Adobe Inc. (NASDAQ:ADBE) Shares Purchased by Xponance Inc.

Xponance Inc. increased its position in Adobe Inc. (NASDAQ:ADBE) by 2.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 110,472 shares of the software company’s stock after purchasing an additional 2,167 shares during the period. Adobe comprises about 0.4% of Xponance Inc.’s investment portfolio, making the stock its 28th biggest holding. Xponance Inc.’s holdings in Adobe were worth $49,125,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ADBE. Intech Investment Management LLC raised its position in shares of Adobe by 87.2% during the fourth quarter. Intech Investment Management LLC now owns 166,718 shares of the software company’s stock valued at $74,136,000 after buying an additional 77,666 shares during the last quarter. Generali Asset Management SPA SGR acquired a new stake in Adobe in the fourth quarter worth $20,408,000. Advisors Asset Management Inc. raised its holdings in Adobe by 8.6% in the fourth quarter. Advisors Asset Management Inc. now owns 22,219 shares of the software company’s stock worth $9,880,000 after purchasing an additional 1,761 shares during the period. Retirement Planning Co of New England Inc. acquired a new stake in shares of Adobe during the fourth quarter worth $285,000. Finally, RD Lewis Holdings Inc. bought a new position in Adobe in the fourth quarter valued at $248,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Adobe Stock Up 1.2 %

Adobe stock opened at $399.34 on Tuesday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29. The stock has a 50 day moving average of $436.39 and a two-hundred day moving average of $480.30. The stock has a market capitalization of $173.88 billion, a price-to-earnings ratio of 32.20, a PEG ratio of 2.15 and a beta of 1.37. Adobe Inc. has a twelve month low of $374.50 and a twelve month high of $587.75.

Adobe (NASDAQ:ADBE) last released its quarterly earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share for the quarter, topping the consensus estimate of $4.97 by $0.11. The company had revenue of $5.71 billion during the quarter, compared to the consensus estimate of $5.66 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. During the same quarter last year, the business posted $4.48 earnings per share. As a group, research analysts expect that Adobe Inc. will post 16.65 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently commented on ADBE. Mizuho decreased their price objective on shares of Adobe from $620.00 to $575.00 and set an “outperform” rating for the company in a research report on Thursday, March 13th. BNP Paribas upgraded shares of Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 target price for the company in a research report on Wednesday, January 15th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $475.00 target price (down from $600.00) on shares of Adobe in a report on Wednesday, January 8th. Barclays reduced their target price on shares of Adobe from $675.00 to $645.00 and set an “overweight” rating on the stock in a report on Thursday, December 12th. Finally, JMP Securities reiterated a “market perform” rating on shares of Adobe in a research report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $540.60.

Insiders Place Their Bets

In related news, Director David A. Ricks purchased 2,250 shares of the company’s stock in a transaction dated Tuesday, January 28th. The shares were acquired at an average cost of $443.98 per share, with a total value of $998,955.00. Following the completion of the purchase, the director now owns 4,984 shares of the company’s stock, valued at $2,212,796.32. The trade was a 82.30 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Jillian Forusz sold 334 shares of the stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total transaction of $145,567.22. Following the transaction, the chief accounting officer now directly owns 2,685 shares in the company, valued at $1,170,203.55. The trade was a 11.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,075 shares of company stock worth $2,191,826 over the last quarter. 0.16% of the stock is owned by corporate insiders.

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.