Kraematon Investment Advisors Inc. Purchases 130 Shares of Adobe Inc. (NASDAQ:ADBE)

Kraematon Investment Advisors Inc. increased its position in shares of Adobe Inc. (NASDAQ:ADBE) by 2.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,577 shares of the software company’s stock after acquiring an additional 130 shares during the quarter. Adobe comprises about 2.0% of Kraematon Investment Advisors Inc.’s investment portfolio, making the stock its 17th largest position. Kraematon Investment Advisors Inc.’s holdings in Adobe were worth $2,035,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its stake in Adobe by 66,909.7% in the third quarter. International Assets Investment Management LLC now owns 1,378,390 shares of the software company’s stock valued at $713,703,000 after buying an additional 1,376,333 shares during the period. Longview Partners Guernsey LTD acquired a new stake in shares of Adobe in the 2nd quarter valued at approximately $663,745,000. FMR LLC boosted its stake in Adobe by 8.8% during the 3rd quarter. FMR LLC now owns 9,690,163 shares of the software company’s stock worth $5,017,373,000 after acquiring an additional 787,356 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in Adobe by 42.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,168,584 shares of the software company’s stock valued at $519,646,000 after purchasing an additional 347,536 shares during the period. Finally, Erste Asset Management GmbH acquired a new position in Adobe during the third quarter valued at approximately $126,703,000. Institutional investors own 81.79% of the company’s stock.

Adobe Trading Up 2.3 %

Adobe stock opened at $426.93 on Friday. Adobe Inc. has a 52 week low of $403.75 and a 52 week high of $638.25. The stock has a market capitalization of $185.84 billion, a P/E ratio of 34.43, a PEG ratio of 1.97 and a beta of 1.31. The stock has a 50-day simple moving average of $479.32 and a 200 day simple moving average of $514.33. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.11 and a current ratio of 1.07.

Adobe (NASDAQ:ADBE) last posted 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 business had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.54 billion. During the same quarter in the prior year, the business earned $3.52 EPS. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. Analysts expect that Adobe Inc. will post 16.65 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ADBE has been the topic of a number of recent analyst reports. TD Cowen cut shares of Adobe from a “buy” rating to a “hold” rating and reduced their price target for the stock from $625.00 to $550.00 in a research report on Thursday, December 12th. Piper Sandler dropped their price target on Adobe from $635.00 to $600.00 and set an “overweight” rating on the stock in a research report on Thursday, December 12th. DA Davidson decreased their price objective on Adobe from $685.00 to $625.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. Barclays dropped their target price on shares of Adobe from $675.00 to $645.00 and set an “overweight” rating on the stock in a report on Thursday, December 12th. Finally, JMP Securities reiterated a “market perform” rating on shares of Adobe in a report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $573.00.

Insider Transactions at Adobe

In other Adobe news, 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 transaction, the executive vice president now owns 18,128 shares in the company, valued at $8,763,437.76. This trade represents a 2.58 % 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 the business’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $550.00, for a total transaction of $333,300.00. Following the completion of the sale, the director now directly owns 32,929 shares of the company’s stock, valued at approximately $18,110,950. The trade was a 1.81 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,763 shares of company stock worth $893,665. 0.15% of the stock is owned by insiders.

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.