Susquehanna Fundamental Investments LLC Buys New Stake in Adobe Inc. (NASDAQ:ADBE)

Susquehanna Fundamental Investments LLC bought a new stake in Adobe Inc. (NASDAQ:ADBE - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund bought 5,338 shares of the software company's stock, valued at approximately $2,374,000.

Other hedge funds have also modified their holdings of the company. Norges Bank acquired a new stake in Adobe in the fourth quarter valued at approximately $2,553,035,000. Proficio Capital Partners LLC grew its stake in Adobe by 82,528.8% in the 4th quarter. Proficio Capital Partners LLC now owns 1,042,775 shares of the software company's stock valued at $463,701,000 after acquiring an additional 1,041,513 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in Adobe by 82.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,107,788 shares of the software company's stock worth $937,291,000 after acquiring an additional 952,233 shares in the last quarter. FIL Ltd raised its position in Adobe by 130.9% during the fourth quarter. FIL Ltd now owns 1,288,599 shares of the software company's stock worth $573,014,000 after acquiring an additional 730,520 shares during the period. Finally, Edgewood Management LLC grew its position in shares of Adobe by 20.7% in the fourth quarter. Edgewood Management LLC now owns 4,059,119 shares of the software company's stock valued at $1,805,009,000 after purchasing an additional 696,172 shares during the period. 81.79% of the stock is owned by hedge funds and other institutional investors.

Adobe Trading Up 1.7 %

NASDAQ:ADBE traded up $6.24 during trading hours on Friday, reaching $380.87. 2,339,231 shares of the stock were exchanged, compared to its average volume of 3,435,176. Adobe Inc. has a twelve month low of $332.01 and a twelve month high of $587.75. 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 business has a 50-day moving average of $385.41 and a two-hundred day moving average of $441.00. The company has a market capitalization of $162.33 billion, a price-to-earnings ratio of 30.72, a PEG ratio of 2.15 and a beta of 1.49.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.97 by $0.11. The firm had revenue of $5.71 billion for 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 earned $4.48 EPS. On average, equities analysts predict that Adobe Inc. will post 16.65 EPS for the current year.

Insider Buying and Selling

In other Adobe news, CFO Daniel Durn bought 1,300 shares of the company's stock in a transaction that occurred on 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 completion of the acquisition, the chief financial officer now directly owns 29,876 shares of the company's stock, valued at $11,668,968.08. This represents a 4.55 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.16% of the stock is owned by insiders.

Analysts Set New Price Targets

ADBE has been the topic of a number of research reports. Royal Bank of Canada decreased their price target on shares of Adobe from $530.00 to $480.00 and set an "outperform" rating on the stock in a research note on Monday, April 14th. KeyCorp raised Adobe from an "underweight" rating to a "sector weight" rating in a research note on Friday, March 21st. Redburn Atlantic started coverage on Adobe in a research note on Wednesday, February 19th. They issued a "neutral" rating for the company. StockNews.com lowered Adobe from a "strong-buy" rating to a "buy" rating in a report on Tuesday, March 4th. Finally, UBS Group reduced their target price 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. Eleven 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. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $502.88.

About Adobe

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.