Adobe Inc. (NASDAQ:ADBE) Shares Acquired by SGL Investment Advisors Inc.

SGL Investment Advisors Inc. increased its position in shares of Adobe Inc. (NASDAQ:ADBE) by 36.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,498 shares of the software company’s stock after buying an additional 2,784 shares during the quarter. Adobe comprises 2.5% of SGL Investment Advisors Inc.’s investment portfolio, making the stock its 14th biggest holding. SGL Investment Advisors Inc.’s holdings in Adobe were worth $4,858,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in ADBE. Geode Capital Management LLC grew its stake in shares of Adobe by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 10,680,375 shares of the software company’s stock valued at $4,739,788,000 after purchasing an additional 151,286 shares during the last quarter. Norges Bank acquired a new position in Adobe during the fourth quarter worth $2,553,035,000. Northern Trust Corp raised its holdings in Adobe by 14.5% during the fourth quarter. Northern Trust Corp now owns 5,314,215 shares of the software company’s stock worth $2,363,125,000 after purchasing an additional 672,919 shares during the last quarter. Edgewood Management LLC raised its holdings in shares of Adobe by 20.7% in the fourth quarter. Edgewood Management LLC now owns 4,059,119 shares of the software company’s stock worth $1,805,009,000 after acquiring an additional 696,172 shares during the last quarter. Finally, Deutsche Bank AG raised its holdings in shares of Adobe by 4.0% in the fourth quarter. Deutsche Bank AG now owns 3,496,967 shares of the software company’s stock worth $1,555,031,000 after acquiring an additional 133,556 shares during the last quarter. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Adobe Price Performance

Shares of NASDAQ ADBE opened at $404.69 on Friday. The company has a market capitalization of $172.48 billion, a price-to-earnings ratio of 32.64, a PEG ratio of 2.15 and a beta of 1.55. Adobe Inc. has a 1-year low of $332.01 and a 1-year high of $587.75. 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 business has a 50-day moving average of $376.01 and a 200-day moving average of $434.77.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Wednesday, March 12th. The software company reported $5.08 EPS for the quarter, beating analysts’ consensus estimates of $4.97 by $0.11. The firm 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 in the prior year, the business posted $4.48 earnings per share. On average, equities analysts anticipate that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Daniel Durn bought 1,300 shares of Adobe stock in a transaction on Thursday, March 20th. The shares were bought at an average price 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. This represents a 4.55% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.16% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

ADBE has been the subject of a number of analyst reports. Bank of America cut their price target on Adobe from $605.00 to $528.00 and set a “buy” rating for the company in a report on Thursday, March 13th. KeyCorp raised Adobe from an “underweight” rating to a “sector weight” rating in a report on Friday, March 21st. Wells Fargo & Company cut their price target on Adobe from $600.00 to $430.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. Oppenheimer dropped their target price on Adobe from $560.00 to $530.00 and set an “outperform” rating for the company in a research note on Thursday, March 13th. Finally, Jefferies Financial Group dropped their target price on Adobe from $650.00 to $590.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Eleven equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $502.88.

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.