Universal Beteiligungs und Servicegesellschaft mbH Makes New Investment in Adobe Inc. (NASDAQ:ADBE)

Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 822,501 shares of the software company's stock, valued at approximately $365,750,000. Adobe accounts for approximately 0.7% of Universal Beteiligungs und Servicegesellschaft mbH's investment portfolio, making the stock its 18th biggest position. Universal Beteiligungs und Servicegesellschaft mbH owned about 0.19% of Adobe at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Adobe in the fourth quarter valued at about $2,553,035,000. Proficio Capital Partners LLC increased its stake 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 purchasing an additional 1,041,513 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Adobe by 82.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,107,788 shares of the software company's stock worth $937,291,000 after purchasing an additional 952,233 shares during the last quarter. Two Sigma Advisers LP grew its holdings in Adobe by 1,414.5% during the 4th quarter. Two Sigma Advisers LP now owns 889,000 shares of the software company's stock valued at $395,321,000 after buying an additional 830,300 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in Adobe by 225.9% during the fourth quarter. The Manufacturers Life Insurance Company now owns 1,075,945 shares of the software company's stock worth $478,453,000 after buying an additional 745,827 shares in the last quarter. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Daniel Durn purchased 1,300 shares of the company's stock in a transaction dated Thursday, March 20th. The shares were acquired at an average cost of $390.58 per share, for a total transaction of $507,754.00. Following the transaction, the chief financial officer now owns 29,876 shares of the company's stock, valued at $11,668,968.08. This trade represents a 4.55% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.16% of the stock is owned by corporate insiders.

Adobe Stock Up 0.3%

NASDAQ ADBE traded up $1.40 on Friday, hitting $414.76. 4,229,411 shares of the stock traded hands, compared to its average volume of 3,659,711. 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 stock has a 50-day moving average of $378.87 and a 200 day moving average of $429.47. Adobe Inc. has a twelve month low of $332.01 and a twelve month high of $587.75. The company has a market capitalization of $176.77 billion, a P/E ratio of 33.45, a price-to-earnings-growth ratio of 2.15 and a beta of 1.55.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its quarterly 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 business 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. As a group, analysts expect that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ADBE has been the subject of a number of recent research reports. Evercore ISI lowered their price target on shares of Adobe from $650.00 to $550.00 and set an "outperform" rating for the company in a report on Thursday, March 13th. Morgan Stanley reduced their price target on shares of Adobe from $600.00 to $510.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Robert W. Baird lowered their target price on Adobe from $490.00 to $410.00 and set a "neutral" rating for the company in a research note on Wednesday, March 19th. KeyCorp upgraded Adobe from an "underweight" rating to a "sector weight" rating in a report on Friday, March 21st. Finally, Bank of America reduced their price target on Adobe from $605.00 to $528.00 and set a "buy" rating on the stock in a research report on Thursday, March 13th. 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 stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $502.88.

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.