Junto Capital Management LP Acquires Shares of 80,333 Adobe Inc. (NASDAQ:ADBE)

Junto Capital Management LP bought a new position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 80,333 shares of the software company's stock, valued at approximately $35,722,000.

Several other hedge funds and other institutional investors have also modified their holdings of ADBE. Decker Retirement Planning Inc. bought a new position in shares of Adobe during the fourth quarter worth approximately $31,000. Summit Securities Group LLC bought a new position in Adobe during the 4th quarter worth $31,000. Caitlin John LLC lifted its holdings in shares of Adobe by 171.4% during 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 in the last quarter. Mascoma Wealth Management LLC grew 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 valued at $38,000 after acquiring an additional 50 shares in the last quarter. Finally, LFA Lugano Financial Advisors SA bought a new position in Adobe during the fourth quarter worth about $38,000. Institutional investors own 81.79% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on ADBE shares. DA Davidson decreased their target price on shares of Adobe from $600.00 to $450.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Summit Redstone set a $410.00 price target on Adobe in a research report on Wednesday, March 19th. Piper Sandler dropped their price objective on Adobe from $600.00 to $500.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. JPMorgan Chase & Co. reduced their target price on Adobe from $580.00 to $540.00 and set an "overweight" rating on the stock in a report on Thursday, March 13th. Finally, Morgan Stanley dropped their price target on Adobe from $600.00 to $510.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Eleven research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $502.88.

Adobe Stock Down 0.2 %

NASDAQ:ADBE opened at $383.28 on Friday. Adobe Inc. has a one year low of $332.01 and a one year high of $587.75. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. The company has a market cap of $163.35 billion, a PE ratio of 30.91, a P/E/G ratio of 2.15 and a beta of 1.55. The firm's 50 day simple moving average is $379.67 and its 200 day simple moving average is $436.75.

Adobe (NASDAQ:ADBE - Get Free Report) last issued its quarterly earnings results on Wednesday, March 12th. The software company reported $5.08 EPS for the quarter, topping 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 net margin of 25.85% and a return on equity of 45.87%. During the same quarter in the previous year, the business earned $4.48 earnings per share. On average, research analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current year.

Insider Buying and Selling at Adobe

In other news, CFO Daniel Durn purchased 1,300 shares of the company's stock in a transaction dated Thursday, March 20th. The shares were purchased at an average price of $390.58 per share, for a total transaction of $507,754.00. Following the transaction, the chief financial officer now owns 29,876 shares of the company's stock, valued at approximately $11,668,968.08. This trade represents a 4.55 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 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.

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