Adobe Inc. (NASDAQ:ADBE) Shares Acquired by IQ EQ FUND MANAGEMENT IRELAND Ltd

IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its stake in shares of Adobe Inc. (NASDAQ:ADBE) by 19.0% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 1,957 shares of the software company’s stock after acquiring an additional 312 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Adobe were worth $870,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in ADBE. LM Advisors LLC increased its stake in shares of Adobe by 14.7% during the fourth quarter. LM Advisors LLC now owns 960 shares of the software company’s stock worth $427,000 after acquiring an additional 123 shares during the period. Delta Asset Management LLC TN boosted its position in Adobe by 3.7% during the fourth quarter. Delta Asset Management LLC TN now owns 24,907 shares of the software company’s stock worth $11,076,000 after acquiring an additional 885 shares during the last quarter. Loomis Sayles & Co. L P boosted its stake in Adobe by 7.2% in the 4th quarter. Loomis Sayles & Co. L P now owns 311,491 shares of the software company’s stock worth $138,514,000 after buying an additional 21,055 shares during the last quarter. NEOS Investment Management LLC boosted its holdings in shares of Adobe by 24.1% in the 4th quarter. NEOS Investment Management LLC now owns 56,250 shares of the software company’s stock valued at $25,013,000 after purchasing an additional 10,924 shares during the last quarter. Finally, Godshalk Welsh Capital Management Inc. acquired a new position in shares of Adobe in the 4th quarter valued at about $227,000. Institutional investors and hedge funds own 81.79% of the company’s stock.

Adobe Trading Down 0.4 %

ADBE opened at $396.15 on Friday. The firm has a market capitalization of $172.49 billion, a price-to-earnings ratio of 31.95, a PEG ratio of 2.15 and a beta of 1.37. Adobe Inc. has a fifty-two week low of $374.50 and a fifty-two week high of $587.75. The company’s 50 day moving average price is $432.69 and its two-hundred day moving average price is $471.70. 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 (NASDAQ:ADBE) last released its quarterly earnings data on Wednesday, March 12th. The software company reported $5.08 earnings per share for the quarter, beating the consensus estimate of $4.97 by $0.11. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The company had revenue of $5.71 billion during the quarter, compared to analyst estimates of $5.66 billion. During the same quarter in the previous year, the business posted $4.48 EPS. As a group, research analysts predict that Adobe Inc. will post 16.65 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Scott Belsky sold 3,819 shares of the business’s stock in a transaction that occurred 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 completion of 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Jillian Forusz sold 334 shares of Adobe stock in a transaction on Tuesday, January 28th. The shares were 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 $1,170,203.55. This represents a 11.06 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,075 shares of company stock valued at $2,191,826. Insiders own 0.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ADBE. Sanford C. Bernstein lowered their target price on Adobe from $644.00 to $587.00 and set an “outperform” rating for the company in a research note on Thursday, December 12th. BMO Capital Markets dropped their target price on shares of Adobe from $515.00 to $495.00 and set an “outperform” rating for the company in a research report on Thursday, March 13th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $475.00 price target (down from $600.00) on shares of Adobe in a research report on Wednesday, January 8th. Stifel Nicolaus decreased their target price on Adobe from $600.00 to $525.00 and set a “buy” rating for the company in a research note on Thursday, March 13th. Finally, Citigroup dropped their price objective 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. Eleven investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Adobe currently has an average rating of “Moderate Buy” and a consensus target price of $533.85.

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.