Adobe Inc. (NASDAQ:ADBE) Shares Sold by WD Rutherford LLC

WD Rutherford LLC decreased its stake in Adobe Inc. (NASDAQ:ADBE) by 3.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,056 shares of the software company’s stock after selling 300 shares during the period. Adobe makes up 2.9% of WD Rutherford LLC’s investment portfolio, making the stock its 6th largest holding. WD Rutherford LLC’s holdings in Adobe were worth $4,863,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bryn Mawr Capital Management LLC raised its position in Adobe by 83.9% during the fourth quarter. Bryn Mawr Capital Management LLC now owns 7,611 shares of the software company’s stock worth $4,541,000 after acquiring an additional 3,472 shares during the last quarter. Overbrook Management Corp raised its position in Adobe by 50.0% during the fourth quarter. Overbrook Management Corp now owns 600 shares of the software company’s stock worth $358,000 after acquiring an additional 200 shares during the last quarter. Motley Fool Asset Management LLC raised its position in Adobe by 4.2% during the fourth quarter. Motley Fool Asset Management LLC now owns 13,858 shares of the software company’s stock worth $8,268,000 after acquiring an additional 555 shares during the last quarter. Evolution Advisers Inc. raised its position in Adobe by 14.3% during the fourth quarter. Evolution Advisers Inc. now owns 136 shares of the software company’s stock worth $79,000 after acquiring an additional 17 shares during the last quarter. Finally, Wisconsin Capital Management LLC raised its position in Adobe by 1.5% during the fourth quarter. Wisconsin Capital Management LLC now owns 10,309 shares of the software company’s stock worth $6,150,000 after acquiring an additional 150 shares during the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on ADBE shares. Royal Bank of Canada restated an “outperform” rating and set a $630.00 target price on shares of Adobe in a research report on Wednesday, March 27th. DA Davidson reiterated a “buy” rating and set a $685.00 price target on shares of Adobe in a report on Thursday, March 28th. Wells Fargo & Company lowered their price target on shares of Adobe from $690.00 to $675.00 and set an “overweight” rating for the company in a report on Friday, March 15th. JPMorgan Chase & Co. lowered their price target on shares of Adobe from $600.00 to $570.00 and set a “neutral” rating for the company in a report on Friday, March 15th. Finally, UBS Group lowered their price target on shares of Adobe from $600.00 to $540.00 and set a “neutral” rating for the company in a report on Friday, March 15th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat.com, Adobe currently has an average rating of “Moderate Buy” and an average target price of $620.72.

Adobe Trading Up 0.9 %

NASDAQ ADBE opened at $477.56 on Friday. The company’s fifty day simple moving average is $515.34 and its 200-day simple moving average is $564.33. Adobe Inc. has a 52 week low of $331.89 and a 52 week high of $638.25. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.14. The stock has a market cap of $213.95 billion, a P/E ratio of 45.66, a PEG ratio of 2.56 and a beta of 1.28.

Adobe (NASDAQ:ADBE) last posted its earnings results on Thursday, March 14th. The software company reported $4.48 EPS for the quarter, topping analysts’ consensus estimates of $4.38 by $0.10. Adobe had a net margin of 24.08% and a return on equity of 39.12%. The business had revenue of $5.18 billion for the quarter, compared to analysts’ expectations of $5.14 billion. During the same period in the previous year, the company posted $2.97 earnings per share. The business’s revenue for the quarter was up 11.3% compared to the same quarter last year. Equities research analysts predict that Adobe Inc. will post 14.55 EPS for the current fiscal year.

Adobe announced that its board has initiated a stock repurchase plan on Thursday, March 14th that authorizes the company to repurchase $25.00 billion in outstanding shares. This repurchase authorization authorizes the software company to purchase up to 10.8% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Adobe

In related news, insider Anil Chakravarthy sold 100 shares of the company’s stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $471.00, for a total value of $47,100.00. Following the sale, the insider now directly owns 33,609 shares of the company’s stock, valued at $15,829,839. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CAO Mark S. Garfield sold 97 shares of the company’s stock in a transaction 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 sale, the chief accounting officer now directly 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 is available at this hyperlink. Also, insider Anil Chakravarthy sold 100 shares of the company’s stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $471.00, for a total transaction of $47,100.00. Following the completion of the sale, the insider now directly owns 33,609 shares in the company, valued at $15,829,839. The disclosure for this sale can be found here. Over the last three months, insiders have sold 293 shares of company stock valued at $137,656. Corporate insiders own 0.15% of the company’s stock.

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.