Natural Investments LLC Invests $3.36 Million in Adobe Inc. (NASDAQ:ADBE)

Natural Investments LLC acquired a new position in shares of Adobe Inc. (NASDAQ:ADBE) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 7,556 shares of the software company’s stock, valued at approximately $3,360,000. Adobe accounts for about 0.9% of Natural Investments LLC’s portfolio, making the stock its 21st biggest position.

Other hedge funds have also recently bought and sold shares of the company. Nordea Investment Management AB boosted its holdings in Adobe by 2.0% in the fourth quarter. Nordea Investment Management AB now owns 1,712,616 shares of the software company’s stock valued at $765,094,000 after acquiring an additional 33,414 shares during the last quarter. Arizona State Retirement System boosted its position in shares of Adobe by 0.4% during the fourth quarter. Arizona State Retirement System now owns 127,696 shares of the software company’s stock worth $56,784,000 after buying an additional 570 shares during the period. Public Sector Pension Investment Board increased its holdings in shares of Adobe by 12.2% in the third quarter. Public Sector Pension Investment Board now owns 19,322 shares of the software company’s stock valued at $10,005,000 after buying an additional 2,100 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its position in Adobe by 201.0% during the third quarter. Jacobs Levy Equity Management Inc. now owns 117,383 shares of the software company’s stock valued at $60,779,000 after acquiring an additional 78,384 shares in the last quarter. Finally, Morse Asset Management Inc raised its stake in shares of Adobe by 33.0% in the 3rd quarter. Morse Asset Management Inc now owns 8,519 shares of the software company’s stock valued at $4,411,000 after acquiring an additional 2,113 shares in the last quarter. 81.79% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ADBE has been the subject of several recent analyst reports. BMO Capital Markets set a $515.00 price objective on Adobe and gave the stock an “outperform” rating in a research note on Friday. Redburn Atlantic initiated coverage on Adobe in a research report on Wednesday, February 19th. They issued a “neutral” rating on the stock. JMP Securities restated a “market perform” rating on shares of Adobe in a research note on Thursday, December 12th. BNP Paribas raised Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 price target on the stock in a research note on Wednesday, January 15th. Finally, Royal Bank of Canada dropped their price objective on Adobe from $590.00 to $550.00 and set an “outperform” rating on the stock in a research note on Friday. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $563.96.

Insider Activity

In other Adobe news, EVP Scott Belsky sold 922 shares of the business’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $437.28, for a total value of $403,172.16. Following the sale, the executive vice president now owns 22,153 shares in the company, valued at $9,687,063.84. The trade was a 4.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David A. Ricks acquired 2,250 shares of Adobe stock in a transaction that occurred on Tuesday, January 28th. The stock was purchased at an average cost of $443.98 per share, for a total transaction of $998,955.00. Following the completion of the transaction, the director now directly owns 4,984 shares in the company, valued at $2,212,796.32. This trade represents a 82.30 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 5,075 shares of company stock worth $2,191,826. Corporate insiders own 0.15% of the company’s stock.

Adobe Stock Performance

ADBE opened at $435.08 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 company’s fifty day moving average price is $439.35 and its two-hundred day moving average price is $485.74. The company has a market cap of $189.44 billion, a price-to-earnings ratio of 35.09, a PEG ratio of 2.15 and a beta of 1.37. Adobe Inc. has a 1-year low of $403.75 and a 1-year high of $587.75.

Adobe (NASDAQ:ADBE) last posted its earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share 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 business had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.54 billion. During the same quarter in the prior year, the firm posted $3.52 EPS. Adobe’s revenue was up 11.1% on a year-over-year basis. On average, analysts expect that Adobe Inc. will post 16.65 EPS for the current fiscal year.

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.