APG Asset Management N.V. Increases Holdings in Adobe Inc. (NASDAQ:ADBE)

APG Asset Management N.V. grew its position in Adobe Inc. (NASDAQ:ADBE - Free Report) by 461.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 440,786 shares of the software company's stock after purchasing an additional 362,304 shares during the quarter. APG Asset Management N.V. owned approximately 0.10% of Adobe worth $189,289,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of ADBE. Legacy Investment Solutions LLC acquired a new stake in shares of Adobe during the 3rd quarter worth approximately $26,000. Groupama Asset Managment grew its holdings in Adobe by 28.8% in the third quarter. Groupama Asset Managment now owns 51,482 shares of the software company's stock worth $27,000 after purchasing an additional 11,522 shares during the period. Decker Retirement Planning Inc. bought a new stake in Adobe in the fourth quarter valued at $31,000. Summit Securities Group LLC acquired a new position in shares of Adobe during the fourth quarter valued at about $31,000. Finally, Caitlin John LLC boosted its position in shares of Adobe by 171.4% during the 4th quarter. Caitlin John LLC now owns 76 shares of the software company's stock worth $34,000 after purchasing an additional 48 shares in the last quarter. 81.79% of the stock is currently owned by institutional investors and hedge funds.

Adobe Stock Performance

Shares of NASDAQ ADBE traded up $2.42 during midday trading on Friday, hitting $352.47. The company's stock had a trading volume of 3,940,472 shares, compared to its average volume of 3,408,124. The stock has a fifty day moving average price of $413.00 and a 200 day moving average price of $455.70. The firm has a market capitalization of $150.22 billion, a price-to-earnings ratio of 28.43, a P/E/G ratio of 2.15 and a beta of 1.49. Adobe Inc. has a one year low of $332.01 and a one year high of $587.75. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.29.

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 for the quarter, beating the consensus estimate of $4.97 by $0.11. The company had revenue of $5.71 billion during the quarter, compared to analysts' expectations of $5.66 billion. Adobe had a return on equity of 45.87% and a net margin of 25.85%. During the same period in the previous year, the business earned $4.48 earnings per share. On average, research analysts forecast that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Insider Transactions at Adobe

In other news, EVP Scott Belsky sold 3,819 shares of Adobe stock in a transaction dated 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 sale, the executive vice president now owns 18,334 shares in the company, valued at approximately $7,888,020.16. This trade represents a 17.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Daniel Durn acquired 1,300 shares of the firm's stock in a transaction that occurred on Thursday, March 20th. The stock was bought at an average price of $390.58 per share, for a total transaction of $507,754.00. Following the completion of the transaction, the chief financial officer now owns 29,876 shares of the company's stock, valued at $11,668,968.08. The trade was a 4.55 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 5,075 shares of company stock valued at $2,191,826. 0.16% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

ADBE has been the topic of several recent research reports. UBS Group cut their price target on Adobe from $410.00 to $380.00 and set a "neutral" rating on the stock in a report on Friday. Jefferies Financial Group reduced their price target on shares of Adobe from $650.00 to $590.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $475.00 price target (down previously from $600.00) on shares of Adobe in a research note on Wednesday, January 8th. BNP Paribas raised shares of 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. Finally, Oppenheimer decreased their target price on shares of Adobe from $560.00 to $530.00 and set an "outperform" rating for the company in a research report on Thursday, March 13th. Eleven equities research 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 stock. Based on data from MarketBeat, Adobe currently has a consensus rating of "Moderate Buy" and a consensus target price of $527.12.

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.