Arrow Capital Pty Ltd Makes New $4.45 Million Investment in Adobe Inc. (NASDAQ:ADBE)

Arrow Capital Pty Ltd purchased a new position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,000 shares of the software company's stock, valued at approximately $4,447,000. Adobe comprises 4.1% of Arrow Capital Pty Ltd's investment portfolio, making the stock its 5th largest holding.

A number of other large investors also recently bought and sold shares of the stock. Sepio Capital LP increased its position in shares of Adobe by 2.3% during the fourth quarter. Sepio Capital LP now owns 993 shares of the software company's stock worth $442,000 after acquiring an additional 22 shares during the period. Foster Group Inc. raised its position in Adobe by 4.6% during the 4th quarter. Foster Group Inc. now owns 526 shares of the software company's stock valued at $234,000 after purchasing an additional 23 shares in the last quarter. Atlantic Edge Private Wealth Management LLC increased its stake in shares of Adobe by 0.4% during the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 5,406 shares of the software company's stock valued at $2,404,000 after buying an additional 23 shares during the period. Veery Capital LLC lifted its stake in Adobe by 1.9% in the fourth quarter. Veery Capital LLC now owns 1,315 shares of the software company's stock worth $585,000 after acquiring an additional 24 shares during the period. Finally, Cornerstone Wealth Management LLC raised its holdings in shares of Adobe by 1.8% in the 4th quarter. Cornerstone Wealth Management LLC now owns 1,327 shares of the software company's stock valued at $590,000 after purchasing an additional 24 shares in the last quarter. Hedge funds and other institutional investors own 81.79% of the company's stock.

Insider Activity

In related news, CFO Daniel Durn bought 1,300 shares of the firm's stock in a transaction on Thursday, March 20th. The stock was bought at an average cost 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 in the company, valued at approximately $11,668,968.08. The trade was a 4.55 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Jillian Forusz sold 334 shares of the stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total value of $145,567.22. Following the completion of the sale, the chief accounting officer now directly owns 2,685 shares in the company, valued at $1,170,203.55. This represents a 11.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,075 shares of company stock worth $2,191,826. 0.16% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Evercore ISI cut their price target on Adobe from $650.00 to $550.00 and set an "outperform" rating on the stock in a report on Thursday, March 13th. Bank of America decreased their price target on Adobe from $605.00 to $528.00 and set a "buy" rating for the company in a research note on Thursday, March 13th. Stifel Nicolaus decreased their price objective on shares of Adobe from $600.00 to $525.00 and set a "buy" rating for the company in a research report on Thursday, March 13th. Robert W. Baird dropped their target price on shares of Adobe from $490.00 to $410.00 and set a "neutral" rating on the stock in a research report on Wednesday, March 19th. Finally, StockNews.com downgraded shares of Adobe from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, March 4th. Eleven equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $506.73.

Adobe Trading Up 2.3 %

NASDAQ ADBE traded up $8.04 during mid-day trading on Tuesday, hitting $351.26. The company's stock had a trading volume of 1,479,530 shares, compared to its average volume of 3,988,510. 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 52-week low of $332.01 and a 52-week high of $587.75. The stock's fifty day simple moving average is $401.15 and its two-hundred day simple moving average is $448.52. The firm has a market capitalization of $149.70 billion, a P/E ratio of 28.33, a price-to-earnings-growth ratio of 2.15 and a beta of 1.49.

Adobe (NASDAQ:ADBE - Get Free Report) last announced its quarterly earnings results 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 return on equity of 45.87% and a net margin of 25.85%. The firm had revenue of $5.71 billion during the quarter, compared to the consensus estimate of $5.66 billion. During the same period in the prior year, the firm earned $4.48 EPS. Research analysts expect that Adobe Inc. will post 16.65 EPS for the current year.

Adobe Company 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.