Union Square Park Capital Management LLC Makes New $4.45 Million Investment in Adobe Inc. (NASDAQ:ADBE)

Union Square Park Capital Management LLC purchased a new position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 10,000 shares of the software company's stock, valued at approximately $4,447,000. Adobe makes up about 2.9% of Union Square Park Capital Management LLC's portfolio, making the stock its 12th biggest holding.

Several other large investors have also recently made changes to their positions in the business. Siemens Fonds Invest GmbH increased its stake 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 worth $25,000 after buying an additional 39,888 shares during the period. Summit Securities Group LLC purchased a new position in shares of Adobe in the fourth quarter worth $31,000. Caitlin John LLC increased its stake in shares of Adobe by 171.4% in the fourth quarter. Caitlin John LLC now owns 76 shares of the software company's stock worth $34,000 after buying an additional 48 shares during the period. Avion Wealth increased its stake in shares of Adobe by 112.2% in the fourth quarter. Avion Wealth now owns 87 shares of the software company's stock worth $38,000 after buying an additional 46 shares during the period. Finally, Mascoma Wealth Management LLC increased its stake in shares of Adobe by 142.9% in the fourth quarter. Mascoma Wealth Management LLC now owns 85 shares of the software company's stock worth $38,000 after buying an additional 50 shares during the period. 81.79% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on ADBE. Oppenheimer cut their price target on shares of Adobe from $560.00 to $530.00 and set an "outperform" rating on the stock in a report on Thursday, March 13th. Mizuho cut their price target on shares of Adobe from $620.00 to $575.00 and set an "outperform" rating on the stock in a report on Thursday, March 13th. UBS Group cut their price target on shares of Adobe from $410.00 to $380.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. JPMorgan Chase & Co. cut their price target on shares of Adobe from $580.00 to $540.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Finally, BMO Capital Markets dropped their target price 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. Eleven research 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 stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $502.88.

Insider Buying and Selling

In other news, CFO Daniel Durn bought 1,300 shares of Adobe stock in a transaction that occurred on Thursday, March 20th. The stock was bought at an average cost of $390.58 per share, with a total value of $507,754.00. Following the acquisition, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.16% of the stock is currently owned by insiders.

Adobe Price Performance

NASDAQ ADBE opened at $420.68 on Tuesday. Adobe Inc. has a 52 week low of $332.01 and a 52 week high of $587.75. The firm has a market capitalization of $179.29 billion, a P/E ratio of 33.93, a PEG ratio of 2.15 and a beta of 1.55. 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 company has a 50-day moving average price of $375.32 and a 200-day moving average price of $433.19.

Adobe (NASDAQ:ADBE - Get Free Report) last released its quarterly earnings results on Wednesday, March 12th. The software company reported $5.08 EPS 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 analyst estimates of $5.66 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. During the same quarter in the prior year, the firm earned $4.48 EPS. Equities research analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current year.

About Adobe

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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