Headlands Technologies LLC Buys New Shares in Adobe Inc. (NASDAQ:ADBE)

Headlands Technologies LLC acquired a new stake in shares of Adobe Inc. (NASDAQ:ADBE) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 3,435 shares of the software company’s stock, valued at approximately $1,527,000.

Several other hedge funds have also made changes to their positions in ADBE. Legacy Investment Solutions LLC bought a new stake in shares of Adobe in the 3rd quarter worth approximately $26,000. Groupama Asset Managment lifted its position in Adobe by 28.8% in the third quarter. Groupama Asset Managment now owns 51,482 shares of the software company’s stock worth $27,000 after purchasing an additional 11,522 shares during the period. Decker Retirement Planning Inc. acquired a new stake in Adobe during the fourth quarter worth $31,000. Summit Securities Group LLC bought a new stake in Adobe in the 4th quarter valued at $31,000. Finally, Caitlin John LLC raised its stake in shares of Adobe by 171.4% in the 4th quarter. Caitlin John LLC now owns 76 shares of the software company’s stock valued at $34,000 after buying an additional 48 shares in the last quarter. Institutional investors own 81.79% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Redburn Atlantic initiated coverage on shares of Adobe in a research note on Wednesday, February 19th. They issued a “neutral” rating on the stock. StockNews.com downgraded Adobe from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 4th. Royal Bank of Canada reiterated an “outperform” rating and issued a $530.00 price target on shares of Adobe in a research report on Wednesday, March 19th. Summit Redstone set a $410.00 target price on shares of Adobe in a research note on Wednesday, March 19th. Finally, Barclays dropped their target price on shares of Adobe from $675.00 to $645.00 and set an “overweight” rating for the company in a research report on Thursday, December 12th. Eleven research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Adobe has a consensus rating of “Moderate Buy” and an average target price of $531.54.

Adobe Stock Down 0.1 %

Adobe stock opened at $383.20 on Wednesday. The firm has a market capitalization of $163.32 billion, a price-to-earnings ratio of 30.90, a PEG ratio of 2.15 and a beta of 1.37. The company’s 50 day simple moving average is $429.81 and its 200 day simple moving average is $466.40. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. Adobe Inc. has a fifty-two week low of $374.50 and a fifty-two week high of $587.75.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data 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 business had revenue of $5.71 billion during the quarter, compared to analysts’ expectations 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 company earned $4.48 EPS. As a group, sell-side analysts anticipate that Adobe Inc. will post 16.65 EPS for the current year.

Insider Transactions at Adobe

In other Adobe news, EVP Scott Belsky sold 3,819 shares of Adobe stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $430.24, for a total value 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Daniel Durn acquired 1,300 shares of the company’s stock in a transaction that occurred on Thursday, March 20th. The shares were bought at an average price of $390.58 per share, for a total transaction of $507,754.00. Following the completion of the acquisition, the chief financial officer now owns 29,876 shares of the company’s stock, valued at $11,668,968.08. This trade represents a 4.55 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 5,075 shares of company stock valued at $2,191,826 over the last 90 days. 0.16% of the stock is owned by company 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.