V Square Quantitative Management LLC Boosts Stock Position in Adobe Inc. (NASDAQ:ADBE)

V Square Quantitative Management LLC increased its stake in Adobe Inc. (NASDAQ:ADBE) by 3.6% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,501 shares of the software company’s stock after buying an additional 396 shares during the period. Adobe accounts for about 0.7% of V Square Quantitative Management LLC’s holdings, making the stock its 18th largest holding. V Square Quantitative Management LLC’s holdings in Adobe were worth $5,114,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Legacy Investment Solutions LLC purchased a new stake in Adobe during the 3rd quarter valued at $26,000. Groupama Asset Managment boosted its stake in Adobe by 28.8% during the 3rd quarter. Groupama Asset Managment now owns 51,482 shares of the software company’s stock valued at $27,000 after purchasing an additional 11,522 shares during the last quarter. MidAtlantic Capital Management Inc. purchased a new stake in Adobe during the 3rd quarter valued at $30,000. True Wealth Design LLC boosted its stake in Adobe by 141.7% during the 3rd quarter. True Wealth Design LLC now owns 58 shares of the software company’s stock valued at $30,000 after purchasing an additional 34 shares during the last quarter. Finally, Decker Retirement Planning Inc. purchased a new stake in Adobe during the 4th quarter valued at $31,000. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. BMO Capital Markets cut their target price on Adobe from $600.00 to $570.00 and set an “outperform” rating on the stock in a research note on Thursday, December 12th. Piper Sandler cut their target price on Adobe from $635.00 to $600.00 and set an “overweight” rating on the stock in a research note on Thursday, December 12th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $475.00 target price (down from $600.00) on shares of Adobe in a research note on Wednesday, January 8th. JMP Securities restated a “market perform” rating on shares of Adobe in a research note on Thursday, December 12th. Finally, Stifel Nicolaus dropped their price target on Adobe from $650.00 to $600.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Adobe currently has an average rating of “Moderate Buy” and a consensus target price of $573.00.

Insider Buying and Selling at Adobe

In other news, EVP Scott Belsky sold 922 shares of Adobe stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $437.28, for a total value of $403,172.16. Following the sale, the executive vice president now directly owns 22,153 shares of the company’s stock, valued at approximately $9,687,063.84. The trade was a 4.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Amy Banse sold 606 shares of Adobe stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $550.00, for a total value of $333,300.00. Following the completion of the sale, the director now directly owns 32,929 shares in the company, valued at $18,110,950. This trade represents a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,681 shares of company stock valued at $2,525,126 over the last ninety days. 0.15% of the stock is currently owned by company insiders.

Adobe Price Performance

NASDAQ:ADBE opened at $459.22 on Friday. 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’s 50-day simple moving average is $449.99 and its two-hundred day simple moving average is $497.68. The stock has a market cap of $199.90 billion, a PE ratio of 37.03, a P/E/G ratio of 2.11 and a beta of 1.31. Adobe Inc. has a 52 week low of $403.75 and a 52 week high of $610.33.

Adobe (NASDAQ:ADBE) last posted its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, beating analysts’ consensus estimates of $4.67 by $0.14. The business had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.54 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The business’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period last year, the firm earned $3.52 earnings per share. As a group, analysts forecast that Adobe Inc. will post 16.65 EPS for the current fiscal year.

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.