6,000 Shares in Adobe Inc. (NASDAQ:ADBE) Bought by Quinn Opportunity Partners LLC

Quinn Opportunity Partners LLC bought a new position in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,000 shares of the software company's stock, valued at approximately $2,668,000.

Several other hedge funds have also recently bought and sold shares of the business. Decker Retirement Planning Inc. acquired a new stake in shares of Adobe in the fourth quarter worth $31,000. Summit Securities Group LLC acquired a new stake in Adobe in the 4th quarter valued at $31,000. Caitlin John LLC raised its position in Adobe by 171.4% in the fourth quarter. Caitlin John LLC now owns 76 shares of the software company's stock valued at $34,000 after purchasing an additional 48 shares during the period. Mascoma Wealth Management LLC lifted its stake in shares of Adobe by 142.9% during the fourth quarter. Mascoma Wealth Management LLC now owns 85 shares of the software company's stock worth $38,000 after purchasing an additional 50 shares in the last quarter. Finally, LFA Lugano Financial Advisors SA purchased a new stake in shares of Adobe in the fourth quarter worth about $38,000. Hedge funds and other institutional investors own 81.79% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Evercore ISI reduced their price target on Adobe from $650.00 to $550.00 and set an "outperform" rating on the stock in a research report on Thursday, March 13th. Oppenheimer reduced their target price on shares of Adobe from $560.00 to $530.00 and set an "outperform" rating on the stock in a research report on Thursday, March 13th. UBS Group lowered their price target on shares of Adobe from $410.00 to $380.00 and set a "neutral" rating for the company in a report on Friday. Bank of America cut their price objective on shares of Adobe from $605.00 to $528.00 and set a "buy" rating on the stock in a report on Thursday, March 13th. Finally, Redburn Atlantic began coverage on Adobe in a research note on Wednesday, February 19th. They set a "neutral" rating for the company. Eleven analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $518.46.

Insider Buying and Selling

In other Adobe news, EVP Scott Belsky sold 3,819 shares of the stock in a transaction 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 transaction, 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Jillian Forusz sold 334 shares of the firm's stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $435.83, for a total value of $145,567.22. Following the transaction, 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. Insiders sold 5,075 shares of company stock valued at $2,191,826 over the last 90 days. 0.16% of the stock is currently owned by company insiders.

Adobe Stock Performance

Shares of ADBE traded up $0.63 during mid-day trading on Tuesday, reaching $351.54. 1,337,866 shares of the company's stock traded hands, compared to its average volume of 3,391,006. Adobe Inc. has a 12 month low of $332.01 and a 12 month high of $587.75. The stock has a market capitalization of $149.83 billion, a P/E ratio of 28.35, a price-to-earnings-growth ratio of 2.15 and a beta of 1.49. The business's 50-day moving average price is $411.27 and its 200-day moving average price is $454.13. 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 - Get Free Report) last announced its earnings results 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 return on equity of 45.87% and a net margin of 25.85%. The firm had revenue of $5.71 billion for the quarter, compared to the consensus estimate of $5.66 billion. During the same quarter in the previous year, the business earned $4.48 EPS. Equities analysts predict that Adobe Inc. will post 16.65 earnings per share for the current year.

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.