Adobe Inc. (NASDAQ:ADBE) Shares Purchased by APG Asset Management N.V.

APG Asset Management N.V. raised its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 461.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 440,786 shares of the software company’s stock after buying an additional 362,304 shares during the quarter. APG Asset Management N.V.’s holdings in Adobe were worth $189,289,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of ADBE. Advisory Services Network LLC raised its position in shares of Adobe by 3.7% in the fourth quarter. Advisory Services Network LLC now owns 28,253 shares of the software company’s stock valued at $12,563,000 after buying an additional 999 shares during the last quarter. Applied Finance Capital Management LLC grew its stake in Adobe by 3.4% in the 4th quarter. Applied Finance Capital Management LLC now owns 120,970 shares of the software company’s stock worth $53,793,000 after acquiring an additional 3,959 shares during the period. Bernard Wealth Management Corp. acquired a new position in Adobe in the 4th quarter valued at $93,000. Abacus FCF Advisors LLC lifted its stake in shares of Adobe by 46.3% during the 4th quarter. Abacus FCF Advisors LLC now owns 19,212 shares of the software company’s stock worth $8,543,000 after purchasing an additional 6,076 shares during the period. Finally, FIL Ltd grew its position in shares of Adobe by 130.9% in the fourth quarter. FIL Ltd now owns 1,288,599 shares of the software company’s stock valued at $573,014,000 after purchasing an additional 730,520 shares during the period. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Insider Transactions at Adobe

In other Adobe news, EVP Scott Belsky sold 3,819 shares of the firm’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $430.24, for a total value of $1,643,086.56. Following the sale, the executive vice president now directly owns 18,334 shares in the company, valued at approximately $7,888,020.16. This trade represents a 17.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Daniel Durn acquired 1,300 shares of the company’s stock in a transaction that occurred on Thursday, March 20th. The stock was purchased at an average cost of $390.58 per share, for a total transaction 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 trade represents a 4.55 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 5,075 shares of company stock worth $2,191,826. 0.16% of the stock is currently owned by company insiders.

Adobe Stock Down 2.4 %

Shares of NASDAQ:ADBE opened at $340.70 on Tuesday. The company’s fifty day moving average is $423.70 and its two-hundred day moving average is $461.98. 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 1-year low of $332.01 and a 1-year high of $587.75. The stock has a market capitalization of $145.21 billion, a price-to-earnings ratio of 27.48, a price-to-earnings-growth ratio of 2.15 and a beta of 1.49.

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

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Bank of America reduced their target price on Adobe from $605.00 to $528.00 and set a “buy” rating on the stock in a research report on Thursday, March 13th. Robert W. Baird lowered their target price on shares of Adobe from $490.00 to $410.00 and set a “neutral” rating for the company in a report on Wednesday, March 19th. Barclays cut their price target on shares of Adobe from $675.00 to $645.00 and set an “overweight” rating on the stock in a research note on Thursday, December 12th. BMO Capital Markets lowered their price objective on shares of Adobe from $515.00 to $495.00 and set an “outperform” rating for the company in a research note on Thursday, March 13th. Finally, JPMorgan Chase & Co. reduced their target price on Adobe from $580.00 to $540.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Eleven equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $531.54.

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.