Machina Capital S.A.S. Purchases 2,618 Shares of Adobe Inc. (NASDAQ:ADBE)

Machina Capital S.A.S. boosted its position in Adobe Inc. (NASDAQ:ADBE) by 278.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,558 shares of the software company’s stock after acquiring an additional 2,618 shares during the quarter. Machina Capital S.A.S.’s holdings in Adobe were worth $1,582,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in ADBE. Proficio Capital Partners LLC increased its stake in Adobe by 82,528.8% in the fourth quarter. Proficio Capital Partners LLC now owns 1,042,775 shares of the software company’s stock valued at $463,701,000 after acquiring an additional 1,041,513 shares during the last quarter. FMR LLC grew its stake in shares of Adobe by 8.8% during the third quarter. FMR LLC now owns 9,690,163 shares of the software company’s stock worth $5,017,373,000 after buying an additional 787,356 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Adobe during the fourth quarter worth $243,827,000. Assenagon Asset Management S.A. grew its stake in shares of Adobe by 42.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,168,584 shares of the software company’s stock worth $519,646,000 after buying an additional 347,536 shares during the last quarter. Finally, Seilern Investment Management Ltd bought a new stake in shares of Adobe during the fourth quarter worth $110,744,000. 81.79% of the stock is owned by institutional investors.

Insider Transactions at Adobe

In related news, EVP Scott Belsky sold 3,819 shares of the firm’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $430.24, for a total value of $1,643,086.56. Following the transaction, the executive vice president now owns 18,334 shares of the company’s stock, valued at approximately $7,888,020.16. This trade represents a 17.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Jillian Forusz sold 334 shares of the firm’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $435.83, for a total transaction of $145,567.22. Following the completion of the transaction, the chief accounting officer now directly owns 2,685 shares in the company, 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 have sold 5,075 shares of company stock valued at $2,191,826 in the last 90 days. 0.15% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ADBE. StockNews.com cut shares of Adobe from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Jefferies Financial Group decreased their target price on shares of Adobe from $700.00 to $650.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. UBS Group decreased their target price on shares of Adobe from $525.00 to $475.00 and set a “neutral” rating on the stock in a research note on Friday, January 3rd. Oppenheimer reduced their price objective on shares of Adobe from $625.00 to $600.00 and set an “outperform” rating on the stock in a research note on Thursday, December 12th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $475.00 price objective (down previously from $600.00) on shares of Adobe in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Adobe currently has an average rating of “Moderate Buy” and an average price target of $567.81.

Adobe Price Performance

ADBE stock opened at $449.40 on Friday. The stock has a market capitalization of $195.62 billion, a PE ratio of 36.24, a price-to-earnings-growth ratio of 2.15 and a beta of 1.37. The company’s 50-day moving average is $439.56 and its 200-day moving average is $487.67. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. Adobe Inc. has a 1 year low of $403.75 and a 1 year high of $587.75.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Wednesday, December 11th. The software company reported $4.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.67 by $0.14. The company had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.54 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The business’s revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.52 EPS. Equities research analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

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.