Adobe Inc. (NASDAQ:ADBE) Shares Acquired by Asio Capital LLC

Asio Capital LLC boosted its stake in Adobe Inc. (NASDAQ:ADBE) by 18.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 12,585 shares of the software company’s stock after purchasing an additional 1,943 shares during the period. Adobe comprises approximately 1.1% of Asio Capital LLC’s portfolio, making the stock its 25th largest position. Asio Capital LLC’s holdings in Adobe were worth $5,596,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC raised its holdings in shares of Adobe by 66,909.7% in the 3rd quarter. International Assets Investment Management LLC now owns 1,378,390 shares of the software company’s stock valued at $713,703,000 after purchasing an additional 1,376,333 shares in the last quarter. FMR LLC raised its stake in Adobe by 8.8% in the third quarter. FMR LLC now owns 9,690,163 shares of the software company’s stock valued at $5,017,373,000 after buying an additional 787,356 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in Adobe by 42.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,168,584 shares of the software company’s stock worth $519,646,000 after buying an additional 347,536 shares during the last quarter. Seilern Investment Management Ltd acquired a new position in shares of Adobe during the 4th quarter worth about $110,744,000. Finally, Erste Asset Management GmbH purchased a new position in shares of Adobe in the 3rd quarter valued at about $126,703,000. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Adobe Price Performance

Adobe stock opened at $435.38 on Friday. The stock has a market capitalization of $189.52 billion, a P/E ratio of 35.11, a P/E/G ratio of 2.12 and a beta of 1.31. Adobe Inc. has a 12-month low of $403.75 and a 12-month high of $638.25. 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 firm’s 50-day moving average is $468.14 and its two-hundred day moving average is $508.06.

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

Insiders Place Their Bets

In other news, Director Amy Banse sold 606 shares of the firm’s 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 transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Jillian Forusz sold 676 shares of the stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $484.97, for a total transaction of $327,839.72. Following the sale, the chief accounting officer now directly owns 2,715 shares of the company’s stock, valued at approximately $1,316,693.55. This trade represents a 19.94 % decrease in their position. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Mizuho dropped 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 reduced their price objective on Adobe from $675.00 to $645.00 and set an “overweight” rating for the company in a research note on Thursday, December 12th. Bank of America decreased their price target on shares of Adobe from $640.00 to $605.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. Wells Fargo & Company dropped their price target on Adobe from $700.00 to $640.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Finally, BMO Capital Markets cut their price target on Adobe from $600.00 to $570.00 and set an “outperform” rating for the company in a research note on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $573.00.

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.