American Century Companies Inc. Raises Position in Adobe Inc. (NASDAQ:ADBE)

American Century Companies Inc. boosted its stake in Adobe Inc. (NASDAQ:ADBE) by 16.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 449,889 shares of the software company’s stock after buying an additional 63,991 shares during the period. American Century Companies Inc. owned 0.10% of Adobe worth $200,057,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in ADBE. Swedbank AB lifted its holdings in shares of Adobe by 0.3% during the third quarter. Swedbank AB now owns 1,196,175 shares of the software company’s stock valued at $619,355,000 after purchasing an additional 3,739 shares during the last quarter. United Bank lifted its holdings in shares of Adobe by 19.7% during the third quarter. United Bank now owns 2,596 shares of the software company’s stock valued at $1,344,000 after purchasing an additional 428 shares during the last quarter. Landscape Capital Management L.L.C. purchased a new position in shares of Adobe during the third quarter valued at approximately $1,099,000. Integrated Investment Consultants LLC lifted its holdings in shares of Adobe by 45.3% during the third quarter. Integrated Investment Consultants LLC now owns 632 shares of the software company’s stock valued at $327,000 after purchasing an additional 197 shares during the last quarter. Finally, Eagle Asset Management Inc. lifted its holdings in shares of Adobe by 13.9% during the third quarter. Eagle Asset Management Inc. now owns 16,839 shares of the software company’s stock valued at $8,330,000 after purchasing an additional 2,052 shares during the last quarter. 81.79% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Adobe news, Director David A. Ricks purchased 2,250 shares of the business’s stock in a transaction on Tuesday, January 28th. The stock was acquired at an average price of $443.98 per share, for a total transaction of $998,955.00. Following the purchase, the director now owns 4,984 shares of the company’s stock, valued at approximately $2,212,796.32. This represents a 82.30 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Daniel Durn acquired 1,300 shares of the company’s stock in a transaction on Thursday, March 20th. The shares were bought at an average cost of $390.58 per share, with a total value of $507,754.00. Following the acquisition, the chief financial officer now directly owns 29,876 shares in the company, valued at approximately $11,668,968.08. The trade was a 4.55 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders sold 5,075 shares of company stock worth $2,191,826. Corporate insiders own 0.16% of the company’s stock.

Analyst Upgrades and Downgrades

ADBE has been the subject of several recent research reports. BMO Capital Markets lowered their target price on shares of Adobe from $515.00 to $495.00 and set an “outperform” rating for the company in a report on Thursday, March 13th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $475.00 price target (down previously from $600.00) on shares of Adobe in a research report on Wednesday, January 8th. Sanford C. Bernstein reduced their price target on shares of Adobe from $644.00 to $587.00 and set an “outperform” rating for the company in a research report on Thursday, December 12th. Stifel Nicolaus reduced their price target on shares of Adobe from $600.00 to $525.00 and set a “buy” rating for the company in a research report on Thursday, March 13th. Finally, Morgan Stanley reduced their price target on shares of Adobe from $660.00 to $600.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Eleven investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Adobe presently has a consensus rating of “Moderate Buy” and a consensus target price of $538.80.

Adobe Trading Down 0.6 %

Shares of ADBE stock opened at $387.26 on Friday. Adobe Inc. has a 1 year low of $374.50 and a 1 year high of $587.75. The firm has a fifty day moving average price of $434.16 and a 200-day moving average price of $475.80. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. The company has a market cap of $168.62 billion, a price-to-earnings ratio of 31.23, a PEG ratio of 2.15 and a beta of 1.37.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings data on Wednesday, March 12th. The software company reported $5.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $5.66 billion. During the same quarter in the previous year, the firm posted $4.48 EPS. As a group, equities analysts predict that Adobe Inc. will post 16.65 earnings per share for the current year.

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.