V Square Quantitative Management LLC Grows Stake in Adobe Inc. (NASDAQ:ADBE)

V Square Quantitative Management LLC raised its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 3.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,501 shares of the software company’s stock after buying an additional 396 shares during the period. Adobe comprises approximately 0.7% of V Square Quantitative Management LLC’s investment portfolio, making the stock its 18th biggest position. V Square Quantitative Management LLC’s holdings in Adobe were worth $5,114,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. CX Institutional raised its stake in Adobe by 4.2% in the third quarter. CX Institutional now owns 2,298 shares of the software company’s stock worth $1,190,000 after buying an additional 93 shares in the last quarter. Creative Planning raised its stake in Adobe by 34.9% in the third quarter. Creative Planning now owns 165,167 shares of the software company’s stock worth $84,750,000 after buying an additional 42,736 shares in the last quarter. Swedbank AB raised its stake in Adobe by 0.3% in the third quarter. Swedbank AB now owns 1,196,175 shares of the software company’s stock worth $619,355,000 after buying an additional 3,739 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd raised its stake in Adobe by 5.7% in the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 1,645 shares of the software company’s stock worth $852,000 after buying an additional 88 shares in the last quarter. Finally, Wolff Wiese Magana LLC raised its stake in Adobe by 3.0% in the third quarter. Wolff Wiese Magana LLC now owns 1,155 shares of the software company’s stock worth $598,000 after buying an additional 34 shares in the last quarter. Institutional investors own 81.79% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Jillian Forusz sold 334 shares of the firm’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total transaction of $145,567.22. Following the sale, the chief accounting officer now directly owns 2,685 shares in the company, valued at $1,170,203.55. This trade represents a 11.06 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Amy Banse sold 606 shares of the firm’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $550.00, for a total value of $333,300.00. Following the sale, the director now owns 32,929 shares in the company, valued at $18,110,950. This trade represents a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,681 shares of company stock valued at $2,525,126. Company insiders own 0.15% of the company’s stock.

Adobe Price Performance

Shares of ADBE opened at $459.22 on Friday. The business’s 50-day moving average is $449.99 and its two-hundred day moving average is $497.68. The company has a market capitalization of $199.90 billion, a P/E ratio of 37.03, a P/E/G ratio of 2.11 and a beta of 1.31. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07. Adobe Inc. has a fifty-two week low of $403.75 and a fifty-two week high of $610.33.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share for the quarter, topping the consensus estimate of $4.67 by $0.14. The company had revenue of $5.61 billion for the quarter, compared to the consensus estimate of $5.54 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period last year, the firm earned $3.52 EPS. Research analysts predict that Adobe Inc. will post 16.65 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on ADBE. BMO Capital Markets reduced their price objective on shares of Adobe from $600.00 to $570.00 and set an “outperform” rating for the company in a research note on Thursday, December 12th. Jefferies Financial Group decreased their price objective on Adobe from $700.00 to $650.00 and set a “buy” rating for the company in a report on Thursday, December 12th. BNP Paribas upgraded Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 price objective for the company in a report on Wednesday, January 15th. Royal Bank of Canada reiterated an “outperform” rating and set a $590.00 price objective on shares of Adobe in a report on Thursday. Finally, Wells Fargo & Company decreased their price objective on Adobe from $700.00 to $640.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $573.00.

About Adobe

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.