Adobe Inc. (NASDAQ:ADBE) Stock Holdings Boosted by Css LLC Il

Css LLC Il increased its position in Adobe Inc. (NASDAQ:ADBE) by 129.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 3,320 shares of the software company’s stock after acquiring an additional 1,870 shares during the period. Css LLC Il’s holdings in Adobe were worth $1,476,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of ADBE. Arizona State Retirement System raised its holdings 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 purchasing an additional 570 shares in the last quarter. Burling Wealth Partners LLC acquired a new position in shares of Adobe in the 4th quarter worth $1,173,000. Silicon Valley Capital Partners lifted its holdings in shares of Adobe by 4.1% during the fourth quarter. Silicon Valley Capital Partners now owns 5,972 shares of the software company’s stock valued at $2,656,000 after purchasing an additional 236 shares during the last quarter. Foundations Investment Advisors LLC boosted its position in shares of Adobe by 30.9% in the 4th quarter. Foundations Investment Advisors LLC now owns 36,009 shares of the software company’s stock valued at $16,012,000 after purchasing an additional 8,508 shares during the period. Finally, Horan Capital Advisors LLC. increased its stake in Adobe by 2.4% in the 4th quarter. Horan Capital Advisors LLC. now owns 4,861 shares of the software company’s stock worth $2,162,000 after purchasing an additional 114 shares in the last quarter. Institutional investors own 81.79% of the company’s stock.

Adobe Stock Performance

Shares of ADBE opened at $417.61 on Wednesday. The company has a market capitalization of $177.99 billion, a PE ratio of 33.68, a price-to-earnings-growth ratio of 2.15 and a beta of 1.55. 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 one year low of $332.01 and a one year high of $587.75. The company’s fifty day moving average price is $376.12 and its 200 day moving average price is $433.08.

Adobe (NASDAQ:ADBE) last posted 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 return on equity of 45.87% and a net margin of 25.85%. The business had revenue of $5.71 billion during the quarter, compared to analysts’ expectations of $5.66 billion. During the same quarter in the previous year, the firm earned $4.48 EPS. As a group, analysts expect that Adobe Inc. will post 16.65 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Stifel Nicolaus decreased their target price on shares of Adobe from $600.00 to $525.00 and set a “buy” rating for the company in a report on Thursday, March 13th. Royal Bank of Canada lowered their price objective on shares of Adobe from $530.00 to $480.00 and set an “outperform” rating on the stock in a research report on Monday, April 14th. Citigroup reduced their target price on Adobe from $551.00 to $490.00 and set a “neutral” rating for the company in a report on Monday, March 10th. Jefferies Financial Group lowered their price target on Adobe from $650.00 to $590.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Finally, UBS Group reduced their price objective on Adobe from $410.00 to $380.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Eleven equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $502.88.

Insider Activity

In related news, CFO Daniel Durn bought 1,300 shares of the company’s stock in a transaction that occurred on Thursday, March 20th. The shares were acquired at an average price of $390.58 per share, with a total value of $507,754.00. Following the completion of the transaction, the chief financial officer now owns 29,876 shares of the company’s stock, valued at $11,668,968.08. The trade was a 4.55% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.16% of the stock is owned by company insiders.

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.