Gabelli Funds LLC Acquires 95 Shares of Adobe Inc. (NASDAQ:ADBE)

Gabelli Funds LLC increased its holdings in Adobe Inc. (NASDAQ:ADBE) by 0.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,500 shares of the software company’s stock after acquiring an additional 95 shares during the quarter. Gabelli Funds LLC’s holdings in Adobe were worth $9,561,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of ADBE. Decker Retirement Planning Inc. purchased a new position in shares of Adobe during the fourth quarter valued at approximately $31,000. Summit Securities Group LLC purchased a new stake in shares of Adobe in the fourth quarter worth $31,000. Caitlin John LLC raised 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 purchasing an additional 48 shares during the last quarter. Avion Wealth boosted its stake in Adobe by 112.2% in the 4th quarter. Avion Wealth now owns 87 shares of the software company’s stock worth $38,000 after purchasing an additional 46 shares in the last quarter. Finally, Mascoma Wealth Management LLC increased its stake in 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 purchasing an additional 50 shares in the last quarter. 81.79% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Adobe

In other news, CFO Daniel Durn acquired 1,300 shares of Adobe stock in a transaction on Thursday, March 20th. The shares were acquired at an average price of $390.58 per share, with a total value of $507,754.00. Following the purchase, the chief financial officer now directly owns 29,876 shares in the company, valued at $11,668,968.08. The trade was a 4.55 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Jillian Forusz sold 334 shares of the firm’s stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $435.83, for a total transaction of $145,567.22. Following the completion of the transaction, the chief accounting officer now directly owns 2,685 shares of the company’s stock, valued at approximately $1,170,203.55. This trade represents a 11.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders 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 corporate insiders.

Adobe Stock Down 1.8 %

Shares of ADBE stock opened at $344.19 on Thursday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. Adobe Inc. has a one year low of $332.01 and a one year high of $587.75. The company’s fifty day moving average price is $407.79 and its 200-day moving average price is $452.66. The company has a market capitalization of $146.69 billion, a price-to-earnings ratio of 27.76, a PEG ratio of 2.15 and a beta of 1.49.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Wednesday, March 12th. The software company reported $5.08 EPS for the quarter, beating 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 business had revenue of $5.71 billion for the quarter, compared to the consensus estimate of $5.66 billion. During the same period in the previous year, the business earned $4.48 earnings per share. Sell-side analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on ADBE shares. Robert W. Baird cut their price target on shares of Adobe from $490.00 to $410.00 and set a “neutral” rating on the stock in a report on Wednesday, March 19th. Citigroup reduced their target price on Adobe from $551.00 to $490.00 and set a “neutral” rating for the company in a report on Monday, March 10th. JPMorgan Chase & Co. lowered their price target on Adobe from $580.00 to $540.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. BNP Paribas upgraded Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 price objective for the company in a report on Wednesday, January 15th. Finally, UBS Group lowered their target price on shares of Adobe from $410.00 to $380.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Eleven analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $513.27.

About Adobe

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.