Raiffeisen Bank International AG Buys New Position in Adobe Inc. (NASDAQ:ADBE)

Raiffeisen Bank International AG bought a new stake in shares of Adobe Inc. (NASDAQ:ADBE) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 64,813 shares of the software company’s stock, valued at approximately $28,893,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ADBE. Redwood Financial Network Corp increased its stake in shares of Adobe by 7.5% during the fourth quarter. Redwood Financial Network Corp now owns 548 shares of the software company’s stock valued at $243,000 after acquiring an additional 38 shares during the period. Point72 Europe London LLP acquired a new position in shares of Adobe during the 4th quarter valued at $4,772,000. Polar Asset Management Partners Inc. bought a new stake in shares of Adobe in the 4th quarter worth $35,574,000. ProShare Advisors LLC lifted its holdings in shares of Adobe by 18.8% in the fourth quarter. ProShare Advisors LLC now owns 591,711 shares of the software company’s stock valued at $263,122,000 after buying an additional 93,841 shares during the period. Finally, Quantinno Capital Management LP boosted its stake in Adobe by 12.7% during the fourth quarter. Quantinno Capital Management LP now owns 49,432 shares of the software company’s stock valued at $21,982,000 after buying an additional 5,589 shares in the last quarter. 81.79% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on ADBE shares. Morgan Stanley cut their price target on shares of Adobe from $600.00 to $510.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. Bank of America decreased their price target on shares of Adobe from $605.00 to $528.00 and set a “buy” rating on the stock in a research report on Thursday, March 13th. DA Davidson reduced their price objective on Adobe from $600.00 to $450.00 and set a “buy” rating for the company in a research note on Monday, April 14th. UBS Group reduced their target price on Adobe from $410.00 to $380.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Finally, Robert W. Baird dropped their price target on Adobe from $490.00 to $410.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 19th. Eleven equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $502.88.

Insider Transactions at Adobe

In other 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 purchased at an average price of $390.58 per share, for a total transaction of $507,754.00. Following the acquisition, the chief financial officer now directly 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 purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.16% of the stock is owned by corporate insiders.

Adobe Price Performance

NASDAQ ADBE opened at $399.47 on Thursday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $170.25 billion, a PE ratio of 32.22, a price-to-earnings-growth ratio of 2.15 and a beta of 1.55. Adobe Inc. has a 12-month low of $332.01 and a 12-month high of $587.75. The company has a 50 day moving average price of $376.62 and a two-hundred day moving average price of $435.30.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data on Wednesday, March 12th. The software company reported $5.08 earnings per share (EPS) for the quarter, beating 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 business had revenue of $5.71 billion during the quarter, compared to analyst estimates of $5.66 billion. During the same quarter in the previous year, the business earned $4.48 EPS. As a group, equities analysts predict that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

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.