ATOMVEST Ltd Invests $12.81 Million in Adobe Inc. (NASDAQ:ADBE)

ATOMVEST Ltd purchased a new stake in Adobe Inc. (NASDAQ:ADBE) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 28,800 shares of the software company’s stock, valued at approximately $12,807,000. Adobe comprises 17.8% of ATOMVEST Ltd’s portfolio, making the stock its 3rd largest holding.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC grew its position in shares of Adobe by 82,528.8% during the 4th quarter. Proficio Capital Partners LLC now owns 1,042,775 shares of the software company’s stock worth $463,701,000 after buying 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. acquired a new position in Adobe during the fourth quarter valued at approximately $243,827,000. Assenagon Asset Management S.A. raised its holdings in Adobe by 42.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,168,584 shares of the software company’s stock worth $519,646,000 after purchasing an additional 347,536 shares during the period. Finally, Seilern Investment Management Ltd bought a new position in shares of Adobe during the fourth quarter worth $110,744,000. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Adobe Trading Up 1.9 %

ADBE stock opened at $394.47 on Tuesday. Adobe Inc. has a 52 week low of $374.50 and a 52 week high of $587.75. The company has a market capitalization of $171.75 billion, a PE ratio of 31.81, a price-to-earnings-growth ratio of 2.15 and a beta of 1.37. The company’s 50-day simple moving average is $433.88 and its 200 day simple moving average is $473.88. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07.

Adobe (NASDAQ:ADBE) last announced its earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.97 by $0.11. The firm 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 in the prior year, the business posted $4.48 EPS. As a group, sell-side analysts anticipate that Adobe Inc. will post 16.65 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages recently commented on ADBE. JPMorgan Chase & Co. dropped their price objective on Adobe from $580.00 to $540.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Sanford C. Bernstein cut their price objective on Adobe from $644.00 to $587.00 and set an “outperform” rating on the stock in a report on Thursday, December 12th. TD Cowen lowered Adobe from a “buy” rating to a “hold” rating and decreased their price objective for the company from $625.00 to $550.00 in a research report on Thursday, December 12th. Mizuho dropped their target price on shares of Adobe from $620.00 to $575.00 and set an “outperform” rating on the stock in a report on Thursday, March 13th. Finally, StockNews.com cut shares of Adobe from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 4th. Eleven analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $538.80.

Insider Transactions at Adobe

In other news, CFO Daniel Durn purchased 1,300 shares of Adobe stock in a transaction that occurred on Thursday, March 20th. The shares were acquired at an average price of $390.58 per share, for a total transaction of $507,754.00. Following the transaction, the chief financial officer now owns 29,876 shares of the company’s stock, valued at approximately $11,668,968.08. The trade was a 4.55 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director David A. Ricks acquired 2,250 shares of the stock in a transaction on Tuesday, January 28th. The shares were purchased 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 approximately $2,212,796.32. This represents a 82.30 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have sold 5,075 shares of company stock valued at $2,191,826. 0.16% of the stock is owned by corporate insiders.

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.