Motiv8 Investments LLC Buys 862 Shares of Adobe Inc. (NASDAQ:ADBE)

Motiv8 Investments LLC lifted its stake in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 58.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,335 shares of the software company's stock after purchasing an additional 862 shares during the quarter. Motiv8 Investments LLC's holdings in Adobe were worth $1,038,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of ADBE. Swedbank AB raised its position in Adobe by 0.3% in the third quarter. Swedbank AB now owns 1,196,175 shares of the software company's stock worth $619,355,000 after acquiring an additional 3,739 shares in the last quarter. Hunter Associates Investment Management LLC increased its stake in Adobe by 28.9% in the 3rd quarter. Hunter Associates Investment Management LLC now owns 891 shares of the software company's stock worth $463,000 after purchasing an additional 200 shares in the last quarter. Cantor Fitzgerald Investment Advisors L.P. purchased a new position in Adobe in the 3rd quarter worth about $435,000. Fortitude Family Office LLC increased its stake in Adobe by 31.1% in the 3rd quarter. Fortitude Family Office LLC now owns 173 shares of the software company's stock worth $90,000 after purchasing an additional 41 shares in the last quarter. Finally, Integrated Advisors Network LLC increased its stake in Adobe by 34.6% in the 3rd quarter. Integrated Advisors Network LLC now owns 5,927 shares of the software company's stock worth $3,069,000 after purchasing an additional 1,522 shares in the last quarter. 81.79% of the stock is currently owned by institutional investors.

Adobe Stock Performance

Shares of ADBE traded up $1.30 on Friday, reaching $438.49. 3,936,248 shares of the stock traded hands, compared to its average volume of 3,474,121. The firm has a market cap of $190.87 billion, a price-to-earnings ratio of 35.36, a P/E/G ratio of 2.15 and a beta of 1.31. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. Adobe Inc. has a 12 month low of $403.75 and a 12 month high of $587.75. The stock's 50-day moving average price is $439.71 and its 200-day moving average price is $490.59.

Adobe (NASDAQ:ADBE - Get Free Report) last announced its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share for the quarter, beating analysts' consensus estimates of $4.67 by $0.14. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The firm had revenue of $5.61 billion for the quarter, compared to analysts' expectations of $5.54 billion. During the same period in the prior year, the business posted $3.52 earnings per share. The business's revenue was up 11.1% compared to the same quarter last year. Equities analysts forecast that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on ADBE shares. Royal Bank of Canada reissued an "outperform" rating and issued a $590.00 price target on shares of Adobe in a research note on Thursday, February 13th. JMP Securities reiterated a "market perform" rating on shares of Adobe in a report on Thursday, December 12th. StockNews.com lowered Adobe from a "strong-buy" rating to a "buy" rating in a report on Thursday, February 20th. Piper Sandler reduced their price target on Adobe from $635.00 to $600.00 and set an "overweight" rating for the company in a report on Thursday, December 12th. Finally, Oppenheimer reduced their target price on Adobe from $625.00 to $600.00 and set an "outperform" rating for the company in a report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Adobe has an average rating of "Moderate Buy" and an average price target of $570.88.

Insider Buying and Selling at Adobe

In other news, EVP Scott Belsky sold 3,819 shares of the stock in a transaction on Monday, January 27th. The stock was sold at an average price of $430.24, for a total transaction of $1,643,086.56. Following the sale, the executive vice president now owns 18,334 shares in the company, valued at approximately $7,888,020.16. This represents a 17.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Amy Banse sold 606 shares of the stock in a transaction on Friday, December 6th. The stock was sold at an average price of $550.00, for a total value of $333,300.00. Following the sale, the director now owns 32,929 shares in the company, valued at $18,110,950. The trade was a 1.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,681 shares of company stock worth $2,525,126 over the last three months. Company insiders own 0.15% of the company's stock.

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.