Kraematon Investment Advisors Inc. Acquires 130 Shares of Adobe Inc. (NASDAQ:ADBE)

Kraematon Investment Advisors Inc. grew its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 2.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,577 shares of the software company’s stock after purchasing an additional 130 shares during the period. Adobe makes up 2.0% of Kraematon Investment Advisors Inc.’s investment portfolio, making the stock its 17th biggest holding. Kraematon Investment Advisors Inc.’s holdings in Adobe were worth $2,035,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Legacy Investment Solutions LLC bought a new position in shares of Adobe in the third quarter valued at approximately $26,000. Piscataqua Savings Bank raised its stake in Adobe by 226.7% in the 3rd quarter. Piscataqua Savings Bank now owns 49 shares of the software company’s stock valued at $25,000 after acquiring an additional 34 shares during the period. MidAtlantic Capital Management Inc. purchased a new stake in shares of Adobe during the 3rd quarter valued at approximately $30,000. True Wealth Design LLC raised its stake 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 valued at $30,000 after purchasing an additional 34 shares during the period. Finally, Briaud Financial Planning Inc purchased a new stake in shares of Adobe in the third quarter worth about $36,000. Institutional investors own 81.79% of the company’s stock.

Adobe Trading Up 2.3 %

Adobe stock opened at $426.93 on Friday. Adobe Inc. has a 52 week low of $403.75 and a 52 week high of $638.25. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.11 and a current ratio of 1.07. The firm has a market capitalization of $185.84 billion, a PE ratio of 34.43, a PEG ratio of 1.97 and a beta of 1.31. The business’s 50-day simple moving average is $479.32 and its 200-day simple moving average is $514.33.

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

Insider Activity at Adobe

In other news, EVP Scott Belsky sold 481 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $483.42, for a total transaction of $232,525.02. Following the completion of the sale, the executive vice president now owns 18,128 shares of the company’s stock, valued at approximately $8,763,437.76. This trade represents a 2.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Amy Banse sold 606 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $550.00, for a total value of $333,300.00. Following the completion of the transaction, the director now directly owns 32,929 shares in the company, valued at $18,110,950. The trade was a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,763 shares of company stock valued at $893,665 over the last quarter. 0.15% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on ADBE shares. Stifel Nicolaus dropped their price target on Adobe from $650.00 to $600.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. Jefferies Financial Group lowered their target price on Adobe from $700.00 to $650.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. TD Cowen cut shares of Adobe from a “buy” rating to a “hold” rating and dropped their price target for the company from $625.00 to $550.00 in a research report on Thursday, December 12th. JMP Securities reiterated a “market perform” rating on shares of Adobe in a research report on Thursday, December 12th. Finally, StockNews.com raised shares of Adobe from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Adobe presently has a consensus rating of “Moderate Buy” and a consensus price target of $573.00.

Adobe 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.