Parkwood LLC acquired a new stake in Adobe Inc (NASDAQ:ADBE) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,421 shares of the software company’s stock, valued at approximately $321,000.
A number of other large investors have also added to or reduced their stakes in the stock. Oregon Public Employees Retirement Fund grew its stake in Adobe by 24,198.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 38,660,570 shares of the software company’s stock worth $171,000 after buying an additional 38,501,463 shares in the last quarter. Morgan Stanley boosted its stake in shares of Adobe by 41.6% in the 3rd quarter. Morgan Stanley now owns 4,858,611 shares of the software company’s stock valued at $1,311,581,000 after purchasing an additional 1,426,859 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Adobe by 50.9% in the 3rd quarter. AQR Capital Management LLC now owns 3,998,483 shares of the software company’s stock valued at $1,079,391,000 after purchasing an additional 1,349,015 shares in the last quarter. Edgewood Management LLC boosted its stake in shares of Adobe by 54.4% in the 3rd quarter. Edgewood Management LLC now owns 3,580,613 shares of the software company’s stock valued at $966,586,000 after purchasing an additional 1,261,201 shares in the last quarter. Finally, Rehmann Capital Advisory Group boosted its stake in shares of Adobe by 27,901.2% in the 3rd quarter. Rehmann Capital Advisory Group now owns 1,232,051 shares of the software company’s stock valued at $4,564,000 after purchasing an additional 1,227,651 shares in the last quarter. 83.74% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ ADBE opened at $257.76 on Friday. Adobe Inc has a 12-month low of $201.68 and a 12-month high of $277.61. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.13 and a quick ratio of 1.13. The firm has a market capitalization of $125.72 billion, a P/E ratio of 46.44, a price-to-earnings-growth ratio of 2.53 and a beta of 1.15.
Adobe (NASDAQ:ADBE) last posted its quarterly earnings results on Thursday, December 13th. The software company reported $1.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.88 by ($0.05). Adobe had a net margin of 28.69% and a return on equity of 31.19%. The business had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same period in the previous year, the business posted $1.26 EPS. The business’s revenue for the quarter was up 20.6% compared to the same quarter last year. On average, sell-side analysts expect that Adobe Inc will post 6.21 earnings per share for the current year.
A number of equities research analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Adobe from a “hold” rating to a “buy” rating and set a $286.00 price target on the stock in a research note on Thursday, December 6th. Cowen lowered shares of Adobe from an “outperform” rating to a “market perform” rating and set a $280.00 price objective for the company. in a report on Friday, February 15th. Pivotal Research reiterated a “hold” rating and issued a $252.00 price objective (down previously from $254.00) on shares of Adobe in a report on Friday, December 14th. ValuEngine upgraded shares of Adobe from a “hold” rating to a “buy” rating in a report on Tuesday, January 15th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $280.00 price objective on shares of Adobe in a report on Sunday, December 16th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and nineteen have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $284.44.
In other Adobe news, EVP Ann Lewnes sold 2,692 shares of Adobe stock in a transaction on Wednesday, December 19th. The shares were sold at an average price of $226.05, for a total transaction of $608,526.60. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Bradley Rencher sold 30,000 shares of Adobe stock in a transaction on Thursday, January 31st. The stock was sold at an average price of $246.46, for a total transaction of $7,393,800.00. Following the transaction, the executive vice president now directly owns 42,340 shares in the company, valued at $10,435,116.40. The disclosure for this sale can be found here. Insiders have sold a total of 282,344 shares of company stock worth $69,007,648 over the last ninety days. Insiders own 0.33% of the company’s stock.
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Adobe Inc operates as a diversified software company worldwide. Its Digital Media segment provides tools and solutions that enable individuals, small and medium businesses, and enterprises to create, publish, promote, and monetize their digital content. Its flagship product is Creative Cloud, a subscription service that allows customer to download and access the latest versions of its creative products.
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