Adobe Inc. (NASDAQ:ADBE) Shares Bought by Waterloo Capital L.P.

Waterloo Capital L.P. raised its holdings in Adobe Inc. (NASDAQ:ADBE) by 6.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,106 shares of the software company’s stock after buying an additional 246 shares during the quarter. Waterloo Capital L.P.’s holdings in Adobe were worth $2,281,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Tradewinds Capital Management LLC raised its position in shares of Adobe by 266.7% in the 1st quarter. Tradewinds Capital Management LLC now owns 55 shares of the software company’s stock valued at $28,000 after purchasing an additional 40 shares during the last quarter. Salomon & Ludwin LLC grew its position in Adobe by 346.2% during the 1st quarter. Salomon & Ludwin LLC now owns 58 shares of the software company’s stock worth $29,000 after purchasing an additional 45 shares during the last quarter. Summit Securities Group LLC acquired a new position in Adobe during the 2nd quarter valued at approximately $33,000. Steph & Co. raised its holdings in shares of Adobe by 63.8% in the first quarter. Steph & Co. now owns 77 shares of the software company’s stock worth $39,000 after buying an additional 30 shares during the last quarter. Finally, Lynx Investment Advisory acquired a new stake in shares of Adobe during the second quarter worth $39,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Shantanu Narayen sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $544.11, for a total value of $13,602,750.00. Following the transaction, the chief executive officer now owns 379,660 shares in the company, valued at $206,576,802.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Shantanu Narayen sold 25,000 shares of the stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $544.11, for a total value of $13,602,750.00. Following the completion of the sale, the chief executive officer now directly owns 379,660 shares in the company, valued at $206,576,802.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Mark S. Garfield sold 97 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $537.00, for a total transaction of $52,089.00. Following the completion of the transaction, the chief accounting officer now directly owns 2,797 shares in the company, valued at $1,501,989. The disclosure for this sale can be found here. In the last three months, insiders sold 27,259 shares of company stock worth $14,855,543. Corporate insiders own 0.15% of the company’s stock.

Adobe Price Performance

Adobe stock opened at $515.03 on Wednesday. The stock has a market capitalization of $228.36 billion, a P/E ratio of 46.27, a P/E/G ratio of 3.03 and a beta of 1.29. The company’s fifty day moving average price is $551.66 and its 200 day moving average price is $519.07. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.16 and a current ratio of 1.16. Adobe Inc. has a 1 year low of $433.97 and a 1 year high of $638.25.

Adobe (NASDAQ:ADBE) last announced its earnings results on Thursday, September 12th. The software company reported $4.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.53 by $0.12. Adobe had a net margin of 24.86% and a return on equity of 40.67%. The business had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.37 billion. During the same quarter last year, the business earned $3.26 earnings per share. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Adobe Inc. will post 14.69 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ADBE has been the topic of several research reports. Piper Sandler Companies reissued an “overweight” rating and issued a $635.00 target price on shares of Adobe in a research report on Friday, July 12th. Morgan Stanley reissued an “overweight” rating and issued a $660.00 price objective on shares of Adobe in a report on Friday, September 13th. TD Cowen reduced their price objective on Adobe from $640.00 to $625.00 and set a “buy” rating for the company in a research note on Monday, June 10th. Citigroup upped their target price on Adobe from $550.00 to $621.00 and gave the company a “neutral” rating in a research report on Wednesday, September 11th. Finally, Robert W. Baird raised their price target on shares of Adobe from $525.00 to $545.00 and gave the stock a “neutral” rating in a research report on Friday, June 14th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $606.58.

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.