Insider Trading : Fri 6/23/23

Notable purchases -- 10% owner adds to VERA; notable sales -- Chairman/CEO active in ADBE

Buyers:

• BRO Director bought 4,000 shares at $65.78 worth ~$263K.
• EGLE 10% owner bought 181,422 shares at $44.72 - $48.50 worth ~$8.6 mln.
• NVCT 10% owner bought 13,090 shares at $17.71 - $17.73 worth ~$232K.
• PEB Chairman / CEO bought 39,368 shares at $12.55 - $12.85 worth ~$503K.
• VERA 10% owner bought 448,217 shares at $14.89 - $15.1904 worth ~$6.8 mln.

Sellers:

• ADBE Chairman and CEO sold 35,000 shares at $475.12 - $480.93  worth ~$16.7 mln.
• AMC 10% owner Antara Capital sold 4,380,646 AMC Preferred Equity Units (APE)  at $1.66 - $1.92 worth ~$7.5 mln.
• BRT Executive Vice President sold 50,000 shares at ~$20.15 worth ~$1.0 mln.
• SJM Chair of Board, President & CEO sold 9,965 shares at $152.24 - $152.40 worth ~$1.5 mln.
• WRBY 10% owner Durable Capital sold 220,610 shares at $11.90 - $11.91 worth ~$2.6 mln.

Adobe (ADBE) reported earnings on Thur 16 Dec 21 (b/o)

 ** charts after earnings **

 

 

 

Adobe reports EPS in-line, revs in-line; guides Q1 EPS below consensus, revs below consensus; guides FY22 EPS below consensus, revs below consensus

• Reports Q4 (Nov) earnings of $3.20 per share, excluding non-recurring items, in-line with the S&P Capital IQ Consensus of $3.20; revenues rose 20.0% year/year to $4.11 bln vs the $4.09 bln S&P Capital IQ Consensus.
• Digital Media Annualized Recurring Revenue ("ARR") increased $571 million quarter over quarter to $12.24 billion exiting the quarter, including the addition of enterprise ARR of Frame.io, which closed on October 7, 2021.
• Creative ARR grew to $10.30 billion.
• Total enterprise ARR for Frame.io, including business closed by Adobe, exiting the quarter was approximately $29 million. Document Cloud ARR grew to $1.93 billion.
• Digital Experience segment revenue was $1.01 billion, representing 23 percent year-over-year growth. Digital Experience subscription revenue was $886 million, representing 27 percent year-over-year growth.
• Co issues downside guidance for Q1, sees EPS of $3.35, excluding non-recurring items, vs. $3.39 S&P Capital IQ Consensus; sees Q1 revs of $4.23 bln vs. $4.34 bln S&P Capital IQ Consensus.
• Co issues downside guidance for FY22, sees EPS of $13.70, excluding non-recurring items, vs. $14.24 S&P Capital IQ Consensus; sees FY22 revs of $17.9 bln vs. $18.16 bln S&P Capital IQ Consensus.

Earnings this week : Dec. 13 - 17, 21 (wk 50)

 

Wednesday (Dec 15)

• Morning:  ABM REVG TTC
• Afternoon:  HEI  LEN  NDSN TCOM

Thursday (Dec 16)

• Morning: ACN   ADBE JBL WOR
• Afternoon:  FDX NX SCS RIVN EXFY SCHL NOTV YCBD

Friday (Dec 17)  

• Morning:  DRI WGO GENC

=Adobe (ADBE) reported earnings on Thur 16 March 2017 (a/h)

• Adobe (ADBE) Beats Earnings and Revenue Estimates in Q1

Adobe Systems Inc. ADBE reported first-quarter fiscal 2017 earnings of 78 cents per share, beating the Zacks Consensus Estimate by 6 cents. Adjusted earnings per share exclude one-time items but include stock-based compensation expense.

Following strong fiscal first-quarter earnings, the share price was up 4% in the after-hours trading session.

Better-than-expected earnings were backed by strong demand for the company’s Creative Cloud software tools like Photoshop, which added more subscribers. Also, continued growth of Adobe Document Cloud subscriptions and strong bookings for Adobe Marketing Cloud aided the earnings growth.

Shares of Adobe have been steadily treading higher on a year-to-date basis. The stock returned 41.46% compared with the Zacks Computer Software industry’s gain of 19.78%.

Subscription comprised 82% of Adobe’s total fiscal first-quarter revenues, up 29.3% from the year-ago period. Products declined 8.8% year over year and contributed 11% to revenues, while Services & Support saw a 2.2% improvement and brought in the rest.

