UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $2.38 Billion Stock Position in Adobe Inc. (NASDAQ:ADBE)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 12.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,341,695 shares of the software company's stock after purchasing an additional 600,146 shares during the quarter. Adobe makes up about 0.6% of UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC's investment portfolio, making the stock its 23rd largest position. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 1.23% of Adobe worth $2,375,345,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Norges Bank bought a new position in Adobe during the 4th quarter valued at about $2,553,035,000. Proficio Capital Partners LLC raised its stake in shares of 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 valued at $463,701,000 after acquiring an additional 1,041,513 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Adobe by 82.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,107,788 shares of the software company's stock worth $937,291,000 after acquiring an additional 952,233 shares in the last quarter. Two Sigma Advisers LP raised 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 purchasing an additional 830,300 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Adobe by 225.9% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,075,945 shares of the software company's stock valued at $478,453,000 after buying an additional 745,827 shares in the last quarter. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Adobe Price Performance

Adobe stock opened at $420.68 on Tuesday. The stock's 50 day moving average price is $375.32 and its two-hundred day moving average price is $433.19. The stock has a market capitalization of $179.29 billion, a price-to-earnings ratio of 33.93, a PEG ratio of 2.15 and a beta of 1.55. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07. 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 posted its quarterly earnings results 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. The firm had revenue of $5.71 billion during the quarter, compared to the consensus estimate of $5.66 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. During the same period in the previous year, the firm posted $4.48 earnings per share. On average, equities analysts predict that Adobe Inc. will post 16.65 earnings per share for the current year.

Insider Buying and Selling at Adobe

In related news, CFO Daniel Durn bought 1,300 shares of the company's stock in a transaction dated Thursday, March 20th. The shares were bought at an average price of $390.58 per share, for a total transaction of $507,754.00. Following the completion of the acquisition, the chief financial officer now directly owns 29,876 shares of the company's stock, valued at $11,668,968.08. This trade represents a 4.55% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.16% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on ADBE. UBS Group dropped their target price on shares of Adobe from $410.00 to $380.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Redburn Atlantic began coverage on shares of Adobe in a research report on Wednesday, February 19th. They issued a "neutral" rating for the company. Citigroup decreased their price objective on Adobe from $551.00 to $490.00 and set a "neutral" rating on the stock in a research report on Monday, March 10th. StockNews.com downgraded Adobe from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, March 4th. Finally, Piper Sandler decreased their price target on Adobe from $600.00 to $500.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Eleven 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 stock. According to data from MarketBeat.com, Adobe currently has an average rating of "Moderate Buy" and a consensus price target of $502.88.

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.

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