Capital World Investors Purchases 13,755 Shares of Adobe Inc. (NASDAQ:ADBE)

Capital World Investors grew its position in Adobe Inc. (NASDAQ:ADBE - Free Report) by 3.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 458,495 shares of the software company's stock after purchasing an additional 13,755 shares during the period. Capital World Investors owned approximately 0.11% of Adobe worth $203,884,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Sepio Capital LP boosted its position in Adobe by 2.3% during the 4th quarter. Sepio Capital LP now owns 993 shares of the software company's stock worth $442,000 after acquiring an additional 22 shares during the period. Cadence Bank grew its position in Adobe by 0.5% during the 4th quarter. Cadence Bank now owns 4,883 shares of the software company's stock worth $2,171,000 after purchasing an additional 22 shares in the last quarter. Foster Group Inc. raised its position in Adobe by 4.6% during the fourth quarter. Foster Group Inc. now owns 526 shares of the software company's stock valued at $234,000 after buying an additional 23 shares during the period. Atlantic Edge Private Wealth Management LLC lifted its position in shares of Adobe by 0.4% in the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 5,406 shares of the software company's stock worth $2,404,000 after purchasing an additional 23 shares in the last quarter. Finally, Veery Capital LLC lifted its position in Adobe by 1.9% in the 4th quarter. Veery Capital LLC now owns 1,315 shares of the software company's stock worth $585,000 after buying an additional 24 shares in the last quarter. 81.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on ADBE shares. Wells Fargo & Company dropped their price target on shares of Adobe from $600.00 to $430.00 and set an "overweight" rating on the stock in a research note on Tuesday. Citigroup dropped their price objective on shares of Adobe from $551.00 to $490.00 and set a "neutral" rating for the company in a research note on Monday, March 10th. BNP Paribas raised Adobe from an "underperform" rating to a "neutral" rating and set a $425.00 price objective for the company in a report on Wednesday, January 15th. BMO Capital Markets dropped their price target on Adobe from $495.00 to $450.00 and set an "outperform" rating for the company in a report on Wednesday, April 16th. Finally, Evercore ISI reduced their price objective on Adobe from $650.00 to $550.00 and set an "outperform" rating on the stock in a report on Thursday, March 13th. Eleven investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $502.88.

Adobe Stock Up 1.9 %

ADBE traded up $6.81 on Friday, hitting $367.72. 3,481,023 shares of the company were exchanged, compared to its average volume of 3,429,601. The stock's fifty day moving average is $394.82 and its 200-day moving average is $446.30. Adobe Inc. has a 12 month low of $332.01 and a 12 month high of $587.75. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.07 and a current ratio of 1.07. The company has a market cap of $156.72 billion, a PE ratio of 29.65, a PEG ratio of 2.15 and a beta of 1.49.

Adobe (NASDAQ:ADBE - Get Free Report) last released 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. 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 period last year, the business earned $4.48 earnings per share. Equities research analysts predict that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director David A. Ricks acquired 2,250 shares of the business's stock in a transaction on Tuesday, January 28th. The stock was purchased at an average cost of $443.98 per share, for a total transaction of $998,955.00. Following the completion of the transaction, the director now directly owns 4,984 shares of the company's stock, valued at approximately $2,212,796.32. The trade was a 82.30 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Daniel Durn acquired 1,300 shares of the company's stock in a transaction on Thursday, March 20th. The stock was acquired at an average price of $390.58 per share, with a total value of $507,754.00. Following the purchase, the chief financial officer now directly owns 29,876 shares in the company, valued at approximately $11,668,968.08. This represents a 4.55 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.16% of the stock is currently owned by corporate insiders.

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.