Wisconsin Capital Management LLC Has $6.15 Million Stock Position in Adobe Inc. (NASDAQ:ADBE)

Wisconsin Capital Management LLC grew its position in shares of Adobe Inc. (NASDAQ:ADBE) by 1.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,309 shares of the software company’s stock after acquiring an additional 150 shares during the quarter. Adobe comprises 3.7% of Wisconsin Capital Management LLC’s holdings, making the stock its 8th largest holding. Wisconsin Capital Management LLC’s holdings in Adobe were worth $6,150,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of ADBE. Iron Horse Wealth Management LLC bought a new stake in Adobe during the third quarter worth $25,000. HBC Financial Services PLLC purchased a new position in Adobe in the third quarter worth $25,000. Global Wealth Strategies & Associates boosted its position in Adobe by 57.6% in the third quarter. Global Wealth Strategies & Associates now owns 52 shares of the software company’s stock worth $27,000 after purchasing an additional 19 shares during the last quarter. Wetzel Investment Advisors Inc. purchased a new position in Adobe in the fourth quarter worth $35,000. Finally, BluePath Capital Management LLC purchased a new position in Adobe in the third quarter worth $39,000. Institutional investors own 81.79% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Mark S. Garfield sold 97 shares of Adobe stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $468.41, for a total value of $45,435.77. Following the completion of the sale, the chief accounting officer now owns 4,128 shares of the company’s stock, valued at $1,933,596.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Anil Chakravarthy sold 100 shares of Adobe stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $471.00, for a total transaction of $47,100.00. Following the transaction, the insider now directly owns 33,609 shares in the company, valued at $15,829,839. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Mark S. Garfield sold 97 shares of Adobe stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $468.41, for a total value of $45,435.77. Following the transaction, the chief accounting officer now owns 4,128 shares in the company, valued at $1,933,596.48. The disclosure for this sale can be found here. In the last quarter, insiders sold 293 shares of company stock valued at $137,656. Corporate insiders own 0.15% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Mizuho reissued a “buy” rating and issued a $680.00 price objective on shares of Adobe in a research report on Wednesday, March 27th. HSBC cut their price objective on Adobe from $557.00 to $511.00 and set a “hold” rating on the stock in a research report on Friday, March 15th. Piper Sandler reissued an “overweight” rating and issued a $700.00 price objective on shares of Adobe in a research report on Wednesday, March 27th. KeyCorp started coverage on Adobe in a research report on Thursday, March 21st. They set an “underweight” rating and a $445.00 price target on the stock. Finally, BNP Paribas cut Adobe from a “neutral” rating to an “underperform” rating and set a $499.00 price target on the stock. in a research report on Thursday, January 18th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat.com, Adobe currently has an average rating of “Moderate Buy” and a consensus target price of $620.72.

Adobe Stock Down 0.8 %

ADBE stock traded down $3.68 on Thursday, reaching $473.44. 2,245,608 shares of the company traded hands, compared to its average volume of 3,510,927. Adobe Inc. has a one year low of $331.89 and a one year high of $638.25. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.05 and a quick ratio of 1.05. The company has a market cap of $212.10 billion, a P/E ratio of 45.26, a price-to-earnings-growth ratio of 2.56 and a beta of 1.28. The firm has a fifty day simple moving average of $516.72 and a 200-day simple moving average of $564.69.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings data 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 during the quarter, compared to analyst estimates of $5.14 billion. Adobe had a return on equity of 39.12% and a net margin of 24.08%. The firm’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same quarter last year, the company earned $2.97 EPS. Research analysts anticipate that Adobe Inc. will post 14.55 earnings per share for the current year.

Adobe declared that its Board of Directors has approved a stock buyback plan on Thursday, March 14th that allows the company to repurchase $25.00 billion in outstanding shares. This repurchase authorization allows the software company to purchase up to 10.8% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are 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.