ProShare Advisors LLC Has $263.12 Million Position in Adobe Inc. (NASDAQ:ADBE)

ProShare Advisors LLC grew its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 18.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 591,711 shares of the software company's stock after acquiring an additional 93,841 shares during the period. Adobe accounts for approximately 0.6% of ProShare Advisors LLC's holdings, making the stock its 21st largest position. ProShare Advisors LLC owned about 0.14% of Adobe worth $263,122,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in ADBE. Miracle Mile Advisors LLC boosted its holdings in Adobe by 32.5% in the 4th quarter. Miracle Mile Advisors LLC now owns 2,089 shares of the software company's stock valued at $929,000 after purchasing an additional 512 shares during the period. FNY Investment Advisers LLC increased its position in shares of Adobe by 20,900.0% during the 4th quarter. FNY Investment Advisers LLC now owns 420 shares of the software company's stock worth $186,000 after purchasing an additional 418 shares in the last quarter. 180 Wealth Advisors LLC increased its position in shares of Adobe by 9.1% during the 4th quarter. 180 Wealth Advisors LLC now owns 1,790 shares of the software company's stock worth $796,000 after purchasing an additional 149 shares in the last quarter. Accurate Wealth Management LLC increased its position in Adobe by 168.6% in the 4th quarter. Accurate Wealth Management LLC now owns 1,982 shares of the software company's stock valued at $805,000 after acquiring an additional 1,244 shares in the last quarter. Finally, Pines Wealth Management LLC acquired a new stake in Adobe in the 4th quarter valued at about $768,000. 81.79% of the stock is owned by institutional investors.

Analyst Ratings Changes

ADBE has been the subject of several analyst reports. UBS Group lowered their price target on shares of Adobe from $410.00 to $380.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. BMO Capital Markets lowered their price target on shares of Adobe from $495.00 to $450.00 and set an "outperform" rating for the company in a research report on Wednesday, April 16th. Piper Sandler lowered their price target on shares of Adobe from $600.00 to $500.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Mizuho reduced their price objective on shares of Adobe from $620.00 to $575.00 and set an "outperform" rating on the stock in a research note on Thursday, March 13th. Finally, StockNews.com lowered shares of Adobe from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, March 4th. Eleven analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Adobe has a consensus rating of "Moderate Buy" and a consensus price target of $502.88.

Insider Transactions at Adobe

In other news, CFO Daniel Durn bought 1,300 shares of the stock in a transaction that occurred on Thursday, March 20th. The shares were acquired at an average cost of $390.58 per share, for a total transaction of $507,754.00. Following the completion of the acquisition, the chief financial officer now owns 29,876 shares in the company, valued at approximately $11,668,968.08. This represents a 4.55% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.16% of the stock is currently owned by insiders.

Adobe Stock Up 3.1%

Shares of ADBE stock traded up $12.44 during trading on Friday, reaching $417.13. The company's stock had a trading volume of 5,386,758 shares, compared to its average volume of 3,446,149. The business has a fifty day moving average price of $375.68 and a 200-day moving average price of $433.93. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29. The company has a market cap of $177.78 billion, a price-to-earnings ratio of 33.64, a price-to-earnings-growth ratio of 2.15 and a beta of 1.55. Adobe Inc. has a one year low of $332.01 and a one year high of $587.75.

Adobe (NASDAQ:ADBE - Get Free Report) last announced its quarterly earnings data 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 business 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 firm posted $4.48 earnings per share. Analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current year.

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.