NWI Management LP Sells 25,000 Shares of Adobe Inc. (NASDAQ:ADBE)

NWI Management LP decreased its holdings in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 48.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,000 shares of the software company's stock after selling 25,000 shares during the period. Adobe accounts for about 0.5% of NWI Management LP's holdings, making the stock its 24th largest holding. NWI Management LP's holdings in Adobe were worth $12,006,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Sepio Capital LP lifted its position in Adobe by 2.3% during the 4th quarter. Sepio Capital LP now owns 993 shares of the software company's stock valued at $442,000 after acquiring an additional 22 shares during the period. Cadence Bank grew its stake in shares of Adobe by 0.5% in the fourth quarter. Cadence Bank now owns 4,883 shares of the software company's stock worth $2,171,000 after acquiring an additional 22 shares during the last quarter. Eagle Strategies LLC raised its position in shares of Adobe by 1.5% in the 4th quarter. Eagle Strategies LLC now owns 1,465 shares of the software company's stock worth $651,000 after purchasing an additional 22 shares during the last quarter. Foster Group Inc. boosted its stake in Adobe by 4.6% in the 4th quarter. Foster Group Inc. now owns 526 shares of the software company's stock worth $234,000 after purchasing an additional 23 shares in the last quarter. Finally, Atlantic Edge Private Wealth Management LLC raised its holdings in Adobe by 0.4% in the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 5,406 shares of the software company's stock worth $2,404,000 after buying an additional 23 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors.

Adobe Stock Up 0.4%

NASDAQ ADBE opened at $397.40 on Wednesday. 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 quick ratio of 1.07 and a current ratio of 1.07. The business has a fifty day moving average price of $377.62 and a 200 day moving average price of $435.54. The company has a market cap of $169.37 billion, a P/E ratio of 32.05, a P/E/G ratio of 2.15 and a beta of 1.55.

Adobe (NASDAQ:ADBE - Get Free Report) last released its quarterly earnings data on Wednesday, March 12th. The software company reported $5.08 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 during the quarter, compared to the consensus estimate of $5.66 billion. During the same quarter in the prior year, the firm earned $4.48 EPS. Research analysts anticipate that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Insider Activity at Adobe

In other Adobe news, CFO Daniel Durn purchased 1,300 shares of the business's stock in a transaction on Thursday, March 20th. The shares were bought at an average cost of $390.58 per share, for a total transaction of $507,754.00. Following the completion of the purchase, the chief financial officer now directly 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.16% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on ADBE shares. Bank of America decreased their price target on Adobe from $605.00 to $528.00 and set a "buy" rating for the company in a research note on Thursday, March 13th. Mizuho lowered their target price on Adobe from $620.00 to $575.00 and set an "outperform" rating on the stock in a report on Thursday, March 13th. Royal Bank of Canada cut their target price on shares of Adobe from $530.00 to $480.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. Oppenheimer decreased their target price on Adobe from $560.00 to $530.00 and set an "outperform" rating on the stock in a report on Thursday, March 13th. Finally, Wells Fargo & Company reduced their target price on shares of Adobe from $600.00 to $430.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Eleven equities 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's stock. According to data from MarketBeat.com, Adobe presently has a consensus rating of "Moderate Buy" and a consensus price target of $502.88.

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.

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