Vinva Investment Management Ltd Buys 1,362 Shares of Adobe Inc. (NASDAQ:ADBE)

Vinva Investment Management Ltd raised its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 6.6% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 21,913 shares of the software company’s stock after purchasing an additional 1,362 shares during the period. Vinva Investment Management Ltd’s holdings in Adobe were worth $9,769,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of ADBE. Proficio Capital Partners LLC grew its holdings in 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 purchasing an additional 1,041,513 shares during the period. FMR LLC grew its holdings in Adobe by 8.8% during the third quarter. FMR LLC now owns 9,690,163 shares of the software company’s stock valued at $5,017,373,000 after purchasing an additional 787,356 shares during the period. Raymond James Financial Inc. bought a new stake in Adobe during the fourth quarter valued at about $243,827,000. Assenagon Asset Management S.A. grew its holdings in Adobe by 42.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,168,584 shares of the software company’s stock valued at $519,646,000 after purchasing an additional 347,536 shares during the period. Finally, Seilern Investment Management Ltd bought a new stake in Adobe during the fourth quarter valued at about $110,744,000. Institutional investors own 81.79% of the company’s stock.

Insider Buying and Selling

In related news, CAO Jillian Forusz sold 334 shares of the stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total value of $145,567.22. Following the transaction, the chief accounting officer now owns 2,685 shares of the company’s stock, valued at $1,170,203.55. This represents a 11.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Scott Belsky sold 922 shares of the stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $437.28, for a total value of $403,172.16. Following the completion of the transaction, the executive vice president now directly owns 22,153 shares in the company, valued at approximately $9,687,063.84. This trade represents a 4.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,075 shares of company stock valued at $2,191,826 over the last quarter. 0.16% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

ADBE has been the subject of several recent research reports. Evercore ISI cut their price target on Adobe from $650.00 to $550.00 and set an “outperform” rating for the company in a report on Thursday, March 13th. Morgan Stanley dropped their price objective on Adobe from $660.00 to $600.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Oppenheimer dropped their price objective on Adobe from $560.00 to $530.00 and set an “outperform” rating for the company in a research note on Thursday, March 13th. Wells Fargo & Company dropped their price objective on Adobe from $640.00 to $600.00 and set an “overweight” rating for the company in a research note on Friday, March 7th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $475.00 price objective (down previously from $600.00) on shares of Adobe in a research note on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Adobe currently has an average rating of “Moderate Buy” and an average price target of $542.00.

Adobe Trading Down 2.0 %

Shares of NASDAQ ADBE opened at $391.37 on Wednesday. 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 business’s 50 day moving average price is $435.77 and its 200-day moving average price is $479.02. Adobe Inc. has a fifty-two week low of $374.50 and a fifty-two week high of $587.75. The company has a market cap of $170.40 billion, a price-to-earnings ratio of 31.56, a PEG ratio of 2.15 and a beta of 1.37.

Adobe (NASDAQ:ADBE) last issued its quarterly earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share for the quarter, topping the consensus estimate of $4.97 by $0.11. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The firm had revenue of $5.71 billion for the quarter, compared to the consensus estimate of $5.66 billion. During the same period in the prior year, the business posted $4.48 earnings per share. On average, sell-side analysts expect that Adobe Inc. will post 16.65 earnings per share for the current 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.