3,730 Shares in Adobe Inc. (NASDAQ:ADBE) Bought by Fairtree Asset Management Pty Ltd

Fairtree Asset Management Pty Ltd purchased a new stake in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,730 shares of the software company's stock, valued at approximately $1,659,000. Adobe accounts for approximately 1.6% of Fairtree Asset Management Pty Ltd's portfolio, making the stock its 15th biggest holding.

Other institutional investors have also modified their holdings of the company. Norges Bank bought a new position in shares of Adobe in the fourth quarter worth $2,553,035,000. Proficio Capital Partners LLC lifted its holdings in Adobe by 82,528.8% in the fourth 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 during the period. Arrowstreet Capital Limited Partnership lifted its holdings in Adobe by 82.4% in the fourth 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 period. Two Sigma Advisers LP grew its position 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 buying an additional 830,300 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Adobe during the 4th quarter valued at about $365,750,000. Institutional investors own 81.79% of the company's stock.

Analysts Set New Price Targets

ADBE has been the subject of several recent analyst reports. Jefferies Financial Group decreased their price objective on shares of Adobe from $650.00 to $590.00 and set a "buy" rating for the company in a report on Monday, March 31st. Robert W. Baird cut their target price on Adobe from $490.00 to $410.00 and set a "neutral" rating for the company in a research report on Wednesday, March 19th. Citigroup lowered their price target on Adobe from $551.00 to $490.00 and set a "neutral" rating on the stock in a research report on Monday, March 10th. UBS Group dropped their price objective on Adobe from $410.00 to $380.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Finally, Summit Redstone set a $410.00 target price on 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 assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $502.88.

Adobe Stock Performance

ADBE opened at $414.76 on Monday. The company has a market cap of $176.77 billion, a price-to-earnings ratio of 33.45, a PEG ratio of 2.15 and a beta of 1.55. The company's fifty day moving average price is $379.10 and its two-hundred day moving average price is $427.27. Adobe Inc. has a 1-year low of $332.01 and a 1-year high of $587.75. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29.

Adobe (NASDAQ:ADBE - Get Free Report) last issued its quarterly earnings data on Wednesday, March 12th. The software company reported $5.08 earnings per share 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 business had revenue of $5.71 billion for the quarter, compared to analysts' expectations of $5.66 billion. During the same period last year, the business earned $4.48 EPS. On average, analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Insider Activity at Adobe

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

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.