Adobe Inc. (NASDAQ:ADBE) Stock Position Raised by Vanguard Group Inc.

Vanguard Group Inc. grew its position in Adobe Inc. (NASDAQ:ADBE) by 0.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 40,972,288 shares of the software company’s stock after buying an additional 9,312 shares during the period. Vanguard Group Inc. owned approximately 0.09% of Adobe worth $18,219,557,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of ADBE. Proficio Capital Partners LLC grew its position in Adobe by 82,528.8% in the 4th quarter. Proficio Capital Partners LLC now owns 1,042,775 shares of the software company’s stock worth $463,701,000 after purchasing an additional 1,041,513 shares during the last quarter. FMR LLC grew its position in Adobe by 8.8% in the 3rd quarter. FMR LLC now owns 9,690,163 shares of the software company’s stock worth $5,017,373,000 after purchasing an additional 787,356 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Adobe in the 4th quarter worth approximately $243,827,000. Assenagon Asset Management S.A. lifted its stake in shares of Adobe by 42.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,168,584 shares of the software company’s stock worth $519,646,000 after acquiring an additional 347,536 shares during the period. Finally, Seilern Investment Management Ltd acquired a new stake in shares of Adobe in the 4th quarter worth approximately $110,744,000. Institutional investors own 81.79% of the company’s stock.

Adobe Stock Performance

Shares of ADBE opened at $387.26 on Friday. The company’s fifty day moving average is $434.16 and its 200-day moving average is $475.80. Adobe Inc. has a 12 month low of $374.50 and a 12 month high of $587.75. The firm has a market cap of $168.62 billion, a price-to-earnings ratio of 31.23, a price-to-earnings-growth ratio of 2.15 and a beta of 1.37. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Wednesday, March 12th. The software company reported $5.08 EPS for the quarter, topping the consensus estimate of $4.97 by $0.11. The company had revenue of $5.71 billion for the quarter, compared to analyst estimates of $5.66 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. During the same quarter in the prior year, the business posted $4.48 EPS. Equities analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Analysts Set New Price Targets

ADBE has been the subject of a number of research analyst reports. Morgan Stanley reduced their price target on shares of Adobe from $660.00 to $600.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Citigroup reduced their price target on shares of Adobe from $551.00 to $490.00 and set a “neutral” rating for the company in a research note on Monday, March 10th. JPMorgan Chase & Co. reduced their price target on shares of Adobe from $580.00 to $540.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Jefferies Financial Group reduced their price target on shares of Adobe from $700.00 to $650.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. Finally, TD Cowen lowered shares of Adobe from a “buy” rating to a “hold” rating and cut their target price for the company from $625.00 to $550.00 in a research note on Thursday, December 12th. Eleven investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $538.80.

Insider Buying and Selling

In other news, CFO Daniel Durn acquired 1,300 shares of the firm’s stock in a transaction that occurred on Thursday, March 20th. The stock was acquired at an average cost of $390.58 per share, with a total value of $507,754.00. Following the acquisition, the chief financial officer now owns 29,876 shares in the company, valued at approximately $11,668,968.08. This represents a 4.55 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Scott Belsky sold 3,819 shares of the company’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $430.24, for a total transaction of $1,643,086.56. Following the sale, the executive vice president now directly owns 18,334 shares of the company’s stock, valued at approximately $7,888,020.16. This represents a 17.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 5,075 shares of company stock valued at $2,191,826. Company insiders own 0.16% of the company’s stock.

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.