Adobe Inc. (NASDAQ:ADBE) Shares Acquired by Kapitalo Investimentos Ltda

Kapitalo Investimentos Ltda boosted its stake in Adobe Inc. (NASDAQ:ADBE) by 107.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 879 shares of the software company’s stock after buying an additional 456 shares during the period. Kapitalo Investimentos Ltda’s holdings in Adobe were worth $524,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Wetzel Investment Advisors Inc. acquired a new stake in Adobe in the fourth quarter worth about $35,000. Hanseatic Management Services Inc. acquired a new stake in shares of Adobe in the 3rd quarter worth approximately $45,000. Vima LLC bought a new position in shares of Adobe in the fourth quarter valued at approximately $55,000. Pineridge Advisors LLC acquired a new position in shares of Adobe during the fourth quarter valued at approximately $60,000. Finally, Scarborough Advisors LLC bought a new stake in Adobe during the fourth quarter worth approximately $61,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Adobe Price Performance

ADBE stock traded up $3.06 during trading on Tuesday, hitting $521.80. 1,647,554 shares of the stock traded hands, compared to its average volume of 3,514,343. The stock has a market cap of $233.77 billion, a price-to-earnings ratio of 46.61, a P/E/G ratio of 2.84 and a beta of 1.27. Adobe Inc. has a one year low of $433.97 and a one year high of $638.25. The company has a current ratio of 1.16, a quick ratio of 1.05 and a debt-to-equity ratio of 0.28. The company has a 50 day simple moving average of $475.32 and a 200 day simple moving average of $539.44.

Adobe (NASDAQ:ADBE) last announced its earnings results on Thursday, June 13th. The software company reported $4.48 EPS for the quarter, topping the consensus estimate of $4.39 by $0.09. Adobe had a return on equity of 40.67% and a net margin of 24.86%. The business had revenue of $5.31 billion for the quarter, compared to the consensus estimate of $5.29 billion. During the same period in the previous year, the business earned $3.04 EPS. Adobe’s revenue was up 10.2% compared to the same quarter last year. Equities analysts expect that Adobe Inc. will post 14.55 EPS for the current fiscal year.

Adobe declared that its Board of Directors has initiated a share repurchase plan on Thursday, March 14th that allows the company to repurchase $25.00 billion in outstanding shares. This repurchase authorization allows the software company to purchase up to 10.8% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other Adobe news, CAO Mark S. Garfield sold 96 shares of the business’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $470.00, for a total value of $45,120.00. Following the completion of the transaction, the chief accounting officer now directly owns 4,128 shares of the company’s stock, valued at $1,940,160. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CAO Mark S. Garfield sold 96 shares of Adobe stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $470.00, for a total value of $45,120.00. Following the completion of the sale, the chief accounting officer now directly owns 4,128 shares of the company’s stock, valued at approximately $1,940,160. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Scott Belsky sold 2,713 shares of Adobe stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $474.30, for a total value of $1,286,775.90. Following the completion of the sale, the executive vice president now owns 21,114 shares of the company’s stock, valued at $10,014,370.20. The disclosure for this sale can be found here. Insiders have sold a total of 3,006 shares of company stock valued at $1,424,432 in the last 90 days. 0.15% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on ADBE shares. Piper Sandler Companies decreased their target price on Adobe from $705.00 to $700.00 and set an “overweight” rating for the company in a research note on Friday, March 15th. Mizuho reaffirmed a “buy” rating and set a $640.00 target price (down from $680.00) on shares of Adobe in a report on Friday, June 7th. TD Cowen dropped their price target on Adobe from $640.00 to $625.00 and set a “buy” rating on the stock in a research note on Monday, June 10th. HSBC reduced their price objective on shares of Adobe from $557.00 to $511.00 and set a “hold” rating for the company in a research note on Friday, March 15th. Finally, Evercore ISI restated an “outperform” rating and issued a $650.00 price target on shares of Adobe in a research report on Friday, June 7th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-one have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $607.67.

About Adobe

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.