Adobe Inc. (NASDAQ:ADBE) Holdings Lifted by Next Capital Management LLC

Next Capital Management LLC boosted its holdings in Adobe Inc. (NASDAQ:ADBE) by 38.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 723 shares of the software company’s stock after acquiring an additional 200 shares during the quarter. Next Capital Management LLC’s holdings in Adobe were worth $322,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. First Financial Bankshares Inc lifted its stake in Adobe by 411.8% during the fourth quarter. First Financial Bankshares Inc now owns 39,390 shares of the software company’s stock valued at $17,516,000 after purchasing an additional 31,693 shares during the last quarter. Generali Investments Management Co LLC bought a new position in shares of Adobe in the fourth quarter valued at $3,025,000. GM Advisory Group LLC acquired a new stake in shares of Adobe during the 4th quarter valued at $355,000. Harvest Fund Management Co. Ltd boosted its stake in shares of Adobe by 10.0% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 25,969 shares of the software company’s stock worth $11,426,000 after acquiring an additional 2,359 shares in the last quarter. Finally, Vinva Investment Management Ltd grew its holdings in shares of Adobe by 6.6% in the 4th quarter. Vinva Investment Management Ltd now owns 21,913 shares of the software company’s stock worth $9,769,000 after acquiring an additional 1,362 shares during the last quarter. 81.79% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Adobe

In related news, Director David A. Ricks bought 2,250 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The shares were acquired at an average price of $443.98 per share, with a total value of $998,955.00. Following the completion of the transaction, the director now owns 4,984 shares of the company’s stock, valued at $2,212,796.32. The trade was a 82.30 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Scott Belsky sold 3,819 shares of the company’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $430.24, for a total transaction of $1,643,086.56. Following the transaction, the executive vice president now owns 18,334 shares of the company’s stock, valued at approximately $7,888,020.16. The trade was a 17.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,075 shares of company stock worth $2,191,826. Company insiders own 0.16% of the company’s stock.

Adobe Stock Performance

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 company has a market cap of $170.40 billion, a PE ratio of 31.56, a price-to-earnings-growth ratio of 2.15 and a beta of 1.37. The stock has a 50-day moving average of $435.77 and a 200-day moving average of $479.02. Adobe Inc. has a 52-week low of $374.50 and a 52-week high of $587.75.

Adobe (NASDAQ:ADBE) last released its quarterly earnings results on Wednesday, March 12th. The software company reported $5.08 EPS for the quarter, beating analysts’ consensus estimates 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 net margin of 25.85% and a return on equity of 45.87%. During the same quarter last year, the firm posted $4.48 earnings per share. As a group, equities research analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ADBE. TD Cowen downgraded Adobe from a “buy” rating to a “hold” rating and reduced their target price for the company from $625.00 to $550.00 in a report on Thursday, December 12th. Oppenheimer decreased their target price on shares of Adobe from $560.00 to $530.00 and set an “outperform” rating for the company in a report on Thursday, March 13th. Citigroup cut their price target on shares of Adobe from $551.00 to $490.00 and set a “neutral” rating on the stock in a report on Monday, March 10th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $475.00 price target (down previously from $600.00) on shares of Adobe in a research report on Wednesday, January 8th. Finally, BNP Paribas upgraded shares of Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 price objective on the stock in a research report on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Adobe has a consensus rating of “Moderate Buy” and an average price target of $542.00.

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.