UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Raises Stake in Adobe Inc. (NASDAQ:ADBE)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 12.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,341,695 shares of the software company’s stock after buying an additional 600,146 shares during the period. Adobe comprises about 0.6% of UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings, making the stock its 23rd biggest position. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Adobe were worth $2,375,345,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Siemens Fonds Invest GmbH grew its stake in shares of Adobe by 252.9% during the 4th quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company’s stock worth $25,000 after acquiring an additional 39,888 shares during the period. Summit Securities Group LLC bought a new stake in shares of Adobe in the fourth quarter valued at approximately $31,000. Caitlin John LLC lifted its stake in shares of Adobe by 171.4% during the 4th quarter. Caitlin John LLC now owns 76 shares of the software company’s stock valued at $34,000 after buying an additional 48 shares in the last quarter. Avion Wealth boosted its holdings in Adobe by 112.2% in the 4th quarter. Avion Wealth now owns 87 shares of the software company’s stock worth $38,000 after buying an additional 46 shares during the period. Finally, Mascoma Wealth Management LLC grew its stake in 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 in the last quarter. Institutional investors own 81.79% of the company’s stock.

Adobe Stock Up 0.9%

Adobe stock opened at $420.68 on Tuesday. The stock has a market cap of $179.29 billion, a PE ratio of 33.93, a P/E/G 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. The stock’s fifty day moving average is $375.32 and its two-hundred day moving average is $433.19. Adobe Inc. has a 1-year low of $332.01 and a 1-year high of $587.75.

Adobe (NASDAQ:ADBE) last issued its earnings results 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. The business had revenue of $5.71 billion for the quarter, compared to analyst estimates of $5.66 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. During the same quarter last year, the company earned $4.48 EPS. On average, sell-side analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. DA Davidson lowered their price target on shares of Adobe from $600.00 to $450.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Citigroup dropped their price objective on shares of Adobe from $551.00 to $490.00 and set a “neutral” rating for the company in a report on Monday, March 10th. Robert W. Baird dropped their target price on Adobe from $490.00 to $410.00 and set a “neutral” rating for the company in a research report on Wednesday, March 19th. 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 research report on Wednesday, April 16th. Finally, Jefferies Financial Group decreased their price objective on Adobe from $650.00 to $590.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Eleven equities 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’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $502.88.

Insider Transactions at Adobe

In other news, CFO Daniel Durn purchased 1,300 shares of the business’s stock in a transaction on Thursday, March 20th. The shares were bought 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 directly owns 29,876 shares in the company, valued at approximately $11,668,968.08. This represents a 4.55% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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.