Tobam Purchases 254 Shares of Adobe Inc. (NASDAQ:ADBE)

Tobam lifted its position in shares of Adobe Inc. (NASDAQ:ADBE) by 29.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,129 shares of the software company’s stock after acquiring an additional 254 shares during the quarter. Tobam’s holdings in Adobe were worth $502,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in ADBE. Global X Japan Co. Ltd. boosted its position in Adobe by 0.7% during the fourth quarter. Global X Japan Co. Ltd. now owns 10,728 shares of the software company’s stock worth $4,771,000 after purchasing an additional 77 shares during the period. Beese Fulmer Investment Management Inc. raised its position in shares of Adobe by 3.4% in the fourth quarter. Beese Fulmer Investment Management Inc. now owns 20,711 shares of the software company’s stock valued at $9,210,000 after purchasing an additional 690 shares during the period. Fairvoy Private Wealth LLC bought a new position in Adobe in the 4th quarter worth approximately $2,235,000. William Allan Corp grew its stake in Adobe by 29.0% in the 4th quarter. William Allan Corp now owns 6,810 shares of the software company’s stock valued at $3,028,000 after buying an additional 1,530 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in Adobe by 4.3% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 76,311 shares of the software company’s stock valued at $33,934,000 after acquiring an additional 3,142 shares during the period. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Adobe Stock Performance

NASDAQ:ADBE opened at $435.40 on Friday. 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 Inc. has a fifty-two week low of $403.75 and a fifty-two week high of $628.07. The business has a 50 day moving average price of $457.14 and a 200-day moving average price of $500.93. The firm has a market cap of $189.53 billion, a PE ratio of 35.11, a price-to-earnings-growth ratio of 2.12 and a beta of 1.31.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share 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 45.87%. The business had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.54 billion. During the same quarter in the prior year, the company posted $3.52 EPS. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. Equities research analysts predict that Adobe Inc. will post 16.65 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently commented on ADBE. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $475.00 price target (down from $600.00) on shares of Adobe in a report on Wednesday, January 8th. Piper Sandler decreased their price target on shares of Adobe from $635.00 to $600.00 and set an “overweight” rating on the stock in a report on Thursday, December 12th. StockNews.com raised Adobe from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, January 28th. Sanford C. Bernstein decreased their target price on Adobe from $644.00 to $587.00 and set an “outperform” rating on the stock in a research note on Thursday, December 12th. Finally, BMO Capital Markets dropped their price target on Adobe from $600.00 to $570.00 and set an “outperform” rating for the company in a research report on Thursday, December 12th. One analyst has rated the stock with a sell rating, ten have given a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $573.00.

Insider Buying and Selling

In other Adobe news, Director Amy Banse sold 606 shares of the business’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $550.00, for a total transaction of $333,300.00. Following the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David A. Ricks purchased 2,250 shares of Adobe stock in a transaction that occurred on Tuesday, January 28th. The shares were bought at an average price of $443.98 per share, for a total transaction of $998,955.00. Following the transaction, the director now directly owns 4,984 shares of the company’s stock, valued at $2,212,796.32. This trade represents a 82.30 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 5,681 shares of company stock valued at $2,525,126 over the last ninety days. 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.