GFS Advisors LLC Invests $5.06 Million in Adobe Inc. (NASDAQ:ADBE)

GFS Advisors LLC acquired a new stake in shares of Adobe Inc. (NASDAQ:ADBE) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 11,380 shares of the software company’s stock, valued at approximately $5,060,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Hamilton Point Investment Advisors LLC increased its stake in shares of Adobe by 1.0% in the fourth quarter. Hamilton Point Investment Advisors LLC now owns 20,075 shares of the software company’s stock valued at $8,927,000 after buying an additional 199 shares during the period. Country Trust Bank raised its stake in shares of Adobe by 14.4% during the fourth quarter. Country Trust Bank now owns 86,023 shares of the software company’s stock valued at $38,253,000 after acquiring an additional 10,829 shares during the last quarter. CMG Global Holdings LLC lifted its holdings in shares of Adobe by 3.5% during the fourth quarter. CMG Global Holdings LLC now owns 1,351 shares of the software company’s stock worth $591,000 after purchasing an additional 46 shares during the period. Hunter Associates Investment Management LLC increased its holdings in Adobe by 5.2% in the fourth quarter. Hunter Associates Investment Management LLC now owns 937 shares of the software company’s stock valued at $415,000 after purchasing an additional 46 shares during the period. Finally, Boomfish Wealth Group LLC raised its position in Adobe by 5.1% during the 4th quarter. Boomfish Wealth Group LLC now owns 4,632 shares of the software company’s stock worth $2,060,000 after purchasing an additional 223 shares during the last quarter. Institutional investors own 81.79% of the company’s stock.

Insider Activity

In related news, Director Amy Banse sold 606 shares of the stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $550.00, for a total transaction of $333,300.00. Following the completion of the sale, the director now directly owns 32,929 shares of the company’s stock, valued at approximately $18,110,950. This trade represents a 1.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Scott Belsky sold 922 shares of the business’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $437.28, for a total value of $403,172.16. Following the completion of the transaction, the executive vice president now directly owns 22,153 shares in the company, valued at approximately $9,687,063.84. This represents a 4.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,681 shares of company stock worth $2,525,126 over the last quarter. Insiders own 0.15% of the company’s stock.

Adobe Price Performance

ADBE stock opened at $437.45 on Friday. The company has a market capitalization of $190.42 billion, a P/E ratio of 35.28, a price-to-earnings-growth ratio of 2.14 and a beta of 1.31. Adobe Inc. has a 52-week low of $403.75 and a 52-week high of $638.25. The business has a 50-day simple moving average of $463.46 and a two-hundred day simple moving average of $504.74. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07.

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

Analyst Ratings Changes

ADBE has been the subject of several recent research reports. StockNews.com raised Adobe from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. TD Cowen lowered shares of Adobe from a “buy” rating to a “hold” rating and lowered their price target for the stock from $625.00 to $550.00 in a report on Thursday, December 12th. BMO Capital Markets decreased their price objective on shares of Adobe from $600.00 to $570.00 and set an “outperform” rating for the company in a research report on Thursday, December 12th. Jefferies Financial Group dropped their target price on shares of Adobe from $700.00 to $650.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Finally, BNP Paribas raised shares of Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 price target on the stock in a research report on Wednesday, January 15th. One equities 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 company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $573.00.

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.