Nebula Research & Development LLC Makes New $3.85 Million Investment in Adobe Inc. (NASDAQ:ADBE)

Nebula Research & Development LLC bought a new position in Adobe Inc. (NASDAQ:ADBE - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 8,648 shares of the software company's stock, valued at approximately $3,846,000. Adobe makes up 0.5% of Nebula Research & Development LLC's portfolio, making the stock its 5th biggest holding.

Several other institutional investors and hedge funds also recently made changes to their positions in ADBE. Nordea Investment Management AB raised its position in Adobe by 2.0% in the fourth quarter. Nordea Investment Management AB now owns 1,712,616 shares of the software company's stock worth $765,094,000 after acquiring an additional 33,414 shares during the period. Arizona State Retirement System increased its position in Adobe by 0.4% in 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 during the last quarter. Burling Wealth Partners LLC bought a new stake in shares of Adobe in the fourth quarter valued at $1,173,000. Wealth Enhancement Advisory Services LLC lifted its position in shares of Adobe by 1.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 99,150 shares of the software company's stock valued at $44,090,000 after buying an additional 1,326 shares during the last quarter. Finally, M. Kraus & Co bought a new position in shares of Adobe during the 4th quarter worth $3,285,000. Hedge funds and other institutional investors own 81.79% of the company's stock.

Adobe Trading Up 0.7 %

Adobe stock traded up $2.47 during trading hours on Tuesday, reaching $371.09. The stock had a trading volume of 960,795 shares, compared to its average volume of 3,427,464. The company has a fifty day simple moving average of $391.12 and a 200-day simple moving average of $443.78. 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 $158.16 billion, a PE ratio of 29.90, a PEG ratio of 2.15 and a beta of 1.49. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07.

Adobe (NASDAQ:ADBE - Get Free Report) last released its quarterly earnings results on Wednesday, March 12th. The software company reported $5.08 EPS for the quarter, beating analysts' consensus estimates of $4.97 by $0.11. The business had revenue of $5.71 billion during 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 in the prior year, the company posted $4.48 EPS. Analysts forecast that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on ADBE shares. DA Davidson dropped their price objective on shares of Adobe from $600.00 to $450.00 and set a "buy" rating on the stock in a report on Monday, April 14th. StockNews.com lowered shares of Adobe from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, March 4th. UBS Group dropped their target price on Adobe from $410.00 to $380.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Royal Bank of Canada decreased their price objective on Adobe from $530.00 to $480.00 and set an "outperform" rating on the stock in a research note on Monday, April 14th. Finally, KeyCorp raised Adobe from an "underweight" rating to a "sector weight" rating in a report on Friday, March 21st. 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. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $502.88.

Insider Buying and Selling at Adobe

In other news, CFO Daniel Durn bought 1,300 shares of the firm's stock in a transaction dated Thursday, March 20th. The stock was 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 owns 29,876 shares of the company's stock, valued at approximately $11,668,968.08. The trade was a 4.55 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.