Adobe Inc. (NASDAQ:ADBE) Shares Purchased by Two Sigma Advisers LP

Two Sigma Advisers LP raised its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 1,414.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 889,000 shares of the software company's stock after purchasing an additional 830,300 shares during the period. Adobe accounts for approximately 0.9% of Two Sigma Advisers LP's portfolio, making the stock its 26th largest holding. Two Sigma Advisers LP owned approximately 0.20% of Adobe worth $395,321,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Thurston Springer Miller Herd & Titak Inc. increased its position in Adobe by 441.2% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 92 shares of the software company's stock worth $41,000 after buying an additional 75 shares in the last quarter. Merit Financial Group LLC grew its position in Adobe by 53.2% during the fourth quarter. Merit Financial Group LLC now owns 9,763 shares of the software company's stock valued at $4,341,000 after acquiring an additional 3,389 shares during the period. Arkadios Wealth Advisors grew its position in Adobe by 7.4% during the fourth quarter. Arkadios Wealth Advisors now owns 2,812 shares of the software company's stock valued at $1,250,000 after acquiring an additional 193 shares during the period. Integrated Investment Consultants LLC grew its position in Adobe by 4.0% during the fourth quarter. Integrated Investment Consultants LLC now owns 657 shares of the software company's stock valued at $292,000 after acquiring an additional 25 shares during the period. Finally, CGN Advisors LLC acquired a new position in shares of Adobe during the fourth quarter worth about $1,193,000. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Adobe news, CFO Daniel Durn acquired 1,300 shares of the firm's stock in a transaction that occurred on Thursday, March 20th. The stock was acquired at an average cost of $390.58 per share, with a total value of $507,754.00. Following the acquisition, the chief financial officer now directly owns 29,876 shares of the company's stock, valued at $11,668,968.08. This represents a 4.55% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.16% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on ADBE. BMO Capital Markets reduced their price objective on Adobe from $495.00 to $450.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 16th. Wells Fargo & Company reduced their price objective on Adobe from $600.00 to $430.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Morgan Stanley reduced their price objective on Adobe from $600.00 to $510.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. DA Davidson reduced their price objective on Adobe from $600.00 to $450.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Finally, Wall Street Zen upgraded Adobe from a "hold" rating to a "buy" rating in a research note on Thursday. Eleven equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $502.88.

Adobe Stock Performance

Shares of NASDAQ ADBE traded up $0.30 during mid-day trading on Thursday, hitting $414.33. The company had a trading volume of 1,887,091 shares, compared to its average volume of 3,449,097. Adobe Inc. has a 12 month low of $332.01 and a 12 month high of $587.75. The stock has a market cap of $176.59 billion, a price-to-earnings ratio of 33.41, a PEG ratio of 2.15 and a beta of 1.55. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. The firm's 50 day simple moving average is $376.51 and its two-hundred day simple moving average is $432.95.

Adobe (NASDAQ:ADBE - Get Free Report) last released its quarterly earnings data on Wednesday, March 12th. The software company reported $5.08 earnings per share for the quarter, topping analysts' consensus estimates of $4.97 by $0.11. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The business had revenue of $5.71 billion for the quarter, compared to analysts' expectations of $5.66 billion. During the same quarter last year, the company earned $4.48 EPS. As a group, equities research analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current year.

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.