Adobe Inc. (NASDAQ:ADBE) Shares Bought by Geo Capital Gestora de Recursos Ltd

Geo Capital Gestora de Recursos Ltd lifted its stake in Adobe Inc. (NASDAQ:ADBE) by 477.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 4,857 shares of the software company’s stock after acquiring an additional 4,016 shares during the quarter. Adobe accounts for 2.8% of Geo Capital Gestora de Recursos Ltd’s investment portfolio, making the stock its 17th largest position. Geo Capital Gestora de Recursos Ltd’s holdings in Adobe were worth $2,160,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in ADBE. 1ST Source Bank lifted its position in Adobe by 0.7% during the third quarter. 1ST Source Bank now owns 2,889 shares of the software company’s stock valued at $1,496,000 after buying an additional 20 shares in the last quarter. Foster Group Inc. lifted its position in Adobe by 4.6% during the fourth quarter. Foster Group Inc. now owns 526 shares of the software company’s stock valued at $234,000 after buying an additional 23 shares in the last quarter. Atlantic Edge Private Wealth Management LLC lifted its position in Adobe by 0.4% during the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 5,406 shares of the software company’s stock valued at $2,404,000 after buying an additional 23 shares in the last quarter. Veery Capital LLC lifted its position in Adobe by 1.9% during the fourth quarter. Veery Capital LLC now owns 1,315 shares of the software company’s stock valued at $585,000 after buying an additional 24 shares in the last quarter. Finally, Cornerstone Wealth Management LLC lifted its position in Adobe by 1.8% during the fourth quarter. Cornerstone Wealth Management LLC now owns 1,327 shares of the software company’s stock valued at $590,000 after buying an additional 24 shares in the last quarter. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director David A. Ricks bought 2,250 shares of the firm’s stock in a transaction that occurred on Tuesday, January 28th. The stock was purchased 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 approximately $2,212,796.32. This represents a 82.30 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Scott Belsky sold 3,819 shares of the stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $430.24, for a total transaction of $1,643,086.56. Following the completion of the transaction, the executive vice president now owns 18,334 shares of the company’s stock, valued at $7,888,020.16. This represents a 17.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,075 shares of company stock valued at $2,191,826 in the last quarter. Company insiders own 0.16% of the company’s stock.

Adobe Stock Down 0.6 %

ADBE stock opened at $387.26 on Friday. 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 1-year low of $374.50 and a 1-year high of $587.75. The firm has a fifty day moving average price of $434.16 and a two-hundred day moving average price of $476.46. The firm has a market cap of $168.62 billion, a price-to-earnings ratio of 31.23, a PEG ratio of 2.15 and a beta of 1.37.

Adobe (NASDAQ:ADBE) last released its earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share for the quarter, beating the consensus estimate of $4.97 by $0.11. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The firm had revenue of $5.71 billion during the quarter, compared to analyst estimates of $5.66 billion. During the same quarter in the previous year, the firm earned $4.48 earnings per share. Research analysts predict that Adobe Inc. will post 16.65 EPS for the current year.

Analysts Set New Price Targets

ADBE has been the topic of a number of recent research reports. Robert W. Baird reduced their price target on shares of Adobe from $490.00 to $410.00 and set a “neutral” rating on the stock in a research report on Wednesday. Bank of America reduced their target price on shares of Adobe from $605.00 to $528.00 and set a “buy” rating on the stock in a research report on Thursday, March 13th. Sanford C. Bernstein reduced their target price on shares of Adobe from $644.00 to $587.00 and set an “outperform” rating on the stock in a research report on Thursday, December 12th. BNP Paribas raised shares of Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 target price on the stock in a research report on Wednesday, January 15th. Finally, BMO Capital Markets reduced their target price on shares of Adobe from $515.00 to $495.00 and set an “outperform” rating on the stock in a research report on Thursday, March 13th. Eleven equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $538.80.

Adobe Company 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.