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

NBW Capital LLC has made a significant investment in Adobe Inc. (NASDAQ:ADBE) during the fourth quarter, as reported in their latest filing with the Securities and Exchange Commission (SEC). The firm acquired a total of 3,295 shares of Adobe's stock, with a total value of around $1,465,000.

Adobe continues to attract interest from various institutional investors. For instance, Legacy Investment Solutions LLC established a new stake valued at $26,000 in shares of Adobe during the third quarter. Additionally, MidAtlantic Capital Management Inc. purchased shares worth $30,000, while True Wealth Design LLC increased its shareholdings by 141.7%, ultimately owning 58 shares valued at $30,000. Briaud Financial Planning Inc. also entered Adobe's stock with a new investment of $36,000. Furthermore, Decker Retirement Planning Inc. made a new investment worth $31,000 during the fourth quarter. Notably, institutional investors collectively hold approximately 81.79% of Adobe's stock.

Adobe Stock Performance

As of Tuesday, NASDAQ ADBE opened at $440.72. Adobe has a debt-to-equity ratio of 0.29 and both its current ratio and quick ratio stand at 1.07. The company boasts a market capitalization of $191.85 billion, with a price-to-earnings (PE) ratio of 35.54 and a price-to-earnings growth (PEG) ratio of 2.15. Adobe's stock has experienced a 1-year low of $403.75 and a 1-year high of $587.75, demonstrating its volatility. The 50-day and 200-day moving averages for the stock are $439.59 and $489.79, respectively.

Recent Earnings Results

Adobe reported its quarterly earnings on December 11, exceeding expectations. The company posted earnings per share (EPS) of $4.81, surpassing the consensus estimate of $4.67 by $0.14. Revenue for the quarter reached $5.61 billion, exceeding analyst expectations of $5.54 billion. Adobe also achieved a return on equity of 45.87% and reported a net margin of 25.85%. Year-over-year, the company's revenue saw an increase of 11.1%. Analysts predict that Adobe will report a total EPS of 16.65 for the current fiscal year.

Analyst Recommendations

Recently, Adobe has been the subject of multiple analyst evaluations. JMP Securities kept a "market perform" rating on the shares. Barclays revised their price target from $675.00 to $645.00, maintaining an "overweight" rating. Similarly, UBS Group adjusted their target from $525.00 to $475.00 while giving a "neutral" rating, and Piper Sandler lowered their price target from $635.00 to $600.00, still rating the stock as "overweight." Mizuho also cut their price target from $640.00 to $620.00 while issuing an "outperform" rating. Of the analysts, one holds a sell rating, eleven favor a hold rating, seventeen encourage buying, and one analyst has given a strong buy rating. Presently, Adobe maintains an average rating of "Moderate Buy" with a consensus price target of $570.88.

Recent Insider Transactions

In terms of insider trading, Scott Belsky, Adobe's Executive Vice President, sold 3,819 shares on January 27, receiving approximately $1,643,086.56 at an average price of $430.24. Following this transaction, Belsky holds 18,334 shares valued at nearly $7,888,020.16. Additionally, CAO Jillian Forusz sold 334 shares on January 28 for around $145,567.22 at an average price of $435.83, reducing her holdings by 11.06% to 2,685 shares, valued at about $1,170,203.55. Over the last three months, insiders have sold 5,681 of the company's shares, totaling approximately $2,525,126. Presently, corporate insiders own about 0.15% of Adobe's stock.

About Adobe Inc.

Adobe Inc. operates globally as a diversified software company through three main segments: Digital Media, Digital Experience, and Publishing and Advertising. The Digital Media segment provides tools and services that assist individuals and organizations in creating, publishing, and promoting content. Adobe also offers Document Cloud, a comprehensive platform for document services.

Investment, Adobe, Finance