Two Sigma Investments LP Acquires 254,869 Shares of Adobe Inc. (NASDAQ:ADBE)

Two Sigma Investments LP raised its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 128.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 452,880 shares of the software company’s stock after acquiring an additional 254,869 shares during the period. Two Sigma Investments LP’s holdings in Adobe were worth $201,387,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Summit Securities Group LLC bought a new stake in Adobe in the fourth quarter valued at approximately $31,000. Caitlin John LLC boosted its position in shares of Adobe by 171.4% during the fourth quarter. Caitlin John LLC now owns 76 shares of the software company’s stock worth $34,000 after purchasing an additional 48 shares in the last quarter. Mascoma Wealth Management LLC grew its holdings in shares of Adobe by 142.9% in the 4th quarter. Mascoma Wealth Management LLC now owns 85 shares of the software company’s stock valued at $38,000 after buying an additional 50 shares during the period. LFA Lugano Financial Advisors SA bought a new stake in shares of Adobe in the 4th quarter valued at $38,000. Finally, Avion Wealth increased its position in shares of Adobe by 112.2% in the 4th quarter. Avion Wealth now owns 87 shares of the software company’s stock valued at $38,000 after buying an additional 46 shares in the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Adobe Stock Up 3.1%

ADBE stock opened at $417.13 on Monday. The company has a market cap of $177.78 billion, a price-to-earnings ratio of 33.64, a P/E/G ratio of 2.15 and a beta of 1.55. Adobe Inc. has a twelve month low of $332.01 and a twelve month high of $587.75. The business has a 50 day moving average price of $375.68 and a two-hundred day moving average price of $433.63. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29.

Adobe (NASDAQ:ADBE) last released its earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share for the quarter, beating the consensus estimate of $4.97 by $0.11. The business had revenue of $5.71 billion during the quarter, compared to analysts’ expectations of $5.66 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. During the same period last year, the business earned $4.48 earnings per share. Analysts anticipate that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ADBE has been the topic of several recent analyst reports. UBS Group reduced their target price on Adobe from $410.00 to $380.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Jefferies Financial Group dropped their price target on Adobe from $650.00 to $590.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. Wells Fargo & Company decreased their price objective on Adobe from $600.00 to $430.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. Mizuho dropped their target price on shares of Adobe from $620.00 to $575.00 and set an “outperform” rating on the stock in a report on Thursday, March 13th. Finally, DA Davidson cut their price target on shares of Adobe from $600.00 to $450.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Eleven research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $502.88.

Insider Buying and Selling at Adobe

In other Adobe news, CFO Daniel Durn acquired 1,300 shares of the company’s stock in a transaction 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 completion of the purchase, the chief financial officer now directly owns 29,876 shares of the company’s stock, valued at approximately $11,668,968.08. This represents a 4.55% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.16% of the company’s stock.

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.