Vega Investment Solutions Invests $400,000 in Adobe Inc. (NASDAQ:ADBE)

Vega Investment Solutions acquired a new position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 900 shares of the software company's stock, valued at approximately $400,000.

A number of other institutional investors also recently made changes to their positions in ADBE. Norges Bank bought a new position in Adobe during the 4th quarter worth $2,553,035,000. Proficio Capital Partners LLC boosted its position in shares of Adobe by 82,528.8% during the 4th quarter. Proficio Capital Partners LLC now owns 1,042,775 shares of the software company's stock worth $463,701,000 after acquiring an additional 1,041,513 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Adobe by 82.4% during 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% during the fourth 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 in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in Adobe by 225.9% during the fourth quarter. The Manufacturers Life Insurance Company now owns 1,075,945 shares of the software company's stock worth $478,453,000 after purchasing an additional 745,827 shares during the last quarter. Institutional investors own 81.79% of the company's stock.

Adobe Stock Down 1.6%

ADBE stock traded down $6.64 during mid-day trading on Monday, reaching $407.69. 2,086,774 shares of the company traded hands, compared to its average volume of 3,450,026. 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 moving average price is $377.13 and its 200 day moving average price is $430.96. The stock has a market cap of $173.76 billion, a price-to-earnings ratio of 32.88, a P/E/G ratio of 2.15 and a beta of 1.55. Adobe Inc. has a fifty-two week low of $332.01 and a fifty-two week high of $587.75.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share for the quarter, beating analysts' consensus estimates of $4.97 by $0.11. The company had revenue of $5.71 billion for the quarter, compared to analyst estimates of $5.66 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. During the same quarter last year, the company earned $4.48 earnings per share. As a group, equities research analysts predict that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Daniel Durn bought 1,300 shares of the company's stock in a transaction on Thursday, March 20th. The shares were purchased at an average price of $390.58 per share, with a total value of $507,754.00. Following the transaction, the chief financial officer now directly owns 29,876 shares in the company, valued at $11,668,968.08. This represents a 4.55% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.16% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Citigroup dropped their price objective on Adobe from $551.00 to $490.00 and set a "neutral" rating for the company in a research report on Monday, March 10th. Jefferies Financial Group decreased their price target on shares of Adobe from $650.00 to $590.00 and set a "buy" rating on the stock in a report on Monday, March 31st. KeyCorp raised shares of Adobe from an "underweight" rating to a "sector weight" rating in a research note on Friday, March 21st. Robert W. Baird decreased their target price on shares of Adobe from $490.00 to $410.00 and set a "neutral" rating on the stock in a research note on Wednesday, March 19th. Finally, Stifel Nicolaus cut their price objective on 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 assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average 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.