Revenues by Segment

Revenues from Digital Media Solutions jumped 22% year over year to $1.14 billion. TotalDigital Media ARR (Annualized Recurring Revenue) grew to $4.25 billion at the end of the fiscal first quarter, reflecting an increase of $265 million and indicating strong growth in the Creative Cloud and Document Cloud businesses.

The two major revenue contributors within the segment were Creative Cloud (CC) and Document Cloud (DC).

=====Adobe Systems (ADBE) reported Q2 earnings on Tue 21 June 2016 (a/h)

Q2 earnings: revenue beat, guidance miss

For the quarter that ended May, the San Jose, Calif.-based tech company reported a second-quarter net income of $244.1 million, or 48 cents per share. On an adjusted basis, when taking out one-time gains and costs, earnings came to 71 cents per share. Not only did that mark a 48% rise from the year-ago quarter, it beat Wall Street's estimates by 3 cents. (See also: Adobe Stock Declines Ahead of Q2 Earnings.)

The software maker posted fiscal second-quarter revenue of $1.4 billion, which matched Street forecasts and marked a year-over-year increase of 20.8%. During this quarter, the company reported that deferred revenue grew to $1.68 billion. Revenue was boosted by a 26% rise in the Digital Media segment, reaching a record $943 million, while Creative revenue grew 37% to a record $755 million.

"Adobe’s cloud solutions are powering digital transformation at the world’s biggest brands, educational institutions and government agencies," said CEO Shantanu Narayen in a statement. "Our record revenue reflects our market leadership and the exploding demand for digital experience solutions."

But the company's guidance failed to reflect the CEO's confidence, spooking investors. For the fiscal third-quarter, Adobe expects earnings per share (EPS) in the range of 69 cents to 79 cents, while revenue is seen in the range of $1.42 billion to $1.47 billion. Both ranges compare to consensus of 71 cents in EPS on $1.47 billion in revenue for the coming quarter.

Marketo (MKTO) acquired by Vista Equity Partners for $35.25 in per share

• Marketo (MKTO) acquired by private equity firm Vista Equity Partners for $1.79 billion. (June 2016)
• update 9/20/18 below

    

Vista will acquire all outstanding shares of Marketo common stock for a total value of approximately $1.79 billion. Marketo shareholders will receive $35.25 in cash per share, representing a 64% premium to the unaffected closing price as of May 9, 2016.

*****

9/20/18 
(Reuters) - Adobe Systems Inc (ADBE) on Thursday agreed to buy Marketo Inc for $4.75 billion from private equity firm Vista Equity Partners Management, adding heft to its cloud-based digital marketing business.

The acquisition comes as the Photoshop maker sharpens its focus on the fast-growing cloud business, a fiercely competitive market dominated by Microsoft Corp (MSFT), Oracle Corp (ORCL) and Salesforce (CRM).

Marketo's business-to-business marketing applications offering complements Adobe's digital marketing business, which provides cloud-based tools to help create, manage and analyze advertising and marketing campaigns.

Marketo, started in 2006 as an email marketing service, was taken private by Vista Equity Partners for $1.8 billion in 2016.

Adobe Systems (ADBE) reported earnings on Thur 17 March 2016 (a/h)

** charts before earnings **

** charts after earnings **

 Adobe Systems beats by $0.05, beats on revs; guides Q2 EPS in-line, revs in-line; guides FY16 EPS above consensus, revs above consensus :

