Adobe Inc. (NASDAQ:ADBE) Shares Bought by Woodstock Corp

Woodstock Corp lifted its position in shares of Adobe Inc. (NASDAQ:ADBE) by 3.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 967 shares of the software company’s stock after buying an additional 36 shares during the period. Woodstock Corp’s holdings in Adobe were worth $430,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Legacy Investment Solutions LLC acquired a new position in shares of Adobe in the 3rd quarter valued at about $26,000. Piscataqua Savings Bank grew its stake in Adobe by 226.7% during the third quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock worth $25,000 after buying an additional 34 shares during the period. MidAtlantic Capital Management Inc. purchased a new position in shares of Adobe in the 3rd quarter valued at $30,000. True Wealth Design LLC raised its stake in shares of Adobe by 141.7% in the 3rd quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock valued at $30,000 after acquiring an additional 34 shares during the period. Finally, Briaud Financial Planning Inc purchased a new stake in Adobe during the 3rd quarter worth $36,000. 81.79% of the stock is owned by hedge funds and other institutional investors.

Adobe Price Performance

Shares of ADBE opened at $426.93 on Friday. Adobe Inc. has a 12 month low of $403.75 and a 12 month high of $638.25. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.11. The stock has a fifty day moving average price of $479.32 and a 200 day moving average price of $514.33. The company has a market cap of $187.93 billion, a P/E ratio of 34.43, a PEG ratio of 1.97 and a beta of 1.31.

Adobe (NASDAQ:ADBE) last released its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, topping the consensus estimate of $4.67 by $0.14. The business had revenue of $5.61 billion during the quarter, compared to analyst estimates of $5.54 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The company’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.52 earnings per share. On average, research analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have commented on the company. UBS Group cut their price objective on Adobe from $525.00 to $475.00 and set a “neutral” rating on the stock in a research report on Friday, January 3rd. Citigroup dropped their target price on Adobe from $616.00 to $590.00 and set a “neutral” rating on the stock in a report on Monday, December 9th. Piper Sandler decreased their price target on Adobe from $635.00 to $600.00 and set an “overweight” rating for the company in a report on Thursday, December 12th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $475.00 price objective (down previously from $600.00) on shares of Adobe in a research report on Wednesday, January 8th. Finally, Sanford C. Bernstein reduced their target price on shares of Adobe from $644.00 to $587.00 and set an “outperform” rating on the stock in a research report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Adobe has a consensus rating of “Moderate Buy” and an average price target of $573.00.

Insider Buying and Selling at Adobe

In related news, EVP Scott Belsky sold 481 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $483.42, for a total transaction of $232,525.02. Following the sale, the executive vice president now owns 18,128 shares of the company’s stock, valued at $8,763,437.76. The trade was a 2.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Amy Banse sold 606 shares of the stock in a transaction on Friday, December 6th. The shares were sold at an average price of $550.00, for a total value of $333,300.00. Following the transaction, the director now directly owns 32,929 shares of the company’s stock, valued at approximately $18,110,950. The trade was a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,763 shares of company stock worth $893,665. 0.15% of the stock is owned by company insiders.

Adobe 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.