Adobe Inc. (NASDAQ:ADBE) Shares Purchased by NWI Management LP

NWI Management LP raised its stake in Adobe Inc. (NASDAQ:ADBE) by 2,000.0% in the first quarter, HoldingsChannel reports. The fund owned 52,500 shares of the software company’s stock after purchasing an additional 50,000 shares during the period. Adobe accounts for approximately 0.8% of NWI Management LP’s investment portfolio, making the stock its 9th largest holding. NWI Management LP’s holdings in Adobe were worth $26,492,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Tradewinds Capital Management LLC raised its position in Adobe by 266.7% in the 1st quarter. Tradewinds Capital Management LLC now owns 55 shares of the software company’s stock valued at $28,000 after purchasing an additional 40 shares in the last quarter. Salomon & Ludwin LLC lifted its holdings in shares of Adobe by 346.2% in the 1st quarter. Salomon & Ludwin LLC now owns 58 shares of the software company’s stock valued at $29,000 after buying an additional 45 shares during the period. Wetzel Investment Advisors Inc. acquired a new position in Adobe during the fourth quarter worth $35,000. Steph & Co. raised its holdings in Adobe by 63.8% during the first quarter. Steph & Co. now owns 77 shares of the software company’s stock worth $39,000 after purchasing an additional 30 shares during the last quarter. Finally, Vima LLC purchased a new position in Adobe during the fourth quarter worth $55,000. 81.79% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Adobe

In other news, EVP Scott Belsky sold 481 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $537.00, for a total transaction of $258,297.00. Following the completion of the transaction, the executive vice president now directly owns 19,658 shares of the company’s stock, valued at approximately $10,556,346. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Scott Belsky sold 481 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $537.00, for a total transaction of $258,297.00. Following the sale, the executive vice president now directly owns 19,658 shares in the company, valued at approximately $10,556,346. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Mark S. Garfield sold 264 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $525.51, for a total transaction of $138,734.64. Following the sale, the chief accounting officer now owns 2,740 shares in the company, valued at $1,439,897.40. The disclosure for this sale can be found here. Insiders sold a total of 30,236 shares of company stock valued at $16,281,053 over the last three months. Corporate insiders own 0.15% of the company’s stock.

Adobe Trading Up 1.9 %

Shares of Adobe stock traded up $10.29 during trading on Friday, hitting $542.44. The company’s stock had a trading volume of 2,090,007 shares, compared to its average volume of 2,424,248. The stock has a market cap of $240.52 billion, a price-to-earnings ratio of 48.74, a price-to-earnings-growth ratio of 2.83 and a beta of 1.30. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.16 and a quick ratio of 1.16. Adobe Inc. has a 52 week low of $433.97 and a 52 week high of $638.25. The stock has a 50-day moving average price of $516.90 and a two-hundred day moving average price of $529.95.

Adobe (NASDAQ:ADBE) last announced its quarterly earnings data on Thursday, June 13th. The software company reported $4.48 earnings per share for the quarter, beating the consensus estimate of $4.39 by $0.09. The firm had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.29 billion. Adobe had a net margin of 24.86% and a return on equity of 40.67%. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.04 earnings per share. Equities research analysts anticipate that Adobe Inc. will post 14.69 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on ADBE shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $600.00 price objective on shares of Adobe in a research report on Friday, June 14th. Melius downgraded Adobe from a “buy” rating to a “hold” rating and set a $510.00 price target for the company. in a report on Monday, June 10th. Citigroup reduced their target price on Adobe from $554.00 to $529.00 and set a “neutral” rating on the stock in a report on Monday, June 10th. Stifel Nicolaus reduced their target price on Adobe from $625.00 to $600.00 and set a “buy” rating on the stock in a report on Friday, June 7th. Finally, Wells Fargo & Company increased their price target on Adobe from $675.00 to $700.00 and gave the stock an “overweight” rating in a research report on Friday, June 14th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-one have issued a buy rating to the company. According to MarketBeat, Adobe has a consensus rating of “Moderate Buy” and a consensus target price of $603.33.

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.