamos Advisors LLC boosted its position in Adobe Inc. (NASDAQ:ADBE) by 4.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 133,296 shares of the software company’s stock after purchasing an additional 5,967 shares during the quarter. Calamos Advisors LLC’s holdings in Adobe were worth $79,524,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in ADBE. One Charles Private Wealth Services LLC grew its stake in Adobe by 2.2% during the 3rd 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 in the last quarter. Invst LLC increased its position in Adobe by 1.9% in the 3rd quarter. Invst LLC now owns 915 shares of the software company’s stock worth $467,000 after buying an additional 17 shares during the period. Raleigh Capital Management Inc. increased its position in 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 period. Lantz Financial LLC increased its position in Adobe by 2.5% in the 4th quarter. Lantz Financial LLC now owns 689 shares of the software company’s stock worth $411,000 after buying an additional 17 shares during the period. Finally, B & T Capital Management DBA Alpha Capital Management increased its position in shares of Adobe by 4.3% during the fourth quarter. B & T Capital Management DBA Alpha Capital Management now owns 417 shares of the software company’s stock valued at $249,000 after purchasing an additional 17 shares during the period. Institutional investors and hedge funds own 81.79% of the company’s stock.

Adobe Trading Down 0.3 %

Shares of NASDAQ:ADBE traded down $1.27 during midday trading on Thursday, reaching $473.18. The company’s stock had a trading volume of 2,386,906 shares, compared to its average volume of 3,575,926. The firm has a market capitalization of $211.98 billion, a price-to-earnings ratio of 45.24, a PEG ratio of 2.58 and a beta of 1.28. 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 firm has a 50 day moving average price of $533.19 and a two-hundred day moving average price of $566.97. Adobe Inc. has a fifty-two week low of $331.89 and a fifty-two week high of $638.25.

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

Adobe announced that its Board of Directors has approved a share repurchase program on Thursday, March 14th that authorizes the company to buyback $25.00 billion in shares. This buyback authorization authorizes the software company to purchase up to 10.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

ADBE has been the topic of a number of analyst reports. TheStreet cut Adobe from a “b-” rating to a “c+” rating in a research report on Tuesday, March 19th. Barclays cut their price target on Adobe from $700.00 to $630.00 and set an “overweight” rating on the stock in a research note on Friday, March 15th. Stifel Nicolaus cut their target price on Adobe from $650.00 to $625.00 and set a “buy” rating on the stock in a research note on Friday, March 15th. Piper Sandler reissued an “overweight” rating and issued a $700.00 target price on shares of Adobe in a research note on Wednesday, March 27th. Finally, BNP Paribas lowered Adobe from a “neutral” rating to an “underperform” rating and set a $499.00 target price on the stock. in a research note on Thursday, January 18th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $620.72.

Insider Activity

In related news, CAO Mark S. Garfield sold 788 shares of the company’s stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $615.42, for a total transaction of $484,950.96. Following the transaction, the chief accounting officer now directly owns 4,055 shares of the company’s stock, valued at approximately $2,495,528.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CAO Mark S. Garfield sold 788 shares of the company’s stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $615.42, for a total transaction of $484,950.96. Following the transaction, the chief accounting officer now directly owns 4,055 shares of the company’s stock, valued at approximately $2,495,528.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Scott Belsky sold 2,191 shares of the company’s stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $601.71, for a total value of $1,318,346.61. Following the transaction, the executive vice president now directly owns 23,508 shares in the company, valued at $14,144,998.68. The disclosure for this sale can be found here. Insiders have sold 3,075 shares of company stock valued at $1,848,418 in the last ninety days. 0.15% of the stock is owned by company insiders.

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.