• Reports Q1 (Feb) earnings of $0.66 per share, $0.05 better than the Capital IQ Consensus of $0.61; revenues rose 24.4% year/year to $1.38 bln vs the $1.34 bln Capital IQ Consensus.
  • Digital Media segment revenue grew by 33 percent year-over-year to a record $932 million, with Creative revenue growing 44 percent year-over-year to a record $733 million.
  • Strong Creative Cloud adoption drove Digital Media Annualized Recurring Revenue to $3.13 billion exiting the quarter, an increase of $246 million.
  • Adobe Marketing Cloud achieved strong bookings growth, and record revenue of $377 million that represents year-over-year growth of 21 percent.
• Co issues in-line guidance for Q2, sees EPS of $0.64-0.70, excluding non-recurring items, vs. $0.65 Capital IQ Consensus Estimate; sees Q2 revs of $1.365-1.415 bln vs. $1.39 bln Capital IQ Consensus Estimate.
• In Digital Media, we expect to add approximately $275 million of net new Digital Media ARR during Q2, with strong year-over-year Digital Media segment revenue growth.
• targeting approximately 17% year-over-year Adobe Marketing Cloud revenue growth in Q2, with continued momentum in bookings.
• Co issues upside guidance for FY16, sees EPS of approx $2.80 (Prior approx $2.70), excluding non-recurring items, vs. $2.76 Capital IQ Consensus Estimate; sees FY16 revs of Approx $5.8 bln vs. $5.74 bln Capital IQ Consensus Estimate.
  • Digital Media segment revenue growth of above 20% (Prior approx 20%)
  • Digital Media ARR approx $4.0 bln exiting 2016 (Prior approx $3.875 bln))
  • Marketing Cloud revenue growth of approx 20% (Reaffirm)
  • Marketing Cloud bookings growth of approx 30% *Reaffirm)
• Q3 Comments- in Q3 we expect a slight sequential increase in both total revenue and Digital Media ARR. We also expect Q3 Marketing Cloud revenue growth of less than 20% year-over-year due to the large amount of perpetual revenue in the year-ago quarter
• Q4 Comments- In Q4 we expect seasonally strong sequential growth in both total revenue and Digital Media ARR. And we expect Q4 Marketing Cloud revenue growth greater than 20% year-over-year.

Great trade : ADBE +20% (2/16)

daily - heikin

ADBE — is it a sell?

• $88.04 on 1/25/16

Yes, ADBE dropped to about $74 about 6 weeks later

Adobe Systems (ADBE) reported earnings on Thur 10 Dec 2015 (a/h)

** charts before earnings **

** charts after earnings **

Adobe Systems beats by $0.02, reports revs in-line; co has yet to guide :

• Reports Q4 (Nov) earnings of $0.62 per share, excluding non-recurring items,$0.02 better than the Capital IQ Consensus of $0.60; revenues rose 21.7% year/year to $1.31 bln vs the $1.3 bln Capital IQ Consensus. 
  • Digital Media Annualized Recurring Revenue grew to $2.99 billion exiting the quarter, an increase of $350 million.
  • Creative ARR grew to $2.60 billion, an increase of $310 million driven by enterprise adoption and the addition of 833 thousand net new individual and team Creative Cloud subscriptions.
  • Adobe Marketing Cloud achieved revenue of $352 million with strong bookings growth and a stronger-than-expected shift in customer adoption to SaaS-based solutions.
  • Year-over-year operating income grew 58% and net income grew 59% on a non-GAAP basis.

Adobe Systems (ADBE) reported earnings on Thur 17 Sept 2015

** charts before earnings **

** charts after earnings **
ADBE dropped at the open

then reversed and ended the day higher

 and continued higher for the next several days

Great trade : ADBE (8/15)

Great trade : ADBE (4/15)

Adobe Systems (ADBE) earnings on 12/11/14

charts BEFORE earnings

 

AFTER earnings

Strike	Price	Change	Bid	Ask

72.50

4.23

+3.37

4.20

4.50

• ADBE gapped above major resistance at the open and I believe this is the start of a significant uptrend, especially if the overall market turns bullish later this month. I'd consider keeping some powder dry for a second entry in the 72-74 area. Otherwise, I look for a target of 85-90 in the near-term.

Adobe Systems (ADBE) earnings on 9/16/14

charts after earnings

Adobe Systems (ADBE) earnings on Tue 6/19/12

 ** weekly **

Adobe offers a tepid third-quarter outlook, prompting shares to drop in after-hours trading.

The software company didn’t detail reasons for the outlook in its press release, though there have been concerns about recent Creative Suites upgrade cycle and fallout from the weak European economy.

More details are expected on the conference call, which will start shortly.

Adobe shares, down 4.7% during the past three months, fall another 4.7% to $31.35 in late trading.

Adobe is converting its business to subscriptions from a licensed software model. The company said it achieved better-than-expected success introducing its subscription plans in the quarter, “but the more successful you are at converting your business to subscriptions the more it hurts your near-term results,” said Pat Walravens, an analyst at JMP Securities.

Part of every subscription sale is booked to deferred revenue recognized in future quarters. Subscriptions pay off with a stronger future revenue stream, but in the meantime “transitions are tough,” said Walravens.

Adobe projects third-quarter earnings, excluding certain items, in a range of 56 cents to 61 cents, on revenue of $1.075 billion to $1.125 billion. On average, analysts projected EPS of 61 cents on revenue of $1.13 billion.

*** day after earnings ***

** 2 months later, ADBE still trading in the same range **