2,534 Shares in Adobe Inc. (NASDAQ:ADBE) Bought by Tounjian Advisory Partners LLC

Tounjian Advisory Partners LLC purchased a new stake in Adobe Inc. (NASDAQ:ADBE - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 2,534 shares of the software company's stock, valued at approximately $972,000.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new stake in Adobe in the fourth quarter valued at approximately $2,553,035,000. GAMMA Investing LLC boosted its stake in shares of Adobe by 46,806.6% during the 1st quarter. GAMMA Investing LLC now owns 2,990,767 shares of the software company's stock worth $1,147,049,000 after acquiring an additional 2,984,391 shares during the period. Proficio Capital Partners LLC increased its holdings in shares of Adobe by 82,528.8% during the 4th quarter. Proficio Capital Partners LLC now owns 1,042,775 shares of the software company's stock worth $463,701,000 after acquiring an additional 1,041,513 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Adobe by 82.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,107,788 shares of the software company's stock valued at $937,291,000 after acquiring an additional 952,233 shares during the period. Finally, Two Sigma Advisers LP raised its stake in Adobe by 1,414.5% in the 4th quarter. Two Sigma Advisers LP now owns 889,000 shares of the software company's stock valued at $395,321,000 after acquiring an additional 830,300 shares during the period. Institutional investors and hedge funds own 81.79% of the company's stock.

Insider Buying and Selling at Adobe

In other news, CFO Daniel Durn bought 1,300 shares of the company's stock in a transaction that occurred on Thursday, March 20th. The shares were acquired at an average price of $390.58 per share, for a total transaction of $507,754.00. Following the completion of the acquisition, the chief financial officer now directly owns 29,876 shares in the company, valued at approximately $11,668,968.08. This represents a 4.55% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.16% of the company's stock.

Adobe Trading Down 0.0%

Shares of Adobe stock traded down $0.20 during trading on Tuesday, hitting $416.06. The company's stock had a trading volume of 2,623,502 shares, compared to its average volume of 3,404,861. The stock has a market cap of $177.32 billion, a price-to-earnings ratio of 33.55, 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 stock has a 50-day moving average price of $382.02 and a two-hundred day moving average price of $423.49. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07.

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

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Wells Fargo & Company reduced their target price on shares of Adobe from $600.00 to $430.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Wall Street Zen upgraded Adobe from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd. Royal Bank of Canada reissued an "outperform" rating and issued a $480.00 target price on shares of Adobe in a research report on Thursday, June 5th. Stifel Nicolaus dropped their price target on shares of Adobe from $600.00 to $525.00 and set a "buy" rating for the company in a research report on Thursday, March 13th. Finally, UBS Group increased their price target on Adobe from $380.00 to $430.00 and gave the stock a "neutral" rating in a research report on Monday. Eleven equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Adobe currently has a consensus rating of "Moderate Buy" and a consensus price target of $503.85.

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.