Banque de Luxembourg S.A. Acquires Shares of 825 Adobe Inc. (NASDAQ:ADBE)

Banque de Luxembourg S.A. acquired a new position in Adobe Inc. (NASDAQ:ADBE - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 825 shares of the software company's stock, valued at approximately $368,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Geode Capital Management LLC boosted its stake in Adobe by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 10,680,375 shares of the software company's stock worth $4,739,788,000 after acquiring an additional 151,286 shares in the last quarter. Norges Bank purchased a new position in shares of Adobe during the fourth quarter valued at approximately $2,553,035,000. Northern Trust Corp boosted its position in shares of Adobe by 14.5% in the 4th quarter. Northern Trust Corp now owns 5,314,215 shares of the software company's stock worth $2,363,125,000 after purchasing an additional 672,919 shares in the last quarter. Edgewood Management LLC grew its stake in shares of Adobe by 20.7% in the 4th quarter. Edgewood Management LLC now owns 4,059,119 shares of the software company's stock worth $1,805,009,000 after buying an additional 696,172 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Adobe by 3.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,808,909 shares of the software company's stock valued at $1,249,066,000 after buying an additional 92,458 shares in the last quarter. Hedge funds and other institutional investors own 81.79% of the company's stock.

Insider Buying and Selling

In related news, CFO Daniel Durn acquired 1,300 shares of the firm's stock in a transaction dated Thursday, March 20th. The stock was acquired at an average price of $390.58 per share, with a total value of $507,754.00. Following the acquisition, the chief financial officer now directly owns 29,876 shares in the company, valued at $11,668,968.08. This represents a 4.55 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.16% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on ADBE shares. Summit Redstone set a $410.00 target price on Adobe in a report on Wednesday, March 19th. Wells Fargo & Company cut their price objective 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. JPMorgan Chase & Co. decreased their target price on shares of Adobe from $580.00 to $540.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $475.00 price target (down previously from $600.00) on shares of Adobe in a report on Wednesday, January 8th. Finally, StockNews.com lowered shares of Adobe from a "strong-buy" rating to a "buy" rating in a report on Tuesday, March 4th. Eleven equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $502.88.

Adobe Stock Performance

NASDAQ:ADBE traded up $1.99 during trading hours on Wednesday, hitting $384.97. 2,152,569 shares of the company were exchanged, compared to its average volume of 3,434,227. Adobe Inc. has a 52-week low of $332.01 and a 52-week high of $587.75. The company's 50 day moving average price is $383.13 and its 200-day moving average price is $439.00. 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 has a market capitalization of $164.07 billion, a price-to-earnings ratio of 31.05, a PEG ratio of 2.15 and a beta of 1.55.

Adobe (NASDAQ:ADBE - Get Free Report) last issued its quarterly earnings results on Wednesday, March 12th. The software company reported $5.08 EPS for the quarter, topping analysts' consensus estimates of $4.97 by $0.11. The company had revenue of $5.71 billion during the quarter, compared to analysts' expectations of $5.66 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. During the same quarter in the previous year, the firm posted $4.48 EPS. As a group, research analysts forecast that Adobe Inc. will post 16.65 earnings per share 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.