Adobe Inc. (NASDAQ:ADBE) Shares Acquired by MML Investors Services LLC

MML Investors Services LLC boosted its holdings in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 40.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 126,039 shares of the software company's stock after purchasing an additional 35,992 shares during the period. MML Investors Services LLC's holdings in Adobe were worth $56,047,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in ADBE. Nordea Investment Management AB boosted its holdings in shares of Adobe by 2.0% during the 4th 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 in the last quarter. Arizona State Retirement System lifted its position in Adobe by 0.4% during the 4th quarter. Arizona State Retirement System now owns 127,696 shares of the software company's stock valued at $56,784,000 after acquiring an additional 570 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in Adobe by 1.4% during 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. M. Kraus & Co purchased a new stake in Adobe in the fourth quarter worth about $3,285,000. Finally, Silicon Valley Capital Partners boosted its holdings in Adobe by 4.1% in the fourth quarter. Silicon Valley Capital Partners now owns 5,972 shares of the software company's stock worth $2,656,000 after acquiring an additional 236 shares in the last quarter. 81.79% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Adobe news, CAO Jillian Forusz sold 334 shares of the business's 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 owns 2,685 shares of the company's stock, valued at $1,170,203.55. The trade was a 11.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Scott Belsky sold 3,819 shares of the firm's stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $430.24, for a total value of $1,643,086.56. Following the transaction, the executive vice president now owns 18,334 shares of the company's stock, valued at $7,888,020.16. This trade represents a 17.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,075 shares of company stock valued at $2,191,826. 0.16% of the stock is currently owned by insiders.

Adobe Trading Up 0.6 %

Shares of NASDAQ ADBE traded up $2.05 during trading on Wednesday, hitting $351.96. 3,165,907 shares of the company were exchanged, compared to its average volume of 3,426,337. 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 Inc. has a 12-month low of $332.01 and a 12-month high of $587.75. The company has a fifty day moving average price of $398.97 and a 200-day moving average price of $447.84. The firm has a market capitalization of $150.01 billion, a PE ratio of 28.38, a P/E/G ratio of 2.15 and a beta of 1.49.

Adobe (NASDAQ:ADBE - Get Free Report) last announced its quarterly earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.97 by $0.11. The business had revenue of $5.71 billion during the quarter, compared to the consensus estimate of $5.66 billion. Adobe had a net margin of 25.85% and a return on equity of 45.87%. During the same quarter last year, the firm earned $4.48 EPS. As a group, equities research analysts expect that Adobe Inc. will post 16.65 EPS for the current year.

Wall Street Analyst Weigh In

ADBE has been the topic of several recent analyst reports. KeyCorp upgraded Adobe from an "underweight" rating to a "sector weight" rating in a research note on Friday, March 21st. Redburn Atlantic began coverage on shares of Adobe in a research report on Wednesday, February 19th. They set a "neutral" rating for the company. Bank of America reduced their target price on shares of Adobe from $605.00 to $528.00 and set a "buy" rating for the company in a report on Thursday, March 13th. Royal Bank of Canada cut their price target on Adobe from $530.00 to $480.00 and set an "outperform" rating for the company in a report on Monday, April 14th. Finally, BNP Paribas raised Adobe from an "underperform" rating to a "neutral" rating and set a $425.00 price objective on the stock in a research note on Wednesday, January 15th. Eleven investment 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 company. According to data from MarketBeat, Adobe presently has an average rating of "Moderate Buy" and a consensus target price of $502.88.

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.