Gables Capital Management Inc. Has $440,000 Stock Holdings in Adobe Inc. (NASDAQ:ADBE)

Gables Capital Management Inc. grew its holdings in Adobe Inc. (NASDAQ:ADBE) by 14.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 990 shares of the software company’s stock after purchasing an additional 125 shares during the quarter. Gables Capital Management Inc.’s holdings in Adobe were worth $440,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Legacy Investment Solutions LLC acquired a new position in shares of Adobe in the 3rd quarter valued at about $26,000. Groupama Asset Managment lifted its stake in shares of Adobe by 28.8% in the 3rd quarter. Groupama Asset Managment now owns 51,482 shares of the software company’s stock valued at $27,000 after purchasing an additional 11,522 shares during the period. MidAtlantic Capital Management Inc. acquired a new position in shares of Adobe in the 3rd quarter valued at about $30,000. True Wealth Design LLC lifted its stake in shares of Adobe by 141.7% in the 3rd quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock valued at $30,000 after purchasing an additional 34 shares during the period. Finally, Decker Retirement Planning Inc. acquired a new position in shares of Adobe in the 4th quarter valued at about $31,000. 81.79% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Adobe

In related news, Director David A. Ricks purchased 2,250 shares of the business’s stock in a transaction dated Tuesday, January 28th. The stock was purchased at an average cost of $443.98 per share, with a total value of $998,955.00. Following the completion of the acquisition, the director now directly owns 4,984 shares of the company’s stock, valued at approximately $2,212,796.32. The trade was a 82.30 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Jillian Forusz sold 334 shares of the firm’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total value of $145,567.22. Following the completion of the transaction, the chief accounting officer now directly owns 2,685 shares of the company’s stock, valued at $1,170,203.55. The trade was a 11.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,075 shares of company stock valued at $2,191,826. Company insiders own 0.15% of the company’s stock.

Adobe Price Performance

Shares of NASDAQ ADBE opened at $435.08 on Tuesday. The stock has a fifty day simple moving average of $439.35 and a two-hundred day simple moving average of $485.74. Adobe Inc. has a 1-year low of $403.75 and a 1-year high of $587.75. The firm has a market cap of $189.44 billion, a price-to-earnings ratio of 35.09, a price-to-earnings-growth ratio of 2.15 and a beta of 1.37. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data 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 return on equity of 45.87% and a net margin of 25.85%. The business had revenue of $5.61 billion during the quarter, compared to analyst estimates of $5.54 billion. During the same period in the prior year, the company earned $3.52 earnings per share. Adobe’s revenue was up 11.1% compared to the same quarter last year. Analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current year.

Wall Street Analyst Weigh In

ADBE has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $475.00 price target (down from $600.00) on shares of Adobe in a research note on Wednesday, January 8th. TD Cowen downgraded Adobe from a “buy” rating to a “hold” rating and dropped their price target for the stock from $625.00 to $550.00 in a research note on Thursday, December 12th. Royal Bank of Canada dropped their price target on Adobe from $590.00 to $550.00 and set an “outperform” rating on the stock in a research note on Friday. DA Davidson dropped their price target on Adobe from $685.00 to $625.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. Finally, Redburn Atlantic initiated coverage on Adobe in a research note on Wednesday, February 19th. They set a “neutral” rating on the stock. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $563.96.

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.