BLI Banque de Luxembourg Investments Acquires New Stake in Adobe Inc. (NASDAQ:ADBE)

BLI Banque de Luxembourg Investments acquired a new position in Adobe Inc. (NASDAQ:ADBE - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 149,170 shares of the software company's stock, valued at approximately $66,493,000. Adobe makes up 1.8% of BLI Banque de Luxembourg Investments' investment portfolio, making the stock its 15th largest position.

Several other institutional investors and hedge funds also recently bought and sold shares of ADBE. Nordea Investment Management AB grew its holdings in Adobe by 2.0% during the 4th quarter. Nordea Investment Management AB now owns 1,712,616 shares of the software company's stock valued at $765,094,000 after buying an additional 33,414 shares in the last quarter. Arizona State Retirement System raised its position in Adobe by 0.4% during the fourth quarter. Arizona State Retirement System now owns 127,696 shares of the software company's stock valued at $56,784,000 after purchasing an additional 570 shares during the period. Burling Wealth Partners LLC purchased a new stake in Adobe during the 4th quarter valued at $1,173,000. Wealth Enhancement Advisory Services LLC increased its position in Adobe by 1.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 99,150 shares of the software company's stock valued at $44,090,000 after acquiring an additional 1,326 shares during the last quarter. Finally, M. Kraus & Co bought a new stake in shares of Adobe in the 4th quarter worth about $3,285,000. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Adobe

In related news, CFO Daniel Durn bought 1,300 shares of the company'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 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.16% of the stock is currently owned by insiders.

Adobe Price Performance

Shares of ADBE stock traded up $1.99 during mid-day trading on Wednesday, hitting $384.97. 2,152,569 shares of the stock were exchanged, compared to its average volume of 3,434,227. The company has a market cap of $164.07 billion, a PE ratio of 31.05, a price-to-earnings-growth ratio of 2.15 and a beta of 1.55. Adobe Inc. has a 52-week low of $332.01 and a 52-week high of $587.75. The firm has a fifty day moving average of $383.13 and a 200 day moving average of $439.00. 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 (NASDAQ:ADBE - Get Free Report) last released its quarterly earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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. Research analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on ADBE shares. Stifel Nicolaus decreased their price target on Adobe from $600.00 to $525.00 and set a "buy" rating for the company in a research note on Thursday, March 13th. Wells Fargo & Company decreased their price objective on Adobe from $600.00 to $430.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Mizuho cut their price target on shares of Adobe from $620.00 to $575.00 and set an "outperform" rating on the stock in a report on Thursday, March 13th. KeyCorp raised Adobe from an "underweight" rating to a "sector weight" rating in a research report on Friday, March 21st. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $475.00 price target (down from $600.00) on shares of Adobe in a research note on Wednesday, January 8th. Eleven research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target 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.