VanderPol Investments L.L.C. Buys New Shares in Adobe Inc. (NASDAQ:ADBE)

VanderPol Investments L.L.C. purchased a new position in Adobe Inc. (NASDAQ:ADBE) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 503 shares of the software company’s stock, valued at approximately $300,000.

A number of other institutional investors and hedge funds have also bought and sold shares of ADBE. Wetzel Investment Advisors Inc. bought a new position in shares of Adobe during the 4th quarter valued at about $35,000. Hanseatic Management Services Inc. bought a new position in shares of Adobe during the 3rd quarter valued at approximately $45,000. Vima LLC purchased a new position in shares of Adobe in the fourth quarter valued at $55,000. Pineridge Advisors LLC bought a new stake in Adobe in the fourth quarter worth $60,000. Finally, Scarborough Advisors LLC purchased a new stake in Adobe during the fourth quarter valued at $61,000. 81.79% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Adobe news, CAO Mark S. Garfield sold 96 shares of the firm’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $470.00, for a total transaction of $45,120.00. Following the completion of the transaction, the chief accounting officer now owns 4,128 shares of the company’s stock, valued at $1,940,160. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Adobe news, insider Anil Chakravarthy sold 100 shares of the business’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $471.00, for a total value of $47,100.00. Following the completion of the transaction, the insider now directly owns 33,609 shares in the company, valued at approximately $15,829,839. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Mark S. Garfield sold 96 shares of Adobe stock in a transaction on 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 sale, the chief accounting officer now directly owns 4,128 shares of the company’s stock, valued at approximately $1,940,160. The disclosure for this sale can be found here. Insiders sold 3,006 shares of company stock worth $1,424,432 in the last ninety days. Insiders own 0.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ADBE. UBS Group decreased their target price on shares of Adobe from $600.00 to $540.00 and set a “neutral” rating on the stock in a research report on Friday, March 15th. Melius Research reissued a “hold” rating and set a $510.00 target price on shares of Adobe in a research report on Monday, June 10th. DA Davidson reaffirmed a “buy” rating and set a $685.00 price objective on shares of Adobe in a research note on Thursday, March 28th. Sanford C. Bernstein increased their target price on shares of Adobe from $653.00 to $660.00 and gave the company an “outperform” rating in a research note on Monday. Finally, Citigroup dropped their price target on shares of Adobe from $554.00 to $529.00 and set a “neutral” rating for the company in a research note on Monday, June 10th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-one have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $607.67.

Adobe Trading Down 1.3 %

Shares of Adobe stock opened at $518.74 on Tuesday. The company has a quick ratio of 1.05, a current ratio of 1.16 and a debt-to-equity ratio of 0.28. The company’s 50-day simple moving average is $475.32 and its 200-day simple moving average is $539.44. The firm has a market cap of $232.40 billion, a price-to-earnings ratio of 46.61, a price-to-earnings-growth ratio of 2.84 and a beta of 1.27. Adobe Inc. has a 52-week low of $433.97 and a 52-week high of $638.25.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings data on Thursday, June 13th. The software company reported $4.48 EPS for the quarter, beating analysts’ consensus estimates of $4.39 by $0.09. Adobe had a net margin of 24.86% and a return on equity of 40.67%. The firm had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $5.29 billion. During the same period in the prior year, the company earned $3.04 EPS. The firm’s revenue was up 10.2% on a year-over-year basis. As a group, equities research analysts anticipate that Adobe Inc. will post 14.55 earnings per share for the current year.

Adobe declared that its board has approved a share buyback plan on Thursday, March 14th that authorizes the company to buyback $25.00 billion in shares. This buyback authorization authorizes the software company to reacquire up to 10.8% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.

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.