Versor Investments LP Grows Stake in Adobe Inc. (NASDAQ:ADBE)

Versor Investments LP increased its holdings in Adobe Inc. (NASDAQ:ADBE) by 84.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,135 shares of the software company’s stock after purchasing an additional 2,358 shares during the period. Versor Investments LP’s holdings in Adobe were worth $2,283,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Swedbank AB increased its holdings in Adobe by 0.3% in the 3rd quarter. Swedbank AB now owns 1,196,175 shares of the software company’s stock valued at $619,355,000 after acquiring an additional 3,739 shares during the last quarter. Hunter Associates Investment Management LLC grew its position in shares of Adobe by 28.9% during the third quarter. Hunter Associates Investment Management LLC now owns 891 shares of the software company’s stock valued at $463,000 after purchasing an additional 200 shares in the last quarter. Cantor Fitzgerald Investment Advisors L.P. bought a new stake in shares of Adobe in the third quarter worth about $435,000. Fortitude Family Office LLC lifted its position in shares of Adobe by 31.1% in the third quarter. Fortitude Family Office LLC now owns 173 shares of the software company’s stock worth $90,000 after buying an additional 41 shares in the last quarter. Finally, Integrated Advisors Network LLC boosted its stake in Adobe by 34.6% during the third quarter. Integrated Advisors Network LLC now owns 5,927 shares of the software company’s stock valued at $3,069,000 after buying an additional 1,522 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors.

Insider Transactions at Adobe

In related news, Director Amy Banse sold 606 shares of the company’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $550.00, for a total transaction 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 represents a 1.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Jillian Forusz sold 334 shares of Adobe stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $435.83, for a total value of $145,567.22. Following the completion of the transaction, the chief accounting officer now owns 2,685 shares in the company, valued at $1,170,203.55. This trade represents a 11.06 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,681 shares of company stock valued at $2,525,126. Company insiders own 0.15% of the company’s stock.

Adobe Trading Down 0.4 %

Shares of NASDAQ ADBE opened at $441.50 on Thursday. Adobe Inc. has a twelve month low of $403.75 and a twelve month high of $587.75. The firm has a market cap of $192.18 billion, a PE ratio of 35.60, a price-to-earnings-growth ratio of 2.15 and a beta of 1.31. The business has a fifty day simple moving average of $439.88 and a two-hundred day simple moving average of $492.27. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29.

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

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on ADBE shares. Oppenheimer reduced their price objective on Adobe from $625.00 to $600.00 and set an “outperform” rating on the stock in a research note on Thursday, December 12th. Mizuho decreased their price target on shares of Adobe from $640.00 to $620.00 and set an “outperform” rating on the stock in a research note on Thursday, December 12th. Barclays lowered their price objective on shares of Adobe from $675.00 to $645.00 and set an “overweight” rating for the company in a research report on Thursday, December 12th. Jefferies Financial Group reduced their target price on shares of Adobe from $700.00 to $650.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Finally, Citigroup lowered their price target on shares of Adobe from $616.00 to $590.00 and set a “neutral” rating for the company in a report on Monday, December 9th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Adobe presently has an average rating of “Moderate Buy” and an average target price of $570.88.

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.