NBW Capital LLC Invests $1.47 Million in Adobe Inc. (NASDAQ:ADBE)

NBW Capital LLC purchased a new position in Adobe Inc. (NASDAQ:ADBE) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 3,295 shares of the software company’s stock, valued at approximately $1,465,000.

Other large investors have also recently made changes to their positions in the company. Legacy Investment Solutions LLC bought a new position in shares of Adobe in the third quarter worth $26,000. MidAtlantic Capital Management Inc. purchased a new stake in shares of Adobe in the third quarter worth $30,000. True Wealth Design LLC raised its position in shares of Adobe by 141.7% in the third quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock worth $30,000 after buying an additional 34 shares in the last quarter. Briaud Financial Planning Inc purchased a new stake in shares of Adobe in the third quarter worth $36,000. Finally, Decker Retirement Planning Inc. purchased a new stake in shares of Adobe in the fourth quarter worth $31,000. 81.79% of the stock is owned by institutional investors.

Adobe Stock Up 0.5 %

NASDAQ ADBE opened at $440.72 on Tuesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. The stock has a market capitalization of $191.85 billion, a PE ratio of 35.54, a PEG ratio of 2.15 and a beta of 1.31. Adobe Inc. has a 1 year low of $403.75 and a 1 year high of $587.75. The business’s 50-day moving average is $439.59 and its 200 day moving average is $489.79.

Adobe (NASDAQ:ADBE) last posted its earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.67 by $0.14. The company had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.54 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. Adobe’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period last year, the firm earned $3.52 earnings per share. Sell-side analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ADBE has been the topic of a number of recent analyst reports. JMP Securities reiterated a “market perform” rating on shares of Adobe in a research report on Thursday, December 12th. Barclays lowered their price objective on Adobe from $675.00 to $645.00 and set an “overweight” rating on the stock in a research report on Thursday, December 12th. UBS Group lowered their price objective on Adobe from $525.00 to $475.00 and set a “neutral” rating on the stock in a research report on Friday, January 3rd. Piper Sandler lowered their price objective on Adobe from $635.00 to $600.00 and set an “overweight” rating on the stock in a research report on Thursday, December 12th. Finally, Mizuho lowered their price objective on Adobe from $640.00 to $620.00 and set an “outperform” rating on the stock in a research report on Thursday, December 12th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Adobe presently has an average rating of “Moderate Buy” and a consensus price target of $570.88.

Insider Buying and Selling at Adobe

In other Adobe news, EVP Scott Belsky sold 3,819 shares of Adobe stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $430.24, for a total transaction of $1,643,086.56. Following the sale, the executive vice president now directly owns 18,334 shares of the company’s stock, valued at approximately $7,888,020.16. The trade was a 17.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Jillian Forusz sold 334 shares of Adobe stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $435.83, for a total value of $145,567.22. Following the sale, the chief accounting officer now directly owns 2,685 shares in the company, valued at approximately $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. In the last three months, insiders have sold 5,681 shares of company stock valued at $2,525,126. 0.15% of the stock is currently owned by corporate insiders.

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.