Y.D. More Investments Ltd Raises Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

Y.D. More Investments Ltd increased its position in Adobe Inc. (NASDAQ:ADBE) by 10.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,439 shares of the software company’s stock after purchasing an additional 507 shares during the period. Y.D. More Investments Ltd’s holdings in Adobe were worth $3,245,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. HBC Financial Services PLLC purchased a new stake in shares of Adobe in the third quarter worth $25,000. Wetzel Investment Advisors Inc. purchased a new stake in shares of Adobe in the fourth quarter worth $35,000. BluePath Capital Management LLC purchased a new stake in shares of Adobe in the third quarter worth $39,000. Hanseatic Management Services Inc. purchased a new stake in shares of Adobe in the third quarter worth $45,000. Finally, Hoey Investments Inc. grew its stake in shares of Adobe by 526.7% in the third quarter. Hoey Investments Inc. now owns 94 shares of the software company’s stock worth $48,000 after acquiring an additional 79 shares during the last quarter. 81.79% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Anil Chakravarthy sold 100 shares of the firm’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $471.00, for a total value of $47,100.00. Following the completion of the sale, the insider now directly owns 33,609 shares of the company’s stock, valued at approximately $15,829,839. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Anil Chakravarthy sold 100 shares of the firm’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $471.00, for a total value of $47,100.00. Following the completion of the sale, the insider now directly owns 33,609 shares of the company’s stock, valued at approximately $15,829,839. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Mark S. Garfield sold 97 shares of the firm’s stock in a transaction that occurred 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 sale, 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 ninety days. Insiders own 0.15% of the company’s stock.

Adobe Price Performance

NASDAQ ADBE traded up $6.56 during trading on Wednesday, hitting $469.39. 2,471,455 shares of the stock traded hands, compared to its average volume of 3,475,662. The company has a market capitalization of $210.29 billion, a P/E ratio of 44.25, a price-to-earnings-growth ratio of 2.56 and a beta of 1.28. The firm has a 50-day simple moving average of $512.29 and a 200-day simple moving average of $563.44. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.14. Adobe Inc. has a 12-month low of $331.89 and a 12-month 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, beating 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 quarter last year, the business posted $2.97 EPS. As a group, analysts predict that Adobe Inc. will post 14.55 EPS for the current year.

Adobe announced that its Board of Directors has initiated a share buyback program on Thursday, March 14th that allows the company to buyback $25.00 billion in shares. This buyback authorization allows the software company to repurchase 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 shares are undervalued.

Wall Street Analysts Forecast Growth

ADBE has been the topic of a number of recent research reports. BMO Capital Markets reissued an “outperform” rating and issued a $610.00 target price on shares of Adobe in a research note on Wednesday, March 27th. Robert W. Baird lowered their price target on Adobe from $590.00 to $525.00 and set a “neutral” rating on the stock in a report on Friday, March 15th. Piper Sandler Companies lowered their price target on Adobe from $705.00 to $700.00 and set an “overweight” rating on the stock in a report on Friday, March 15th. Evercore ISI reaffirmed an “outperform” rating and set a $650.00 price target on shares of Adobe in a report on Wednesday, March 27th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a report on Thursday, March 28th. Two equities 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 stock. According to data from MarketBeat, Adobe currently has an average rating of “Moderate Buy” and an average target price of $620.72.

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.