Adobe Inc. (NASDAQ:ADBE) Shares Purchased by Plato Investment Management Ltd

Plato Investment Management Ltd increased its holdings in shares of Adobe Inc. (NASDAQ:ADBE) by 15.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,148 shares of the software company’s stock after acquiring an additional 2,068 shares during the period. Plato Investment Management Ltd’s holdings in Adobe were worth $6,760,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Proficio Capital Partners LLC boosted its position 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 worth $463,701,000 after purchasing an additional 1,041,513 shares in the last quarter. FMR LLC boosted its position in Adobe by 8.8% during the third quarter. FMR LLC now owns 9,690,163 shares of the software company’s stock worth $5,017,373,000 after purchasing an additional 787,356 shares in the last quarter. Assenagon Asset Management S.A. boosted its position 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 worth $519,646,000 after purchasing an additional 347,536 shares in the last quarter. Seilern Investment Management Ltd purchased a new stake in Adobe during the fourth quarter worth $110,744,000. Finally, Erste Asset Management GmbH purchased a new stake in Adobe during the third quarter worth $126,703,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Insider Activity

In other news, EVP Scott Belsky sold 922 shares of the stock in a transaction dated 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 sale, the executive vice president now owns 22,153 shares in the company, valued at approximately $9,687,063.84. This trade represents a 4.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David A. Ricks bought 2,250 shares of the stock in a transaction dated Tuesday, January 28th. The stock was bought at an average price of $443.98 per share, with a total value of $998,955.00. Following the purchase, 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 position. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 5,681 shares of company stock worth $2,525,126. 0.15% of the stock is currently owned by corporate insiders.

Adobe Stock Performance

Shares of NASDAQ:ADBE opened at $438.49 on Monday. The firm has a market capitalization of $190.87 billion, a PE ratio of 35.36, a P/E/G ratio of 2.15 and a beta of 1.31. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.07 and a quick ratio of 1.07. The business has a 50-day moving average of $439.71 and a two-hundred day moving average of $490.59. Adobe Inc. has a 12 month low of $403.75 and a 12 month high of $587.75.

Adobe (NASDAQ:ADBE) last posted its earnings results on Wednesday, December 11th. The software company reported $4.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.67 by $0.14. Adobe had a return on equity of 45.87% and a net margin of 25.85%. The business had revenue of $5.61 billion during the quarter, compared to analyst estimates of $5.54 billion. During the same quarter last year, the firm earned $3.52 earnings per share. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, research analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current year.

Analysts Set New Price Targets

ADBE has been the topic of a number of research analyst reports. Stifel Nicolaus decreased their target price on Adobe from $650.00 to $600.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Wells Fargo & Company reduced their price objective on Adobe from $700.00 to $640.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Oppenheimer reduced their price objective on Adobe from $625.00 to $600.00 and set an “outperform” rating on the stock in a research report on Thursday, December 12th. Barclays reduced their price objective on Adobe from $675.00 to $645.00 and set an “overweight” rating on the stock in a research report on Thursday, December 12th. Finally, Jefferies Financial Group reduced their price objective on Adobe from $700.00 to $650.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $570.88.

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.