Adobe Inc. (NASDAQ:ADBE) Stock Holdings Increased by Joho Capital LLC

Joho Capital LLC increased its holdings in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 64.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 189,900 shares of the software company's stock after acquiring an additional 74,200 shares during the quarter. Adobe comprises 14.7% of Joho Capital LLC's investment portfolio, making the stock its 3rd biggest position. Joho Capital LLC's holdings in Adobe were worth $84,445,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of ADBE. Virtu Financial LLC purchased a new position in Adobe during the third quarter worth approximately $4,167,000. Morse Asset Management Inc increased its position in Adobe by 32.6% during the third quarter. Morse Asset Management Inc now owns 8,494 shares of the software company's stock worth $4,398,000 after purchasing an additional 2,088 shares during the last quarter. Te Ahumairangi Investment Management Ltd boosted its holdings in Adobe by 12.9% in the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 4,455 shares of the software company's stock valued at $2,294,000 after purchasing an additional 510 shares during the last quarter. Anchor Investment Management LLC raised its position in shares of Adobe by 1.6% during the 3rd quarter. Anchor Investment Management LLC now owns 16,261 shares of the software company's stock valued at $8,420,000 after buying an additional 255 shares during the period. Finally, Pine Valley Investments Ltd Liability Co grew its position in Adobe by 13.7% in the third quarter. Pine Valley Investments Ltd Liability Co now owns 25,432 shares of the software company's stock worth $13,168,000 after acquiring an additional 3,071 shares during the period. Institutional investors and hedge funds own 81.79% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. BMO Capital Markets reduced their target price on Adobe from $495.00 to $450.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 16th. 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. Mizuho dropped their price target on shares of Adobe from $620.00 to $575.00 and set an "outperform" rating for the company in a research report on Thursday, March 13th. Stifel Nicolaus decreased their price objective on shares of Adobe from $600.00 to $525.00 and set a "buy" rating on the stock in a report on Thursday, March 13th. Finally, Summit Redstone set a $410.00 price objective on shares of Adobe in a research report on Wednesday, March 19th. Eleven investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $502.88.

Insider Buying and Selling at Adobe

In related news, CAO Jillian Forusz sold 334 shares of the stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total transaction 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 $1,170,203.55. This trade represents a 11.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director David A. Ricks acquired 2,250 shares of the business's stock in a transaction on Tuesday, January 28th. The shares were purchased at an average price of $443.98 per share, with a total value of $998,955.00. Following the transaction, the director now owns 4,984 shares in the company, valued at $2,212,796.32. The trade was a 82.30 % increase in their position. The disclosure for this purchase can be found here. 0.16% of the stock is currently owned by company insiders.

Adobe Stock Down 0.5 %

Shares of NASDAQ ADBE traded down $1.67 during mid-day trading on Monday, reaching $366.05. The company had a trading volume of 1,718,001 shares, compared to its average volume of 3,431,640. Adobe Inc. has a 52-week low of $332.01 and a 52-week high of $587.75. The stock has a market cap of $156.01 billion, a P/E ratio of 29.49, a PEG ratio of 2.15 and a beta of 1.49. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29. The firm has a 50 day simple moving average of $392.89 and a two-hundred day simple moving average of $444.67.

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, topping analysts' consensus estimates of $4.97 by $0.11. The firm had revenue of $5.71 billion for the quarter, compared to the consensus estimate 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 business posted $4.48 EPS. Sell-side analysts predict that Adobe Inc. will post 16.65 earnings per share for the current year.

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.