AQR Capital Management LLC Has $334.69 Million Position in Adobe Inc. (NASDAQ:ADBE)

AQR Capital Management LLC grew its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 74.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 752,655 shares of the software company's stock after acquiring an additional 321,007 shares during the period. Adobe comprises approximately 0.4% of AQR Capital Management LLC's holdings, making the stock its 27th biggest holding. AQR Capital Management LLC owned about 0.17% of Adobe worth $334,690,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Decker Retirement Planning Inc. acquired a new stake in Adobe during the 4th quarter valued at $31,000. Summit Securities Group LLC bought a new position in shares of Adobe during the fourth quarter worth about $31,000. Caitlin John LLC grew its position in shares of Adobe by 171.4% in the 4th quarter. Caitlin John LLC now owns 76 shares of the software company's stock worth $34,000 after acquiring an additional 48 shares in the last quarter. Mascoma Wealth Management LLC boosted its holdings in Adobe by 142.9% in the fourth quarter. Mascoma Wealth Management LLC now owns 85 shares of the software company's stock worth $38,000 after purchasing an additional 50 shares during the period. Finally, LFA Lugano Financial Advisors SA bought a new position in shares of Adobe in the 4th quarter worth about $38,000. Hedge funds and other institutional investors own 81.79% of the company's stock.

Insider Activity at Adobe

In other Adobe news, CFO Daniel Durn purchased 1,300 shares of the company'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 purchase, the chief financial officer now directly owns 29,876 shares in the company, valued at $11,668,968.08. This trade represents a 4.55 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.16% of the stock is currently owned by insiders.

Adobe Price Performance

Shares of ADBE traded down $0.35 during mid-day trading on Thursday, hitting $374.63. The company's stock had a trading volume of 2,845,830 shares, compared to its average volume of 3,435,877. The firm has a 50-day moving average price of $386.67 and a 200 day moving average price of $441.88. The stock has a market capitalization of $159.67 billion, a price-to-earnings ratio of 30.21, a PEG ratio of 2.15 and a beta of 1.49. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. Adobe Inc. has a fifty-two week low of $332.01 and a fifty-two week high of $587.75.

Adobe (NASDAQ:ADBE - Get Free Report) last released 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. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The business had revenue of $5.71 billion for the quarter, compared to the consensus estimate of $5.66 billion. During the same period last year, the firm posted $4.48 earnings per share. On average, research analysts predict that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Analysts Set New Price Targets

ADBE has been the topic of a number of recent research reports. Stifel Nicolaus reduced their price target on shares of Adobe from $600.00 to $525.00 and set a "buy" rating on the stock in a research report on Thursday, March 13th. Morgan Stanley reduced their price target on shares of Adobe from $600.00 to $510.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Wells Fargo & Company reduced their price target on shares of Adobe from $600.00 to $430.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. StockNews.com downgraded shares of Adobe from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, March 4th. Finally, Bank of America reduced 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. Eleven analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Adobe has a consensus rating of "Moderate Buy" and a consensus target price of $502.88.

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.