Adobe Inc. (NASDAQ:ADBE) Shares Acquired by Cozad Asset Management Inc.

Cozad Asset Management Inc. boosted its position in shares of Adobe Inc. (NASDAQ:ADBE) by 10.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 1,133 shares of the software company’s stock after acquiring an additional 110 shares during the quarter. Cozad Asset Management Inc.’s holdings in Adobe were worth $676,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Adobe by 5.7% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 116,382 shares of the software company’s stock worth $59,343,000 after buying an additional 6,270 shares during the last quarter. Capital Advisors Inc. OK grew its stake in shares of Adobe by 57.1% during the 3rd quarter. Capital Advisors Inc. OK now owns 754 shares of the software company’s stock worth $385,000 after purchasing an additional 274 shares during the period. Stratos Wealth Partners LTD. increased its holdings in shares of Adobe by 9.7% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 15,220 shares of the software company’s stock valued at $7,761,000 after purchasing an additional 1,350 shares in the last quarter. Hanson & Doremus Investment Management lifted its stake in shares of Adobe by 18.2% in the 3rd quarter. Hanson & Doremus Investment Management now owns 130 shares of the software company’s stock valued at $66,000 after purchasing an additional 20 shares during the period. Finally, Avaii Wealth Management LLC boosted its holdings in Adobe by 2.9% during the third quarter. Avaii Wealth Management LLC now owns 750 shares of the software company’s stock worth $382,000 after buying an additional 21 shares in the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Insider Activity

In other news, CAO Mark S. Garfield sold 96 shares of Adobe stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $470.00, for a total transaction of $45,120.00. Following the sale, the chief accounting officer now owns 4,128 shares of the company’s stock, valued at approximately $1,940,160. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CAO Mark S. Garfield sold 96 shares of the stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $470.00, for a total transaction of $45,120.00. Following the completion of the transaction, the chief accounting officer now directly owns 4,128 shares in the company, valued at approximately $1,940,160. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Mark S. Garfield sold 97 shares of the firm’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $468.41, for a total value of $45,435.77. Following the sale, the chief accounting officer now directly owns 4,128 shares of the company’s stock, valued at $1,933,596.48. The disclosure for this sale can be found here. Insiders sold a total of 293 shares of company stock valued at $137,656 in the last 90 days. Company insiders own 0.15% of the company’s stock.

Adobe Stock Performance

Shares of Adobe stock opened at $469.39 on Thursday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.05 and a current ratio of 1.05. The business’s 50 day moving average price is $510.90 and its 200 day moving average price is $562.78. The company has a market cap of $210.29 billion, a price-to-earnings ratio of 44.87, a PEG ratio of 2.56 and a beta of 1.28. Adobe Inc. has a one year low of $331.89 and a one year high of $638.25.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results on Thursday, March 14th. The software company reported $4.48 EPS for the quarter, topping the consensus estimate of $4.38 by $0.10. Adobe had a return on equity of 39.12% and a net margin of 24.08%. The business had revenue of $5.18 billion for the quarter, compared to analyst estimates of $5.14 billion. During the same quarter in the previous year, the firm earned $2.97 EPS. The company’s quarterly revenue was up 11.3% compared to the same quarter last year. On average, research analysts predict that Adobe Inc. will post 14.55 EPS for the current year.

Adobe declared that its board has authorized a share buyback program on Thursday, March 14th that authorizes the company to buyback $25.00 billion in shares. This buyback authorization authorizes the software company to buy up to 10.8% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on ADBE shares. Piper Sandler reaffirmed an “overweight” rating and issued a $700.00 price objective on shares of Adobe in a report on Wednesday, March 27th. Evercore ISI restated an “outperform” rating and issued a $650.00 price target on shares of Adobe in a research note on Wednesday, March 27th. Oppenheimer reaffirmed an “outperform” rating and issued a $660.00 price target on shares of Adobe in a report on Wednesday, March 27th. Robert W. Baird dropped their price objective on Adobe from $590.00 to $525.00 and set a “neutral” rating on the stock in a report on Friday, March 15th. Finally, TheStreet cut Adobe from a “b-” rating to a “c+” rating in a research report on Tuesday, March 19th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $620.72.

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.