Bayesian Capital Management LP boosted its stake in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 69.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,639 shares of the software company's stock after buying an additional 1,900 shares during the quarter. Bayesian Capital Management LP's holdings in Adobe were worth $2,063,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of ADBE. Decker Retirement Planning Inc. acquired a new stake in shares of Adobe during the fourth quarter worth $31,000. Summit Securities Group LLC purchased a new stake in shares of Adobe in the fourth quarter valued at about $31,000. Caitlin John LLC boosted its holdings in shares of Adobe by 171.4% in the fourth quarter. Caitlin John LLC now owns 76 shares of the software company's stock valued at $34,000 after acquiring an additional 48 shares in the last quarter. Mascoma Wealth Management LLC raised its holdings in Adobe by 142.9% during 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 in the last quarter. Finally, LFA Lugano Financial Advisors SA acquired a new stake in Adobe in the fourth quarter valued at about $38,000. 81.79% of the stock is owned by institutional investors and hedge funds.
Adobe Stock Performance
Shares of NASDAQ:ADBE traded down $0.98 on Thursday, hitting $383.99. The company's stock had a trading volume of 3,381,810 shares, compared to its average volume of 3,439,104. Adobe Inc. has a 12 month low of $332.01 and a 12 month high of $587.75. The stock's 50-day moving average is $382.06 and its two-hundred day moving average is $438.62. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07. The company has a market capitalization of $163.66 billion, a price-to-earnings ratio of 30.97, a price-to-earnings-growth ratio of 2.15 and a beta of 1.55.
Adobe (NASDAQ:ADBE - Get Free Report) last released its earnings results on Wednesday, March 12th. The software company reported $5.08 EPS for the quarter, beating the consensus estimate of $4.97 by $0.11. The firm had revenue of $5.71 billion for the quarter, compared to analysts' expectations of $5.66 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. During the same quarter last year, the company earned $4.48 EPS. On average, equities research analysts forecast that Adobe Inc. will post 16.65 EPS for the current year.
Analyst Ratings Changes
A number of brokerages recently weighed in on ADBE. Stifel Nicolaus dropped their price objective on Adobe from $600.00 to $525.00 and set a "buy" rating on the stock in a report on Thursday, March 13th. Royal Bank of Canada lowered their target price 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. Citigroup decreased their price target on Adobe from $551.00 to $490.00 and set a "neutral" rating on the stock in a research note on Monday, March 10th. Redburn Atlantic started coverage on Adobe in a research note on Wednesday, February 19th. They issued a "neutral" rating for the company. Finally, StockNews.com downgraded Adobe from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, March 4th. 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. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $502.88.
Get Our Latest Report on ADBE
Insider Transactions at Adobe
In other news, CFO Daniel Durn purchased 1,300 shares of the business's stock in a transaction dated Thursday, March 20th. The stock was bought at an average cost of $390.58 per share, with a total value of $507,754.00. Following the purchase, the chief financial officer now directly owns 29,876 shares of the company's stock, valued at approximately $11,668,968.08. This trade represents a 4.55 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.16% of the stock is currently owned by company insiders.
Adobe Company Profile
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Free Report)
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.
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