Mn Services Vermogensbeheer B.V. Acquires 3,600 Shares of Adobe Inc. (NASDAQ:ADBE)

Mn Services Vermogensbeheer B.V. boosted its holdings in Adobe Inc. (NASDAQ:ADBE) by 2.1% during the fourth quarter, Holdings Channel reports. The fund owned 178,474 shares of the software company’s stock after purchasing an additional 3,600 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Adobe were worth $79,364,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in ADBE. Connable Office Inc. raised its stake in Adobe by 0.5% during the third quarter. Connable Office Inc. now owns 3,732 shares of the software company’s stock worth $1,932,000 after buying an additional 20 shares during the last quarter. 1ST Source Bank raised its position in shares of Adobe by 0.7% in the 3rd quarter. 1ST Source Bank now owns 2,889 shares of the software company’s stock worth $1,496,000 after acquiring an additional 20 shares in the last quarter. James J. Burns & Company LLC lifted its stake in shares of Adobe by 5.6% in the 3rd quarter. James J. Burns & Company LLC now owns 415 shares of the software company’s stock valued at $215,000 after purchasing an additional 22 shares during the period. Holistic Financial Partners boosted its position in shares of Adobe by 6.0% during the 3rd quarter. Holistic Financial Partners now owns 387 shares of the software company’s stock valued at $200,000 after purchasing an additional 22 shares in the last quarter. Finally, Latitude Advisors LLC grew its stake in Adobe by 4.3% during the third quarter. Latitude Advisors LLC now owns 555 shares of the software company’s stock worth $287,000 after purchasing an additional 23 shares during the period. Institutional investors and hedge funds own 81.79% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Sanford C. Bernstein cut their price target on Adobe from $644.00 to $587.00 and set an “outperform” rating on the stock in a report on Thursday, December 12th. Barclays reduced their price target on shares of Adobe from $675.00 to $645.00 and set an “overweight” rating for the company in a report on Thursday, December 12th. JMP Securities reiterated a “market perform” rating on shares of Adobe in a report on Thursday, December 12th. Jefferies Financial Group reduced their target price on Adobe from $700.00 to $650.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. Finally, DA Davidson dropped their price target on Adobe from $685.00 to $625.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $570.88.

Adobe Stock Performance

Shares of ADBE stock opened at $441.50 on Thursday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07. The firm has a market cap of $192.18 billion, a price-to-earnings ratio of 35.60, a P/E/G ratio of 2.15 and a beta of 1.31. Adobe Inc. has a 52 week low of $403.75 and a 52 week high of $587.75. The firm’s 50-day simple moving average is $439.88 and its two-hundred day simple moving average is $492.27.

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

Insider Activity

In related news, Director Amy Banse sold 606 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $550.00, for a total transaction of $333,300.00. Following the sale, the director now directly owns 32,929 shares in the company, valued at approximately $18,110,950. This represents a 1.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director David A. Ricks acquired 2,250 shares of Adobe stock in a transaction that occurred on Tuesday, January 28th. The stock was acquired at an average price of $443.98 per share, with a total value of $998,955.00. Following the completion of the purchase, the director now directly owns 4,984 shares in the company, valued at $2,212,796.32. This represents a 82.30 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 5,681 shares of company stock valued at $2,525,126 in the last 90 days. Insiders own 0.15% of the company’s stock.

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.