10,000 Shares in Adobe Inc. (NASDAQ:ADBE) Purchased by BW Gestao de Investimentos Ltda.

BW Gestao de Investimentos Ltda. bought a new position in Adobe Inc. (NASDAQ:ADBE - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 10,000 shares of the software company's stock, valued at approximately $4,447,000.

Other hedge funds have also recently modified their holdings of the company. Sepio Capital LP lifted its holdings in shares of Adobe by 2.3% during the 4th quarter. Sepio Capital LP now owns 993 shares of the software company's stock valued at $442,000 after buying an additional 22 shares during the period. Cadence Bank grew its stake in shares of Adobe by 0.5% during the 4th quarter. Cadence Bank now owns 4,883 shares of the software company's stock valued at $2,171,000 after acquiring an additional 22 shares during the period. Eagle Strategies LLC boosted its position in shares of Adobe by 1.5% in the fourth quarter. Eagle Strategies LLC now owns 1,465 shares of the software company's stock worth $651,000 after purchasing an additional 22 shares during the period. Foster Group Inc. lifted its stake in shares of 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 buying an additional 23 shares in the last quarter. Finally, Atlantic Edge Private Wealth Management LLC boosted its holdings in Adobe by 0.4% in the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 5,406 shares of the software company's stock worth $2,404,000 after buying an additional 23 shares during the period. Hedge funds and other institutional investors own 81.79% of the company's stock.

Insider Buying and Selling

In related news, CFO Daniel Durn purchased 1,300 shares of the firm's stock in a transaction on 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 completion of the acquisition, the chief financial officer now owns 29,876 shares in the company, valued at approximately $11,668,968.08. This represents a 4.55 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.16% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ADBE. Mizuho lowered their price objective on Adobe from $620.00 to $575.00 and set an "outperform" rating on the stock in a research report on Thursday, March 13th. JPMorgan Chase & Co. lowered their price target on Adobe from $580.00 to $540.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Redburn Atlantic assumed coverage on shares of Adobe in a report on Wednesday, February 19th. They set a "neutral" rating for the company. Evercore ISI lowered their target price on shares of Adobe from $650.00 to $550.00 and set an "outperform" rating on the stock in a report on Thursday, March 13th. Finally, Summit Redstone set a $410.00 target price on shares of Adobe in a research note on Wednesday, March 19th. Eleven equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Adobe currently has an average rating of "Moderate Buy" and a consensus price target of $502.88.

Adobe Stock Up 0.5 %

Shares of ADBE stock traded up $1.99 during trading hours on Wednesday, reaching $384.97. 2,152,569 shares of the company's stock were exchanged, compared to its average volume of 3,434,227. Adobe Inc. has a fifty-two week low of $332.01 and a fifty-two week high of $587.75. The stock's 50 day moving average is $383.13 and its 200-day moving average is $439.00. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29. The company has a market cap of $164.07 billion, a price-to-earnings ratio of 31.05, a P/E/G ratio of 2.15 and a beta of 1.55.

Adobe (NASDAQ:ADBE - Get Free Report) last announced 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. The company had revenue of $5.71 billion for the quarter, compared to analyst estimates of $5.66 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. During the same period in the prior year, the company posted $4.48 EPS. Analysts predict that Adobe Inc. will post 16.65 earnings per share for the current fiscal 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.