Adobe Inc. (NASDAQ:ADBE) Shares Purchased by Wilson Asset Management International PTY Ltd.

Wilson Asset Management International PTY Ltd. increased its holdings in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 20.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 37,125 shares of the software company's stock after acquiring an additional 6,296 shares during the quarter. Adobe makes up approximately 4.3% of Wilson Asset Management International PTY Ltd.'s holdings, making the stock its 12th biggest holding. Wilson Asset Management International PTY Ltd.'s holdings in Adobe were worth $16,509,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of ADBE. Legacy Investment Solutions LLC bought a new stake in shares of Adobe during the third quarter valued at approximately $26,000. Groupama Asset Managment raised its holdings in shares of Adobe by 28.8% during the third quarter. Groupama Asset Managment now owns 51,482 shares of the software company's stock valued at $27,000 after buying an additional 11,522 shares during the last quarter. MidAtlantic Capital Management Inc. bought a new stake in shares of Adobe during the third quarter valued at approximately $30,000. True Wealth Design LLC raised its holdings in shares of Adobe by 141.7% during the third quarter. True Wealth Design LLC now owns 58 shares of the software company's stock valued at $30,000 after buying an additional 34 shares during the last quarter. Finally, Decker Retirement Planning Inc. bought a new stake in shares of Adobe during the fourth quarter valued at approximately $31,000. Institutional investors and hedge funds own 81.79% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on ADBE shares. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $475.00 price target (down previously from $600.00) on shares of Adobe in a report on Wednesday, January 8th. Jefferies Financial Group dropped their target price on Adobe from $700.00 to $650.00 and set a "buy" rating on the stock in a report on Thursday, December 12th. UBS Group dropped their target price on Adobe from $525.00 to $475.00 and set a "neutral" rating on the stock in a report on Friday, January 3rd. Bank of America dropped their target price on Adobe from $640.00 to $605.00 and set a "buy" rating on the stock in a report on Thursday, December 12th. Finally, Stifel Nicolaus dropped their target price on Adobe from $650.00 to $600.00 and set a "buy" rating on the stock 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 company's stock. According to data from MarketBeat.com, Adobe presently has a consensus rating of "Moderate Buy" and a consensus target price of $563.96.

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Adobe Trading Down 0.3 %

Adobe stock opened at $433.66 on Wednesday. The company's fifty day simple moving average is $439.13 and its 200-day simple moving average is $484.86. 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 Inc. has a 12 month low of $403.75 and a 12 month high of $587.75. The stock has a market cap of $188.82 billion, a P/E ratio of 34.97, a P/E/G ratio of 2.15 and a beta of 1.37.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its quarterly earnings results on Wednesday, December 11th. The software company reported $4.81 EPS for the quarter, beating the consensus estimate of $4.67 by $0.14. Adobe had a net margin of 25.85% and a return on equity of 45.87%. The business had revenue of $5.61 billion for the quarter, compared to analysts' expectations of $5.54 billion. During the same period in the previous year, the company posted $3.52 EPS. Adobe's revenue was up 11.1% on a year-over-year basis. As a group, sell-side analysts forecast that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Insider Activity

In other Adobe news, Director David A. Ricks acquired 2,250 shares of Adobe stock in a transaction that occurred on Tuesday, January 28th. The stock was acquired at an average price of $443.98 per share, with a total value of $998,955.00. Following the purchase, the director now owns 4,984 shares in the company, valued at approximately $2,212,796.32. This trade represents a 82.30 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Scott Belsky sold 922 shares of Adobe stock in a transaction on Friday, January 24th. The shares were sold at an average price of $437.28, for a total transaction of $403,172.16. Following the completion of the sale, the executive vice president now directly owns 22,153 shares of the company's stock, valued at approximately $9,687,063.84. The trade was a 4.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,075 shares of company stock worth $2,191,826 in the last ninety days. Corporate 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.

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