EntryPoint Capital LLC Buys Shares of 1,085 Adobe Inc. (NASDAQ:ADBE)

EntryPoint Capital LLC purchased a new position in shares of Adobe Inc. (NASDAQ:ADBE) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 1,085 shares of the software company’s stock, valued at approximately $482,000.

A number of other hedge funds also recently modified their holdings of ADBE. Angeles Investment Advisors LLC raised its stake in shares of Adobe by 1.0% in the fourth quarter. Angeles Investment Advisors LLC now owns 2,510 shares of the software company’s stock valued at $1,116,000 after buying an additional 24 shares during the period. Congress Wealth Management LLC DE raised its stake in Adobe by 4.0% in the 4th quarter. Congress Wealth Management LLC DE now owns 7,128 shares of the software company’s stock valued at $3,170,000 after acquiring an additional 272 shares during the period. Twin City Private Wealth LLC raised its stake in Adobe by 19.0% in the 4th quarter. Twin City Private Wealth LLC now owns 1,919 shares of the software company’s stock valued at $853,000 after acquiring an additional 307 shares during the period. Dillon & Associates Inc. lifted its holdings in Adobe by 9.4% during the fourth quarter. Dillon & Associates Inc. now owns 3,971 shares of the software company’s stock valued at $1,767,000 after purchasing an additional 342 shares during the last quarter. Finally, McCollum Christoferson Group LLC boosted its position in Adobe by 6.3% during the fourth quarter. McCollum Christoferson Group LLC now owns 6,749 shares of the software company’s stock worth $3,001,000 after purchasing an additional 402 shares during the period. Institutional investors own 81.79% of the company’s stock.

Insider Buying and Selling

In other Adobe news, EVP Scott Belsky sold 3,819 shares of the business’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $430.24, for a total value of $1,643,086.56. Following the completion of the transaction, the executive vice president now owns 18,334 shares of the company’s stock, valued at approximately $7,888,020.16. The trade was a 17.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Jillian Forusz sold 334 shares of the firm’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $435.83, for a total transaction of $145,567.22. Following the sale, the chief accounting officer now directly owns 2,685 shares in the company, valued at approximately $1,170,203.55. The trade was a 11.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,075 shares of company stock worth $2,191,826 in the last three months. Insiders own 0.16% of the company’s stock.

Adobe Trading Up 2.3 %

Shares of NASDAQ ADBE opened at $403.64 on Wednesday. Adobe Inc. has a 1 year low of $374.50 and a 1 year high of $587.75. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. The firm has a 50-day moving average of $433.70 and a 200 day moving average of $472.75. The stock has a market cap of $175.75 billion, a P/E ratio of 32.55, a price-to-earnings-growth ratio of 2.15 and a beta of 1.37.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results 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. The firm had revenue of $5.71 billion during the quarter, compared to analyst estimates of $5.66 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. During the same quarter in the previous year, the firm earned $4.48 EPS. As a group, sell-side analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Barclays dropped their price target on shares of Adobe from $675.00 to $645.00 and set an “overweight” rating on the stock in a research note on Thursday, December 12th. BNP Paribas upgraded Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 target price on the stock in a research report on Wednesday, January 15th. Evercore ISI reduced their price target on Adobe from $650.00 to $550.00 and set an “outperform” rating for the company in a research report on Thursday, March 13th. Robert W. Baird dropped their price objective on Adobe from $490.00 to $410.00 and set a “neutral” rating on the stock in a report on Wednesday, March 19th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $475.00 target price (down previously from $600.00) on shares of Adobe in a report on Wednesday, January 8th. Eleven investment 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. Based on data from MarketBeat, Adobe currently has an average rating of “Moderate Buy” and a consensus target price of $538.80.

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.