M. Kraus & Co Acquires New Stake in Adobe Inc. (NASDAQ:ADBE)

M. Kraus & Co purchased a new position in Adobe Inc. (NASDAQ:ADBE - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 7,388 shares of the software company's stock, valued at approximately $3,285,000. Adobe makes up about 1.0% of M. Kraus & Co's portfolio, making the stock its 29th biggest holding.

A number of other large investors also recently added to or reduced their stakes in ADBE. Legacy Investment Solutions LLC acquired a new stake in shares of Adobe in the third quarter valued at about $26,000. Piscataqua Savings Bank raised its holdings in Adobe by 226.7% in the 3rd quarter. Piscataqua Savings Bank now owns 49 shares of the software company's stock valued at $25,000 after acquiring an additional 34 shares during the last quarter. MidAtlantic Capital Management Inc. purchased a new position in Adobe in 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 acquired a new position in shares of Adobe during the 3rd quarter worth approximately $36,000. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ADBE has been the topic of a number of analyst reports. StockNews.com upgraded Adobe from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, December 18th. BMO Capital Markets lowered their price target on shares of Adobe from $600.00 to $570.00 and set an "outperform" rating on the stock in a research report on Thursday, December 12th. Mizuho cut their price objective on shares of Adobe from $640.00 to $620.00 and set an "outperform" rating for the company in a research report on Thursday, December 12th. Wells Fargo & Company reduced their target price on shares of Adobe from $700.00 to $640.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 7th. Finally, Citigroup cut their price target on shares of Adobe from $616.00 to $590.00 and set a "neutral" rating for the company in a report on Monday, December 9th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $573.00.

Insider Activity

In other news, Director Amy Banse sold 606 shares of Adobe stock in a transaction on Friday, December 6th. The shares were sold at an average price of $550.00, for a total value of $333,300.00. Following the transaction, the director now directly owns 32,929 shares of the company's stock, valued at $18,110,950. The trade was a 1.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Scott Belsky sold 481 shares of the stock in a transaction on Friday, October 25th. The stock was sold at an average price of $483.42, for a total transaction of $232,525.02. Following the sale, the executive vice president now owns 18,128 shares of the company's stock, valued at approximately $8,763,437.76. This represents a 2.58 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 1,763 shares of company stock valued at $893,665. Insiders own 0.15% of the company's stock.

Adobe Stock Up 1.3 %

Shares of NASDAQ:ADBE traded up $5.53 on Wednesday, hitting $418.24. 2,374,617 shares of the company's stock were exchanged, compared to its average volume of 3,975,813. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.11 and a current ratio of 1.11. Adobe Inc. has a 1-year low of $403.75 and a 1-year high of $638.25. The company has a market capitalization of $184.11 billion, a PE ratio of 33.73, a P/E/G ratio of 2.51 and a beta of 1.31. The firm's 50-day moving average is $481.07 and its 200 day moving average is $515.02.

Adobe (NASDAQ:ADBE - Get Free Report) 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 net margin of 25.85% and a return on equity of 45.22%. The company had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.54 billion. During the same period in the prior year, the firm posted $3.52 earnings per share. The firm's revenue was up 11.1% on a year-over-year basis. Sell-side analysts predict that Adobe Inc. will post 16.73 EPS for the current year.

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.