Two Sigma Investments LP Purchases 254,869 Shares of Adobe Inc. (NASDAQ:ADBE)

Two Sigma Investments LP lifted its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 128.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 452,880 shares of the software company's stock after purchasing an additional 254,869 shares during the period. Two Sigma Investments LP owned 0.10% of Adobe worth $201,387,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. Siemens Fonds Invest GmbH boosted its position in shares of Adobe by 252.9% in the fourth quarter. Siemens Fonds Invest GmbH now owns 55,658 shares of the software company's stock valued at $25,000 after acquiring an additional 39,888 shares during the period. Summit Securities Group LLC acquired a new position in Adobe during the 4th quarter valued at $31,000. Caitlin John LLC boosted its holdings in Adobe by 171.4% in the 4th quarter. Caitlin John LLC now owns 76 shares of the software company's stock valued at $34,000 after purchasing an additional 48 shares during the period. Avion Wealth grew its position in Adobe by 112.2% in the 4th quarter. Avion Wealth now owns 87 shares of the software company's stock worth $38,000 after purchasing an additional 46 shares during the last quarter. Finally, Mascoma Wealth Management LLC increased its holdings in shares of Adobe by 142.9% during the 4th quarter. Mascoma Wealth Management LLC now owns 85 shares of the software company's stock worth $38,000 after purchasing an additional 50 shares during the period. Institutional investors and hedge funds own 81.79% of the company's stock.

Analyst Upgrades and Downgrades

ADBE has been the subject of several research reports. Royal Bank of Canada reduced their target price on shares of Adobe from $530.00 to $480.00 and set an "outperform" rating for the company in a research note on Monday, April 14th. BMO Capital Markets cut their price target on Adobe from $495.00 to $450.00 and set an "outperform" rating for the company in a report on Wednesday, April 16th. DA Davidson decreased their price objective on Adobe from $600.00 to $450.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Mizuho lowered their price objective on Adobe from $620.00 to $575.00 and set an "outperform" rating on the stock in a research report on Thursday, March 13th. Finally, Citigroup cut their target price on Adobe from $551.00 to $490.00 and set a "neutral" rating for the company in a research note on Monday, March 10th. Eleven equities research 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. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $502.88.

Adobe Price Performance

Adobe stock opened at $417.13 on Monday. The business's fifty day moving average is $375.68 and its two-hundred day moving average is $433.63. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07. The firm has a market cap of $177.78 billion, a P/E ratio of 33.64, a P/E/G 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.

Adobe (NASDAQ:ADBE - Get Free Report) last released its quarterly earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $5.66 billion. During the same period in the previous year, the business posted $4.48 earnings per share. Equities research analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Insider Transactions at Adobe

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

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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