Adobe Inc. (NASDAQ:ADBE) Shares Acquired by Lafayette Investments Inc.

Lafayette Investments Inc. raised its position in shares of Adobe Inc. (NASDAQ:ADBE) by 32.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,960 shares of the software company’s stock after buying an additional 482 shares during the quarter. Lafayette Investments Inc.’s holdings in Adobe were worth $872,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the company. Decker Retirement Planning Inc. bought a new position in Adobe during the fourth quarter worth $31,000. Summit Securities Group LLC acquired a new stake in shares of Adobe during the fourth quarter worth $31,000. Caitlin John LLC lifted its position in shares of Adobe by 171.4% in the 4th quarter. Caitlin John LLC now owns 76 shares of the software company’s stock worth $34,000 after buying an additional 48 shares during the last quarter. Avion Wealth boosted its holdings in shares of Adobe by 112.2% in the 4th quarter. Avion Wealth now owns 87 shares of the software company’s stock valued at $38,000 after buying an additional 46 shares during the period. Finally, Mascoma Wealth Management LLC grew its position in shares of Adobe by 142.9% during the 4th quarter. Mascoma Wealth Management LLC now owns 85 shares of the software company’s stock valued at $38,000 after buying an additional 50 shares during the last quarter. Institutional investors own 81.79% of the company’s stock.

Insider Buying and Selling at Adobe

In other news, EVP Scott Belsky sold 922 shares of Adobe stock in a transaction on Friday, January 24th. The stock was sold at an average price of $437.28, for a total transaction of $403,172.16. Following the transaction, the executive vice president now owns 22,153 shares in the company, valued at approximately $9,687,063.84. The trade was a 4.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director David A. Ricks purchased 2,250 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The shares were acquired at an average cost of $443.98 per share, for a total transaction of $998,955.00. Following the completion of the transaction, the director now directly owns 4,984 shares of the company’s stock, valued at $2,212,796.32. This trade represents a 82.30 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 5,075 shares of company stock valued at $2,191,826 in the last three months. 0.16% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

ADBE has been the subject of several recent research reports. Redburn Atlantic began coverage on Adobe in a report on Wednesday, February 19th. They set a “neutral” rating for the company. BNP Paribas upgraded Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 price objective for the company in a research note on Wednesday, January 15th. Morgan Stanley cut their target price on Adobe from $660.00 to $600.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. StockNews.com lowered shares of Adobe from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 4th. Finally, Jefferies Financial Group dropped their price objective on shares of Adobe from $650.00 to $590.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Eleven research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Adobe has a consensus rating of “Moderate Buy” and an average price target of $518.46.

Adobe Price Performance

Shares of NASDAQ:ADBE opened at $350.91 on Tuesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07. The company has a market capitalization of $149.56 billion, a PE ratio of 28.30, a price-to-earnings-growth ratio of 2.15 and a beta of 1.49. The stock has a fifty day moving average of $411.27 and a 200-day moving average of $454.13. Adobe Inc. has a one year low of $332.01 and a one year high of $587.75.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Wednesday, March 12th. The software company reported $5.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.97 by $0.11. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The firm had revenue of $5.71 billion for the quarter, compared to the consensus estimate of $5.66 billion. During the same quarter in the previous year, the company earned $4.48 EPS. As a group, equities analysts anticipate that Adobe Inc. will post 16.65 EPS for the current fiscal year.

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.