Schnieders Capital Management LLC Has $1.56 Million Stock Position in Adobe Inc. (NASDAQ:ADBE)

Schnieders Capital Management LLC lessened its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 7.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,608 shares of the software company’s stock after selling 225 shares during the quarter. Schnieders Capital Management LLC’s holdings in Adobe were worth $1,556,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of ADBE. Capital Investment Advisors LLC raised its holdings in Adobe by 13.3% in the 3rd quarter. Capital Investment Advisors LLC now owns 1,980 shares of the software company’s stock valued at $1,009,000 after buying an additional 233 shares during the last quarter. Impact Partnership Wealth LLC raised its stake in shares of Adobe by 459.5% during the third quarter. Impact Partnership Wealth LLC now owns 235 shares of the software company’s stock valued at $120,000 after acquiring an additional 193 shares during the last quarter. 1900 Wealth Management LLC lifted its holdings in shares of Adobe by 54.9% during the third quarter. 1900 Wealth Management LLC now owns 2,334 shares of the software company’s stock worth $1,190,000 after purchasing an additional 827 shares during the period. Founders Financial Securities LLC grew its stake in shares of Adobe by 42.0% in the third quarter. Founders Financial Securities LLC now owns 1,706 shares of the software company’s stock worth $870,000 after purchasing an additional 505 shares during the last quarter. Finally, B & T Capital Management DBA Alpha Capital Management acquired a new stake in Adobe in the third quarter valued at $204,000. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CAO Mark S. Garfield sold 788 shares of the stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $615.42, for a total transaction of $484,950.96. Following the completion of the sale, the chief accounting officer now directly owns 4,055 shares of the company’s stock, valued at $2,495,528.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CAO Mark S. Garfield sold 788 shares of the stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $615.42, for a total transaction of $484,950.96. Following the completion of the transaction, the chief accounting officer now owns 4,055 shares in the company, valued at $2,495,528.10. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Anil Chakravarthy sold 100 shares of the firm’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $471.00, for a total transaction of $47,100.00. Following the sale, the insider now owns 33,609 shares of the company’s stock, valued at approximately $15,829,839. The disclosure for this sale can be found here. Insiders sold a total of 3,175 shares of company stock valued at $1,895,518 over the last three months. Corporate insiders own 0.15% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the company. JMP Securities reaffirmed a “market perform” rating on shares of Adobe in a report on Thursday, March 28th. Barclays reduced their target price on Adobe from $700.00 to $630.00 and set an “overweight” rating on the stock in a report on Friday, March 15th. TheStreet lowered shares of Adobe from a “b-” rating to a “c+” rating in a report on Tuesday, March 19th. BNP Paribas lowered shares of Adobe from a “neutral” rating to an “underperform” rating and set a $499.00 price objective on the stock. in a research note on Thursday, January 18th. Finally, Piper Sandler Companies lowered their target price on shares of Adobe from $705.00 to $700.00 and set an “overweight” rating for the company in a research note on Friday, March 15th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat, Adobe currently has a consensus rating of “Moderate Buy” and a consensus price target of $620.72.

Adobe Stock Up 1.3 %

ADBE traded up $6.01 during mid-day trading on Tuesday, reaching $472.90. 2,200,448 shares of the stock were exchanged, compared to its average volume of 3,540,307. Adobe Inc. has a 1 year low of $331.89 and a 1 year high of $638.25. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a market capitalization of $211.86 billion, a PE ratio of 45.21, a price-to-earnings-growth ratio of 2.52 and a beta of 1.28. The company has a 50 day moving average price of $521.61 and a two-hundred day moving average price of $565.95.

Adobe (NASDAQ:ADBE) last released its quarterly earnings results on Thursday, March 14th. The software company reported $4.48 earnings per share for the quarter, beating analysts’ consensus estimates of $4.38 by $0.10. The company had revenue of $5.18 billion for the quarter, compared to analyst estimates of $5.14 billion. Adobe had a net margin of 24.08% and a return on equity of 39.12%. The firm’s revenue was up 11.3% on a year-over-year basis. During the same period last year, the firm earned $2.97 earnings per share. As a group, research analysts anticipate that Adobe Inc. will post 14.55 EPS for the current year.

Adobe announced that its Board of Directors has authorized a stock repurchase program on Thursday, March 14th that permits the company to repurchase $25.00 billion in shares. This repurchase authorization permits the software company to reacquire up to 10.8% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board 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.