Adobe Inc. (NASDAQ:ADBE) Position Raised by Sather Financial Group Inc

Sather Financial Group Inc raised its position in shares of Adobe Inc. (NASDAQ:ADBE) by 2.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 107,830 shares of the software company’s stock after purchasing an additional 2,532 shares during the quarter. Adobe comprises 3.0% of Sather Financial Group Inc’s portfolio, making the stock its 15th largest holding. Sather Financial Group Inc’s holdings in Adobe were worth $47,950,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Sound Income Strategies LLC lifted its stake in Adobe by 27.1% during the third quarter. Sound Income Strategies LLC now owns 253 shares of the software company’s stock valued at $131,000 after purchasing an additional 54 shares during the last quarter. Redhawk Wealth Advisors Inc. increased its holdings in shares of Adobe by 5.1% in the third quarter. Redhawk Wealth Advisors Inc. now owns 511 shares of the software company’s stock valued at $265,000 after buying an additional 25 shares in the last quarter. Stablepoint Partners LLC lifted its position in shares of Adobe by 4.7% during the 3rd quarter. Stablepoint Partners LLC now owns 1,515 shares of the software company’s stock valued at $784,000 after acquiring an additional 68 shares during the last quarter. Fiduciary Alliance LLC boosted its stake in shares of Adobe by 10.8% during the 3rd quarter. Fiduciary Alliance LLC now owns 583 shares of the software company’s stock worth $302,000 after acquiring an additional 57 shares in the last quarter. Finally, CX Institutional grew its holdings in shares of Adobe by 4.2% in the 3rd quarter. CX Institutional now owns 2,298 shares of the software company’s stock worth $1,190,000 after acquiring an additional 93 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Adobe

In related news, CAO Jillian Forusz sold 334 shares of the business’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 transaction, the chief accounting officer now owns 2,685 shares of the company’s stock, valued at approximately $1,170,203.55. The trade was a 11.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 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 disclosure for this sale can be found here. In the last three months, insiders have sold 5,681 shares of company stock worth $2,525,126. 0.15% of the stock is owned by insiders.

Adobe Stock Performance

ADBE opened at $458.82 on Wednesday. The stock has a 50-day moving average of $452.62 and a 200-day moving average of $498.52. 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 Inc. has a 52-week low of $403.75 and a 52-week high of $626.34. The company has a market cap of $199.72 billion, a PE ratio of 37.00, a price-to-earnings-growth ratio of 2.11 and a beta of 1.31.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, beating 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 company had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $5.54 billion. During the same quarter last year, the company posted $3.52 earnings per share. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, equities research analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently commented on ADBE. Piper Sandler reduced their target price on Adobe from $635.00 to $600.00 and set an “overweight” rating for the company in a report on Thursday, December 12th. Wells Fargo & Company dropped their target price on shares of Adobe from $700.00 to $640.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Barclays decreased their price objective on shares of Adobe from $675.00 to $645.00 and set an “overweight” rating for the company in a research note on Thursday, December 12th. Royal Bank of Canada reduced their target price on Adobe from $610.00 to $590.00 and set an “outperform” rating for the company in a report on Thursday, December 12th. Finally, BMO Capital Markets lowered their price target on Adobe from $600.00 to $570.00 and set an “outperform” rating on the stock in a report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $573.00.

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.