Adobe Inc. (NASDAQ:ADBE) Shares Acquired by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. boosted its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 8.0% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 496,578 shares of the software company's stock after buying an additional 36,600 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 0.11% of Adobe worth $220,818,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Virtu Financial LLC acquired a new position in Adobe during the 3rd quarter valued at about $4,167,000. Morse Asset Management Inc increased its holdings in Adobe by 32.6% in the third quarter. Morse Asset Management Inc now owns 8,494 shares of the software company's stock worth $4,398,000 after buying an additional 2,088 shares during the last quarter. Te Ahumairangi Investment Management Ltd raised its holdings in shares of Adobe by 12.9% during the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 4,455 shares of the software company's stock valued at $2,294,000 after purchasing an additional 510 shares in the last quarter. Anchor Investment Management LLC increased its holdings in shares of Adobe by 1.6% during the 3rd quarter. Anchor Investment Management LLC now owns 16,261 shares of the software company's stock valued at $8,420,000 after acquiring an additional 255 shares during the last quarter. Finally, Pine Valley Investments Ltd Liability Co raised its position in shares of Adobe by 13.7% in the third quarter. Pine Valley Investments Ltd Liability Co now owns 25,432 shares of the software company's stock valued at $13,168,000 after purchasing an additional 3,071 shares during the period. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Morgan Stanley reduced their price objective 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. Royal Bank of Canada cut their price target on shares of Adobe from $530.00 to $480.00 and set an "outperform" rating on the stock in a research report on Monday, April 14th. DA Davidson decreased their price objective on Adobe from $600.00 to $450.00 and set a "buy" rating for the company in a report on Monday, April 14th. Robert W. Baird dropped their target price on Adobe from $490.00 to $410.00 and set a "neutral" rating on the stock in a report on Wednesday, March 19th. Finally, Jefferies Financial Group decreased their target price 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 issued a strong buy rating to the company. According to data from MarketBeat, Adobe currently has an average rating of "Moderate Buy" and a consensus price target of $502.88.

Adobe Stock Performance

ADBE traded down $1.50 during mid-day trading on Monday, reaching $366.22. 1,870,716 shares of the company traded hands, compared to its average volume of 3,955,679. The company's fifty day moving average price is $392.89 and its 200-day moving average price is $444.67. The stock has a market capitalization of $156.08 billion, a P/E ratio of 29.53, a P/E/G ratio of 2.15 and a beta of 1.49. 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 Inc. has a 52-week low of $332.01 and a 52-week high of $587.75.

Adobe (NASDAQ:ADBE - Get Free Report) last issued its quarterly earnings data 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. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The firm had revenue of $5.71 billion for the quarter, compared to analysts' expectations of $5.66 billion. During the same quarter in the prior year, the business earned $4.48 EPS. On average, sell-side analysts expect that Adobe Inc. will post 16.65 EPS for the current year.

Insider Buying and Selling

In other news, CAO Jillian Forusz sold 334 shares of the stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $435.83, for a total transaction of $145,567.22. Following the transaction, the chief accounting officer now directly owns 2,685 shares in the company, valued at approximately $1,170,203.55. This trade represents a 11.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Daniel Durn acquired 1,300 shares of the business's stock in a transaction dated Thursday, March 20th. The shares were bought 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 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 disclosure for this purchase can be found here. 0.16% of the stock is currently owned by insiders.

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.