Biltmore Family Office LLC, a financial firm, has increased its investment in Adobe Inc. by 7.6% in the fourth quarter, according to recent reports filed with the SEC. The firm now holds 752 shares of Adobe, valued at $449,000. Other hedge funds have also made changes to their holdings in Adobe, including Barlow Wealth Partners Inc., Federated Hermes Inc., Mainsail Financial Group LLC, Vise Technologies Inc., and Naviter Wealth LLC.
In insider news, Anil Chakravarthy, an insider at Adobe, recently sold 100 shares of the company’s stock. Additionally, CAO Mark S. Garfield sold 97 shares. Over the last 90 days, insiders at Adobe have sold a total of 3,006 shares of company stock. Adobe’s stock performance showed a decrease of 0.6% on the market.
Adobe, listed on NASDAQ as ADBE, reported earnings results on March 14th, with earnings per share exceeding analysts’ expectations. The company had revenue of $5.18 billion for the quarter. The board of Adobe announced a stock buyback program of $25.00 billion, indicating confidence in the company’s value.
Analysts have varied ratings on Adobe, with some downgrading the stock while others maintaining a positive outlook. StockNews.com changed their rating to “hold,” while other analysts adjusted their target prices for Adobe’s stock.
Adobe Inc. operates as a software company globally, offering solutions for digital media, digital experience, and publishing and advertising. The company’s segments cater to individuals, teams, and enterprises in content creation, publishing, and promotion. Investors can track Adobe’s performance through various financial reports and filings available online.
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