Andra AP fonden Buys 300 Shares of Adobe Inc. (NASDAQ:ADBE)

Andra AP fonden lifted its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 0.3% during the 4th quarter, HoldingsChannel reports. The firm owned 98,600 shares of the software company’s stock after acquiring an additional 300 shares during the period. Adobe comprises 0.7% of Andra AP fonden’s investment portfolio, making the stock its 23rd largest position. Andra AP fonden’s holdings in Adobe were worth $43,845,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Evergreen Private Wealth LLC boosted its position in Adobe by 3.2% during the 4th quarter. Evergreen Private Wealth LLC now owns 11,437 shares of the software company’s stock worth $5,086,000 after buying an additional 357 shares during the period. BBR Partners LLC boosted its position in Adobe by 26.0% during the 4th quarter. BBR Partners LLC now owns 786 shares of the software company’s stock worth $350,000 after buying an additional 162 shares during the period. Destination Wealth Management boosted its position in Adobe by 44.2% during the 4th quarter. Destination Wealth Management now owns 1,236 shares of the software company’s stock worth $550,000 after buying an additional 379 shares during the period. Barden Capital Management Inc. boosted its position in Adobe by 1.0% during the 4th quarter. Barden Capital Management Inc. now owns 5,969 shares of the software company’s stock worth $2,654,000 after buying an additional 60 shares during the period. Finally, Ashton Thomas Private Wealth LLC boosted its position in Adobe by 16.9% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 12,398 shares of the software company’s stock worth $5,513,000 after buying an additional 1,793 shares during the period. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Adobe

In other news, Director David A. Ricks bought 2,250 shares of Adobe stock in a transaction dated Tuesday, January 28th. The stock was purchased at an average price of $443.98 per share, for a total transaction of $998,955.00. Following the purchase, the director now directly owns 4,984 shares in the company, valued at $2,212,796.32. The trade was a 82.30 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Jillian Forusz sold 334 shares of the company’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total transaction of $145,567.22. Following the completion of the sale, the chief accounting officer now owns 2,685 shares of the company’s stock, valued at approximately $1,170,203.55. The trade was a 11.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,075 shares of company stock worth $2,191,826 in the last quarter. 0.15% of the stock is currently owned by corporate insiders.

Adobe Stock Performance

Shares of ADBE stock opened at $444.78 on Friday. The firm has a market capitalization of $193.61 billion, a PE ratio of 35.87, a price-to-earnings-growth ratio of 2.15 and a beta of 1.37. The firm has a fifty day simple moving average of $439.51 and a two-hundred day simple moving average of $488.46. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29. Adobe Inc. has a 12 month low of $403.75 and a 12 month high of $587.75.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, beating analysts’ consensus estimates of $4.67 by $0.14. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The business had revenue of $5.61 billion during the quarter, compared to analyst estimates of $5.54 billion. During the same quarter in the previous year, the business posted $3.52 EPS. Adobe’s quarterly revenue was up 11.1% on a year-over-year basis. Analysts forecast that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on ADBE shares. Sanford C. Bernstein dropped their price target on shares of Adobe from $644.00 to $587.00 and set an “outperform” rating on the stock in a research report on Thursday, December 12th. Barclays dropped their price target on shares of Adobe from $675.00 to $645.00 and set an “overweight” rating on the stock in a research report on Thursday, December 12th. DA Davidson dropped their price target on shares of Adobe from $685.00 to $625.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Wells Fargo & Company dropped their price target on shares of Adobe from $700.00 to $640.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Finally, TD Cowen downgraded shares of Adobe from a “buy” rating to a “hold” rating and dropped their price target for the stock from $625.00 to $550.00 in a research report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $570.88.

Adobe 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.