OMERS ADMINISTRATION Corp lifted its stake in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 0.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 342,332 shares of the software company's stock after buying an additional 1,265 shares during the period. Adobe makes up approximately 1.3% of OMERS ADMINISTRATION Corp's investment portfolio, making the stock its 22nd biggest holding. OMERS ADMINISTRATION Corp owned 0.08% of Adobe worth $152,228,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Decker Retirement Planning Inc. acquired a new position in Adobe during the fourth quarter valued at $31,000. Summit Securities Group LLC purchased a new position in Adobe in the fourth quarter valued at $31,000. Caitlin John LLC increased its holdings in Adobe by 171.4% in the fourth quarter. Caitlin John LLC now owns 76 shares of the software company's stock valued at $34,000 after buying an additional 48 shares in the last quarter. Avion Wealth increased its holdings in Adobe by 112.2% in the fourth quarter. Avion Wealth now owns 87 shares of the software company's stock valued at $38,000 after buying an additional 46 shares in the last quarter. Finally, Mascoma Wealth Management LLC increased its holdings in 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 buying an additional 50 shares in the last quarter. 81.79% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Adobe
In related news, CFO Daniel Durn acquired 1,300 shares of the firm's stock in a transaction dated Thursday, March 20th. The shares were purchased at an average cost of $390.58 per share, for a total transaction of $507,754.00. Following the acquisition, the chief financial officer now owns 29,876 shares in the company, valued at $11,668,968.08. The trade was a 4.55% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.16% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms have weighed in on ADBE. Redburn Atlantic began coverage on shares of Adobe in a report on Wednesday, February 19th. They issued a "neutral" rating for the company. Bank of America cut their target price on shares of Adobe from $605.00 to $528.00 and set a "buy" rating for the company in a research note on Thursday, March 13th. Oppenheimer cut their target price on shares of Adobe from $560.00 to $530.00 and set an "outperform" rating for the company in a research note on Thursday, March 13th. Robert W. Baird cut their target price on shares of Adobe from $490.00 to $410.00 and set a "neutral" rating for the company in a research note on Wednesday, March 19th. Finally, KeyCorp upgraded shares of Adobe from an "underweight" rating to a "sector weight" rating in a research report on Friday, March 21st. Eleven research 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 data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $502.88.
Check Out Our Latest Analysis on ADBE
Adobe Trading Up 1.3%
Shares of ADBE stock traded up $5.22 during trading hours on Thursday, hitting $404.69. The company had a trading volume of 2,761,601 shares, compared to its average volume of 3,430,095. The company's fifty day moving average is $376.01 and its 200 day moving average is $434.77. 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 Inc. has a fifty-two week low of $332.01 and a fifty-two week high of $587.75. The stock has a market capitalization of $172.48 billion, a PE ratio of 32.64, a price-to-earnings-growth ratio of 2.15 and a beta of 1.55.
Adobe (NASDAQ:ADBE - Get Free Report) last issued its quarterly earnings data on Wednesday, March 12th. The software company reported $5.08 EPS for the quarter, topping the consensus estimate of $4.97 by $0.11. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The firm had revenue of $5.71 billion for the quarter, compared to analyst estimates of $5.66 billion. During the same period in the prior year, the business posted $4.48 EPS. Research analysts expect that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.
About Adobe
(
Free Report)
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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