iSAM Funds UK Ltd Purchases Shares of 700 Adobe Inc. (NASDAQ:ADBE)

iSAM Funds UK Ltd purchased a new stake in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 700 shares of the software company's stock, valued at approximately $311,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Geode Capital Management LLC boosted its holdings in Adobe by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 10,680,375 shares of the software company's stock worth $4,739,788,000 after acquiring an additional 151,286 shares during the last quarter. Norges Bank purchased a new position in Adobe during the 4th quarter worth $2,553,035,000. Northern Trust Corp boosted its holdings in Adobe by 14.5% during the 4th quarter. Northern Trust Corp now owns 5,314,215 shares of the software company's stock worth $2,363,125,000 after acquiring an additional 672,919 shares during the last quarter. Edgewood Management LLC boosted its holdings in Adobe by 20.7% during the 4th quarter. Edgewood Management LLC now owns 4,059,119 shares of the software company's stock worth $1,805,009,000 after acquiring an additional 696,172 shares during the last quarter. Finally, Deutsche Bank AG boosted its holdings in Adobe by 4.0% during the 4th quarter. Deutsche Bank AG now owns 3,496,967 shares of the software company's stock worth $1,555,031,000 after acquiring an additional 133,556 shares during the last quarter. Institutional investors own 81.79% of the company's stock.

Adobe Price Performance

NASDAQ ADBE opened at $417.61 on Wednesday. The company has a market cap of $177.99 billion, a PE ratio of 33.68, 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 company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29. The firm's 50-day simple moving average is $376.12 and its two-hundred day simple moving average is $433.08.

Adobe (NASDAQ:ADBE - Get Free Report) last released its quarterly earnings data 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 net margin of 25.85% and a return on equity of 45.87%. The company had revenue of $5.71 billion during the quarter, compared to analyst estimates of $5.66 billion. During the same period last year, the business earned $4.48 earnings per share. Research analysts predict that Adobe Inc. will post 16.65 earnings per share for the current year.

Insider Activity

In other news, CFO Daniel Durn acquired 1,300 shares of the business's stock in a transaction dated Thursday, March 20th. The stock was bought at an average cost of $390.58 per share, for a total transaction of $507,754.00. Following the completion of the transaction, the chief financial officer now owns 29,876 shares of the company's stock, valued at $11,668,968.08. The trade was a 4.55% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.16% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ADBE. Royal Bank of Canada cut their price objective on shares of Adobe from $530.00 to $480.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. Piper Sandler cut their price objective on shares of Adobe from $600.00 to $500.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. StockNews.com downgraded shares of Adobe from a "strong-buy" rating to a "buy" rating in a report on Tuesday, March 4th. BMO Capital Markets cut their price target on shares of Adobe from $495.00 to $450.00 and set an "outperform" rating on the stock in a report on Wednesday, April 16th. Finally, Stifel Nicolaus cut their price target on shares of Adobe from $600.00 to $525.00 and set a "buy" rating on the stock in a report on Thursday, March 13th. Eleven analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus 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.

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