Vision Financial Markets LLC Buys Shares of 2,076 Adobe Inc. (NASDAQ:ADBE)

Vision Financial Markets LLC bought a new stake in Adobe Inc. (NASDAQ:ADBE) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,076 shares of the software company’s stock, valued at approximately $923,000. Adobe accounts for about 1.0% of Vision Financial Markets LLC’s holdings, making the stock its 19th biggest position.

Other hedge funds have also recently added to or reduced their stakes in the company. Nordea Investment Management AB lifted its stake in Adobe by 2.0% in the fourth quarter. Nordea Investment Management AB now owns 1,712,616 shares of the software company’s stock valued at $765,094,000 after buying an additional 33,414 shares during the period. Public Sector Pension Investment Board lifted its stake in Adobe by 12.2% in the third quarter. Public Sector Pension Investment Board now owns 19,322 shares of the software company’s stock valued at $10,005,000 after buying an additional 2,100 shares during the period. Jacobs Levy Equity Management Inc. lifted its stake in Adobe by 201.0% in the third quarter. Jacobs Levy Equity Management Inc. now owns 117,383 shares of the software company’s stock valued at $60,779,000 after buying an additional 78,384 shares during the period. Morse Asset Management Inc increased its holdings in shares of Adobe by 33.0% in the third quarter. Morse Asset Management Inc now owns 8,519 shares of the software company’s stock worth $4,411,000 after acquiring an additional 2,113 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in shares of Adobe by 1.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 99,150 shares of the software company’s stock worth $44,090,000 after acquiring an additional 1,326 shares in the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on ADBE shares. Redburn Atlantic started coverage on Adobe in a report on Wednesday, February 19th. They issued a “neutral” rating for the company. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $475.00 price target (down from $600.00) on shares of Adobe in a report on Wednesday, January 8th. StockNews.com downgraded Adobe from a “strong-buy” rating to a “buy” rating in a report on Tuesday. BNP Paribas upgraded Adobe from an “underperform” rating to a “neutral” rating and set a $425.00 price target for the company in a report on Wednesday, January 15th. Finally, Sanford C. Bernstein lowered their price target on Adobe from $644.00 to $587.00 and set an “outperform” rating for the company in a report on Thursday, December 12th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $570.88.

Adobe Stock Up 1.2 %

ADBE stock opened at $451.24 on Thursday. Adobe Inc. has a twelve month low of $403.75 and a twelve month high of $587.75. The company has a market cap of $196.42 billion, a price-to-earnings ratio of 36.39, a P/E/G ratio of 2.15 and a beta of 1.37. The business has a 50 day moving average price of $439.61 and a two-hundred day moving average price of $488.77. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29.

Adobe (NASDAQ:ADBE) last released its quarterly earnings data 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 company had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.54 billion. During the same period last year, the firm posted $3.52 earnings per share. The business’s revenue was up 11.1% on a year-over-year basis. Analysts anticipate that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Insider Activity

In related news, EVP Scott Belsky sold 3,819 shares of Adobe stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $430.24, for a total transaction of $1,643,086.56. Following the completion of the sale, the executive vice president now directly owns 18,334 shares of the company’s stock, valued at approximately $7,888,020.16. This trade represents a 17.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Jillian Forusz sold 334 shares of Adobe stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total value of $145,567.22. Following the sale, the chief accounting officer now directly owns 2,685 shares of the company’s stock, valued at approximately $1,170,203.55. The trade was a 11.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,681 shares of company stock valued at $2,525,126 over the last three months. Insiders own 0.15% of the company’s stock.

Adobe 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.