M. Kraus & Co Makes New Investment in Adobe Inc. (NASDAQ:ADBE)

M. Kraus & Co bought a new position in shares of Adobe Inc. (NASDAQ:ADBE) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 7,388 shares of the software company’s stock, valued at approximately $3,285,000. Adobe accounts for about 1.0% of M. Kraus & Co’s investment portfolio, making the stock its 29th biggest position.

Several other institutional investors have also made changes to their positions in ADBE. Piscataqua Savings Bank grew its holdings in shares of Adobe by 226.7% during the 3rd quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock worth $25,000 after purchasing an additional 34 shares in the last quarter. Legacy Investment Solutions LLC acquired a new stake in Adobe during the third quarter worth about $26,000. Groupama Asset Managment raised its position 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 buying an additional 11,522 shares in the last quarter. MidAtlantic Capital Management Inc. bought a new stake in shares of Adobe during the 3rd quarter worth approximately $30,000. Finally, True Wealth Design LLC boosted its position in shares of Adobe by 141.7% during the 3rd quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock worth $30,000 after acquiring an additional 34 shares in the last quarter. 81.79% of the stock is currently owned by institutional investors.

Adobe Stock Performance

ADBE stock opened at $412.71 on Wednesday. The firm has a market cap of $181.67 billion, a PE ratio of 33.28, a price-to-earnings-growth ratio of 2.51 and a beta of 1.31. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.28. The stock has a 50-day moving average price of $481.07 and a 200-day moving average price of $515.02. Adobe Inc. has a 1-year low of $403.75 and a 1-year high of $638.25.

Adobe (NASDAQ:ADBE) last issued its earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share for the quarter, topping analysts’ consensus estimates of $4.67 by $0.14. Adobe had a return on equity of 45.22% and a net margin of 25.85%. The business had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.54 billion. During the same period in the previous year, the company posted $3.52 earnings per share. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. As a group, equities research analysts expect that Adobe Inc. will post 16.73 earnings per share for the current year.

Insider Activity

In other news, EVP Scott Belsky sold 481 shares of the firm’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $483.42, for a total value of $232,525.02. Following the completion of the sale, the executive vice president now directly owns 18,128 shares in the company, valued at $8,763,437.76. This trade represents a 2.58 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Jillian Forusz sold 676 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $484.97, for a total value of $327,839.72. Following the transaction, the chief accounting officer now directly owns 2,715 shares in the company, valued at approximately $1,316,693.55. This trade represents a 19.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,763 shares of company stock worth $893,665 in the last quarter. 0.15% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Stifel Nicolaus cut their target price on Adobe from $650.00 to $600.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $475.00 price objective (down from $600.00) on shares of Adobe in a research note on Wednesday, January 8th. TD Cowen cut shares of Adobe from a “buy” rating to a “hold” rating and dropped their target price for the stock from $625.00 to $550.00 in a report on Thursday, December 12th. Sanford C. Bernstein lowered their price objective on shares of Adobe from $644.00 to $587.00 and set an “outperform” rating for the company in a research report on Thursday, December 12th. Finally, JMP Securities restated a “market perform” rating on shares of Adobe in a research report on Thursday, December 12th. One research 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $573.00.

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.