J. Stern & Co. LLP Has $38.73 Million Holdings in Adobe Inc. (NASDAQ:ADBE)

J. Stern & Co. LLP raised its holdings in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 6.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 87,106 shares of the software company's stock after buying an additional 5,267 shares during the quarter. Adobe comprises 3.6% of J. Stern & Co. LLP's investment portfolio, making the stock its 12th largest holding. J. Stern & Co. LLP's holdings in Adobe were worth $38,734,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Nordea Investment Management AB grew its holdings in shares of Adobe by 2.0% during the 4th quarter. Nordea Investment Management AB now owns 1,712,616 shares of the software company's stock worth $765,094,000 after purchasing an additional 33,414 shares in the last quarter. Arizona State Retirement System boosted its stake in Adobe by 0.4% during the fourth quarter. Arizona State Retirement System now owns 127,696 shares of the software company's stock worth $56,784,000 after buying an additional 570 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Adobe by 1.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 99,150 shares of the software company's stock worth $44,090,000 after buying an additional 1,326 shares in the last quarter. M. Kraus & Co bought a new stake in Adobe in the 4th quarter valued at $3,285,000. Finally, Silicon Valley Capital Partners raised its stake in shares of Adobe by 4.1% in the 4th quarter. Silicon Valley Capital Partners now owns 5,972 shares of the software company's stock valued at $2,656,000 after buying an additional 236 shares in the last quarter. 81.79% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Jefferies Financial Group decreased their target price on shares of Adobe from $650.00 to $590.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Citigroup decreased their price objective on Adobe from $551.00 to $490.00 and set a "neutral" rating on the stock in a report on Monday, March 10th. Robert W. Baird dropped their target price on Adobe from $490.00 to $410.00 and set a "neutral" rating for the company in a report on Wednesday, March 19th. Wells Fargo & Company cut their target price on Adobe from $600.00 to $430.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Finally, UBS Group lowered their price target on Adobe from $410.00 to $380.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Eleven equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Adobe currently has a consensus rating of "Moderate Buy" and a consensus price target of $502.88.

Adobe Trading Down 0.6 %

Shares of ADBE traded down $2.08 during trading hours on Monday, hitting $365.65. 1,607,756 shares of the stock traded hands, compared to its average volume of 3,431,164. The business has a fifty day moving average of $392.89 and a 200-day moving average of $444.67. The firm has a market capitalization of $155.84 billion, a PE ratio of 29.49, a price-to-earnings-growth ratio of 2.15 and a beta of 1.49. Adobe Inc. has a 1-year low of $332.01 and a 1-year high of $587.75. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29.

Adobe (NASDAQ:ADBE - Get Free Report) last released its 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 net margin of 25.85% and a return on equity of 45.87%. The company had revenue of $5.71 billion for the quarter, compared to the consensus estimate of $5.66 billion. During the same period in the prior year, the company posted $4.48 EPS. Analysts expect that Adobe Inc. will post 16.65 EPS for the current year.

Insider Buying and Selling at Adobe

In related news, Director David A. Ricks bought 2,250 shares of Adobe stock in a transaction on Tuesday, January 28th. The shares were purchased at an average price of $443.98 per share, for a total transaction of $998,955.00. Following the completion of the acquisition, the director now owns 4,984 shares in the company, valued at approximately $2,212,796.32. This represents a 82.30 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Jillian Forusz sold 334 shares of the company's stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $435.83, for a total value of $145,567.22. Following the completion of the sale, the chief accounting officer now directly owns 2,685 shares of the company's stock, valued at approximately $1,170,203.55. This trade represents a 11.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.16% of the company's stock.

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.