6,290 Shares in Adobe Inc. (NASDAQ:ADBE) Purchased by Kavar Capital Partners Group LLC

Kavar Capital Partners Group LLC bought a new position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 6,290 shares of the software company's stock, valued at approximately $2,797,000.

Several other large investors have also recently modified their holdings of ADBE. Legacy Investment Solutions LLC purchased a new position in Adobe during the 3rd quarter valued at about $26,000. Piscataqua Savings Bank grew its stake in Adobe by 226.7% during the third quarter. Piscataqua Savings Bank now owns 49 shares of the software company's stock valued at $25,000 after acquiring an additional 34 shares in the last quarter. MidAtlantic Capital Management Inc. bought a new stake in Adobe during the 3rd quarter worth approximately $30,000. True Wealth Design LLC lifted its stake in Adobe by 141.7% in the 3rd quarter. True Wealth Design LLC now owns 58 shares of the software company's stock worth $30,000 after purchasing an additional 34 shares in the last quarter. Finally, Briaud Financial Planning Inc purchased a new stake in Adobe in the 3rd quarter worth approximately $36,000. Hedge funds and other institutional investors own 81.79% of the company's stock.

Adobe Trading Down 0.1 %

Shares of Adobe stock traded down $0.29 during midday trading on Monday, reaching $435.09. 3,333,834 shares of the company's stock traded hands, compared to its average volume of 3,865,703. The stock has a 50 day moving average of $468.14 and a 200-day moving average of $507.26. Adobe Inc. has a 12 month low of $403.75 and a 12 month high of $638.25. The company has a market cap of $189.39 billion, a PE ratio of 35.11, a price-to-earnings-growth ratio of 2.12 and a beta of 1.31. 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 (NASDAQ:ADBE - Get Free Report) last posted its earnings results on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, topping the consensus estimate of $4.67 by $0.14. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The firm had revenue of $5.61 billion during the quarter, compared to analysts' expectations of $5.54 billion. During the same period last year, the company posted $3.52 EPS. The company's quarterly revenue was up 11.1% compared to the same quarter last year. As a group, equities analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently weighed in on ADBE shares. TD Cowen cut shares of Adobe from a "buy" rating to a "hold" rating and decreased their price target for the stock from $625.00 to $550.00 in a report on Thursday, December 12th. 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. Jefferies Financial Group dropped their price target on Adobe from $700.00 to $650.00 and set a "buy" rating for the company in a research report on Thursday, December 12th. BNP Paribas upgraded shares of Adobe from an "underperform" rating to a "neutral" rating and set a $425.00 price objective on the stock in a research report on Wednesday, January 15th. Finally, Piper Sandler dropped their target price on shares of Adobe from $635.00 to $600.00 and set an "overweight" rating for the company in a research report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $573.00.

Insider Activity

In related news, CAO Jillian Forusz sold 676 shares of the firm's stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $484.97, for a total transaction of $327,839.72. Following the completion of the transaction, the chief accounting officer now owns 2,715 shares of the company's stock, valued at $1,316,693.55. This trade represents a 19.94 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Amy Banse sold 606 shares of Adobe stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $550.00, for a total value of $333,300.00. Following the completion of the transaction, the director now directly owns 32,929 shares of the company's stock, valued at approximately $18,110,950. This represents a 1.81 % decrease in their position. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by company insiders.

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.