Brevan Howard Capital Management LP Sells 2,034 Shares of Adobe Inc. (NASDAQ:ADBE)

Brevan Howard Capital Management LP reduced its stake in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 14.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,431 shares of the software company's stock after selling 2,034 shares during the quarter. Brevan Howard Capital Management LP's holdings in Adobe were worth $5,528,000 as of its most recent SEC filing.

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

Adobe Trading Down 0.3 %

Shares of Adobe stock traded down $0.98 on Thursday, reaching $383.99. 3,381,810 shares of the company's stock were exchanged, compared to its average volume of 3,439,104. Adobe Inc. has a 52 week low of $332.01 and a 52 week high of $587.75. The company has a market capitalization of $163.66 billion, a P/E ratio of 30.97, a price-to-earnings-growth ratio of 2.15 and a beta of 1.55. The firm'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.

Adobe (NASDAQ:ADBE - Get Free Report) last released its 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 company had revenue of $5.71 billion during the quarter, compared to analyst estimates of $5.66 billion. During the same period in the prior year, the company posted $4.48 earnings per share. Sell-side analysts predict that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently weighed in on ADBE. Mizuho reduced their price objective on Adobe from $620.00 to $575.00 and set an "outperform" rating for the company in a research report on Thursday, March 13th. Evercore ISI decreased their target price on shares of Adobe from $650.00 to $550.00 and set an "outperform" rating on the stock in a research report on Thursday, March 13th. JPMorgan Chase & Co. dropped their price objective on Adobe from $580.00 to $540.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. UBS Group reduced their target price on Adobe from $410.00 to $380.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Finally, BMO Capital Markets cut their price objective on shares of Adobe from $495.00 to $450.00 and set an "outperform" rating for the company in a research report on Wednesday, April 16th. Eleven analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $502.88.

Insider Buying and Selling

In related news, CFO Daniel Durn acquired 1,300 shares of the stock in a transaction on Thursday, March 20th. The shares were acquired at an average price of $390.58 per share, with a total value of $507,754.00. Following the completion of the transaction, the chief financial officer now 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 SEC, which is accessible through this link. 0.16% of the stock is owned by insiders.

Adobe 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.