Kerrisdale Advisers LLC Buys 1,004 Shares of Adobe Inc. (NASDAQ:ADBE)

Kerrisdale Advisers LLC lifted its stake in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 65.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,535 shares of the software company's stock after buying an additional 1,004 shares during the period. Kerrisdale Advisers LLC's holdings in Adobe were worth $1,127,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of ADBE. Geode Capital Management LLC boosted its stake in shares of Adobe by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 10,680,375 shares of the software company's stock valued at $4,739,788,000 after purchasing an additional 151,286 shares in the last quarter. Norges Bank acquired a new stake in Adobe in the fourth quarter worth $2,553,035,000. Edgewood Management LLC grew its holdings in Adobe by 20.7% in the fourth quarter. Edgewood Management LLC now owns 4,059,119 shares of the software company's stock worth $1,805,009,000 after purchasing an additional 696,172 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Adobe by 3.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,808,909 shares of the software company's stock valued at $1,249,066,000 after purchasing an additional 92,458 shares in the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of Adobe by 7.3% during the third quarter. Franklin Resources Inc. now owns 2,424,024 shares of the software company's stock valued at $1,235,157,000 after purchasing an additional 163,983 shares during the period. Institutional investors and hedge funds own 81.79% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently commented on ADBE. DA Davidson reduced their target price on Adobe from $600.00 to $450.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Citigroup reduced their price objective on Adobe from $551.00 to $490.00 and set a "neutral" rating for the company in a research note on Monday, March 10th. Redburn Atlantic started coverage on Adobe in a research report on Wednesday, February 19th. They set a "neutral" rating on the stock. StockNews.com cut Adobe from a "strong-buy" rating to a "buy" rating in a report on Tuesday, March 4th. Finally, BNP Paribas upgraded shares of Adobe from an "underperform" rating to a "neutral" rating and set a $425.00 price target for the company in a research note on Wednesday, January 15th. Eleven investment 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 company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $502.88.

Adobe Stock Performance

Shares of Adobe stock traded down $2.08 during trading hours on Monday, hitting $365.65. 1,607,756 shares of the company's stock traded hands, compared to its average volume of 3,431,164. The company has a fifty day simple moving average of $392.89 and a 200-day simple moving average of $444.67. 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 stock has a market capitalization of $155.84 billion, a price-to-earnings ratio of 29.49, a PEG ratio of 2.15 and a beta of 1.49. Adobe Inc. has a 12-month low of $332.01 and a 12-month high of $587.75.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $5.71 billion during the quarter, compared to the consensus estimate of $5.66 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. During the same quarter last year, the company posted $4.48 earnings per share. Equities research analysts anticipate that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Insider Activity at Adobe

In other news, Director David A. Ricks bought 2,250 shares of the stock in a transaction on Tuesday, January 28th. The shares were purchased at an average cost of $443.98 per share, for a total transaction of $998,955.00. Following the completion of the purchase, the director now directly owns 4,984 shares in the company, valued at $2,212,796.32. This represents a 82.30 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Daniel Durn purchased 1,300 shares of the business's stock in a transaction dated 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 purchase, the chief financial officer now directly owns 29,876 shares in the company, valued at $11,668,968.08. This trade represents a 4.55 % increase in their position. The disclosure for this purchase can be found here. 0.16% of the stock is owned by company insiders.

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.