Adobe Inc. (NASDAQ:ADBE) Holdings Raised by Vista Investment Management

Vista Investment Management lifted its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 3.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 875 shares of the software company’s stock after purchasing an additional 26 shares during the quarter. Vista Investment Management’s holdings in Adobe were worth $389,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of ADBE. Geode Capital Management LLC boosted its position in Adobe by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 10,680,375 shares of the software company’s stock worth $4,739,788,000 after acquiring an additional 151,286 shares during the period. Norges Bank acquired a new stake in Adobe during the 4th quarter worth about $2,553,035,000. Northern Trust Corp boosted its position in Adobe by 14.5% during the 4th quarter. Northern Trust Corp now owns 5,314,215 shares of the software company’s stock worth $2,363,125,000 after acquiring an additional 672,919 shares during the period. Edgewood Management LLC boosted its position in Adobe by 20.7% during the 4th 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 period. Finally, Deutsche Bank AG lifted its holdings in shares of Adobe by 4.0% during the 4th quarter. Deutsche Bank AG now owns 3,496,967 shares of the software company’s stock valued at $1,555,031,000 after buying an additional 133,556 shares during the last quarter. 81.79% of the stock is currently owned by institutional investors.

Insider Activity at Adobe

In related news, CFO Daniel Durn bought 1,300 shares of the business’s stock in a transaction on Thursday, March 20th. The shares were purchased at an average price of $390.58 per share, with a total value of $507,754.00. Following the completion of the purchase, the chief financial officer now owns 29,876 shares of the company’s stock, valued at $11,668,968.08. This represents a 4.55% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.16% of the stock is owned by company insiders.

Adobe Price Performance

Shares of ADBE stock opened at $420.68 on Tuesday. The stock’s fifty day moving average is $375.32 and its 200-day moving average is $433.19. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07. The stock has a market capitalization of $179.29 billion, a PE ratio of 33.93, a PEG ratio of 2.15 and a beta of 1.55. Adobe Inc. has a 52 week low of $332.01 and a 52 week high of $587.75.

Adobe (NASDAQ:ADBE) last announced its earnings results on Wednesday, March 12th. The software company reported $5.08 EPS for the quarter, topping the consensus estimate of $4.97 by $0.11. The company had revenue of $5.71 billion for the quarter, compared to analysts’ expectations 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 earned $4.48 earnings per share. Equities research analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently issued reports on ADBE. Morgan Stanley reduced their price target on Adobe from $600.00 to $510.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. UBS Group reduced their price target on Adobe from $410.00 to $380.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Stifel Nicolaus reduced their price target on Adobe from $600.00 to $525.00 and set a “buy” rating for the company in a report on Thursday, March 13th. KeyCorp upgraded Adobe from an “underweight” rating to a “sector weight” rating in a report on Friday, March 21st. Finally, Mizuho reduced their target price on Adobe from $620.00 to $575.00 and set an “outperform” rating for the company in a report on Thursday, March 13th. Eleven analysts have rated the stock with 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, Adobe has an average rating of “Moderate Buy” and a consensus price target of $502.88.

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.