Ninety One UK Ltd Has $29.79 Million Holdings in Adobe Inc. (NASDAQ:ADBE)

Ninety One UK Ltd decreased its stake in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 8.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 77,665 shares of the software company's stock after selling 7,292 shares during the period. Ninety One UK Ltd's holdings in Adobe were worth $29,787,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Norges Bank acquired a new stake in shares of Adobe in the fourth quarter valued at approximately $2,553,035,000. GAMMA Investing LLC boosted its holdings in Adobe by 46,806.6% during the first quarter. GAMMA Investing LLC now owns 2,990,767 shares of the software company's stock worth $1,147,049,000 after buying an additional 2,984,391 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Adobe by 82.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,107,788 shares of the software company's stock worth $937,291,000 after buying an additional 952,233 shares in the last quarter. Two Sigma Advisers LP boosted 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 worth $395,321,000 after purchasing an additional 830,300 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Adobe in the 4th quarter worth approximately $365,750,000. Institutional investors own 81.79% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ADBE. JMP Securities reiterated a "market perform" rating on shares of Adobe in a research report on Monday, June 23rd. Oppenheimer dropped their target price on shares of Adobe from $530.00 to $500.00 and set an "outperform" rating on the stock in a report on Friday, June 13th. Wall Street Zen upgraded shares of Adobe from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd. JPMorgan Chase & Co. decreased their price target on shares of Adobe from $580.00 to $540.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. Finally, Stifel Nicolaus decreased their target price on shares of Adobe from $525.00 to $480.00 and set a "buy" rating on the stock in a research report on Friday, June 13th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $480.08.

Adobe Trading Down 2.3%

Shares of ADBE traded down $8.86 on Wednesday, reaching $373.38. 4,721,427 shares of the company's stock were exchanged, compared to its average volume of 3,441,232. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $158.39 billion, a P/E ratio of 23.89, a price-to-earnings-growth ratio of 1.79 and a beta of 1.51. The business has a 50 day moving average price of $396.48 and a two-hundred day moving average price of $407.17. Adobe Inc. has a 12 month low of $332.01 and a 12 month high of $587.75.

Adobe (NASDAQ:ADBE - Get Free Report) last issued its earnings results on Thursday, June 12th. The software company reported $5.06 EPS for the quarter, beating the consensus estimate of $4.97 by $0.09. Adobe had a net margin of 30.39% and a return on equity of 53.68%. The firm had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.80 billion. During the same quarter in the prior year, the firm earned $4.48 earnings per share. The business's quarterly revenue was up 10.6% on a year-over-year basis. Research analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current year.

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.