Lingohr Asset Management GmbH Buys Shares of 760 Adobe Inc. (NASDAQ:ADBE)

Lingohr Asset Management GmbH bought a new stake in Adobe Inc. (NASDAQ:ADBE) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 760 shares of the software company’s stock, valued at approximately $339,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ADBE. Nordea Investment Management AB lifted its position in shares of Adobe by 2.0% in the 4th quarter. Nordea Investment Management AB now owns 1,712,616 shares of the software company’s stock worth $765,094,000 after acquiring an additional 33,414 shares during the period. Arizona State Retirement System lifted its position in shares of Adobe by 0.4% in the 4th quarter. Arizona State Retirement System now owns 127,696 shares of the software company’s stock worth $56,784,000 after acquiring an additional 570 shares during the period. Public Sector Pension Investment Board lifted its position in shares of Adobe by 12.2% in the 3rd quarter. Public Sector Pension Investment Board now owns 19,322 shares of the software company’s stock worth $10,005,000 after acquiring an additional 2,100 shares during the period. Jacobs Levy Equity Management Inc. lifted its position in shares of Adobe by 201.0% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 117,383 shares of the software company’s stock worth $60,779,000 after acquiring an additional 78,384 shares during the period. Finally, Morse Asset Management Inc lifted its position in shares of Adobe by 33.0% in the 3rd quarter. Morse Asset Management Inc now owns 8,519 shares of the software company’s stock worth $4,411,000 after acquiring an additional 2,113 shares during the period. Institutional investors and hedge funds own 81.79% of the company’s stock.

Adobe Stock Down 0.9 %

NASDAQ ADBE opened at $387.89 on Thursday. The stock has a fifty day moving average of $435.13 and a 200-day moving average of $478.38. The stock has a market capitalization of $168.89 billion, a P/E ratio of 31.28, a price-to-earnings-growth ratio of 2.15 and a beta of 1.37. Adobe Inc. has a 52 week low of $374.50 and a 52 week high of $587.75. 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 (NASDAQ:ADBE) last released its earnings results on Wednesday, March 12th. The software company reported $5.08 EPS for the quarter, beating the consensus estimate of $4.97 by $0.11. The company had revenue of $5.71 billion during the quarter, compared to analysts’ expectations of $5.66 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. During the same period last year, the firm earned $4.48 EPS. On average, equities research analysts forecast that Adobe Inc. will post 16.65 EPS for the current year.

Insider Buying and Selling

In related news, CAO Jillian Forusz sold 334 shares of Adobe 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 directly owns 2,685 shares of the company’s stock, valued at $1,170,203.55. The trade was a 11.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director David A. Ricks acquired 2,250 shares of the firm’s stock in a transaction that occurred on Tuesday, January 28th. The shares were bought at an average cost of $443.98 per share, with a total value of $998,955.00. Following the completion of the purchase, the director now owns 4,984 shares of the company’s stock, valued at $2,212,796.32. This trade represents a 82.30 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 5,075 shares of company stock valued at $2,191,826 over the last three months. Company insiders own 0.16% of the company’s stock.

Wall Street Analyst Weigh In

ADBE has been the subject of a number of research reports. Redburn Atlantic initiated coverage on Adobe in a research report on Wednesday, February 19th. They issued a “neutral” rating for the company. Sanford C. Bernstein cut their target price on Adobe from $644.00 to $587.00 and set an “outperform” rating for the company in a research report on Thursday, December 12th. UBS Group set a $495.00 target price on Adobe in a research report on Thursday, March 13th. Wells Fargo & Company cut their target price on Adobe from $640.00 to $600.00 and set an “overweight” rating for the company in a research report on Friday, March 7th. Finally, BNP Paribas upgraded Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 target price for the company in a research report on Wednesday, January 15th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $538.80.

Adobe Company 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.