Warm Springs Advisors Inc. Purchases New Shares in Adobe Inc. (NASDAQ:ADBE)

Warm Springs Advisors Inc. acquired a new position in shares of Adobe Inc. (NASDAQ:ADBE) in the 4th quarter, Holdings Channel.com reports. The fund acquired 3,711 shares of the software company’s stock, valued at approximately $1,650,000. Adobe makes up 1.5% of Warm Springs Advisors Inc.’s holdings, making the stock its 21st biggest position.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Adobe during the 4th quarter worth about $2,553,035,000. Proficio Capital Partners LLC boosted its position in shares of Adobe by 82,528.8% during the fourth quarter. Proficio Capital Partners LLC now owns 1,042,775 shares of the software company’s stock valued at $463,701,000 after buying an additional 1,041,513 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in shares of Adobe by 82.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,107,788 shares of the software company’s stock valued at $937,291,000 after buying an additional 952,233 shares during the period. Two Sigma Advisers LP grew its stake in shares of Adobe by 1,414.5% during the fourth quarter. Two Sigma Advisers LP now owns 889,000 shares of the software company’s stock valued at $395,321,000 after buying an additional 830,300 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Adobe by 225.9% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,075,945 shares of the software company’s stock worth $478,453,000 after buying an additional 745,827 shares during the period. 81.79% of the stock is owned by hedge funds and other institutional investors.

Adobe Trading Down 1.6%

Shares of NASDAQ:ADBE opened at $407.69 on Friday. 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 company has a market capitalization of $173.76 billion, a PE ratio of 32.88, a P/E/G ratio of 2.15 and a beta of 1.55. Adobe Inc. has a 12-month low of $332.01 and a 12-month high of $587.75. The business’s fifty day simple moving average is $377.13 and its 200-day simple moving average is $431.95.

Adobe (NASDAQ:ADBE) last posted its earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.97 by $0.11. The company had revenue of $5.71 billion for the quarter, compared to analyst estimates 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 previous year, the firm earned $4.48 earnings per share. As a group, equities research analysts predict that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Daniel Durn acquired 1,300 shares of Adobe stock in a transaction that occurred on Thursday, March 20th. The stock was purchased at an average price of $390.58 per share, for a total transaction of $507,754.00. Following the purchase, the chief financial officer now directly owns 29,876 shares in the company, valued at $11,668,968.08. The trade was a 4.55% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.16% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Mizuho dropped their price objective on Adobe from $620.00 to $575.00 and set an “outperform” rating for the company in a report on Thursday, March 13th. Summit Redstone set a $410.00 target price on shares of Adobe in a research note on Wednesday, March 19th. Wall Street Zen raised shares of Adobe from a “hold” rating to a “buy” rating in a research note on Thursday. Citigroup lowered their price objective on shares of Adobe from $551.00 to $490.00 and set a “neutral” rating for the company in a research report on Monday, March 10th. Finally, UBS Group dropped their target price on shares of Adobe from $410.00 to $380.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Eleven analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price 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.