FIL Ltd Has $573.01 Million Stake in Adobe Inc. (NASDAQ:ADBE)

FIL Ltd grew its holdings in Adobe Inc. (NASDAQ:ADBE - Free Report) by 130.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,288,599 shares of the software company's stock after purchasing an additional 730,520 shares during the quarter. FIL Ltd owned about 0.30% of Adobe worth $573,014,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in ADBE. Nordea Investment Management AB boosted its holdings in Adobe by 2.0% in 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 purchasing an additional 33,414 shares during the period. Arizona State Retirement System raised its position in shares of Adobe by 0.4% during the fourth quarter. Arizona State Retirement System now owns 127,696 shares of the software company's stock valued at $56,784,000 after buying an additional 570 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Adobe by 1.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 99,150 shares of the software company's stock valued at $44,090,000 after buying an additional 1,326 shares during the period. M. Kraus & Co bought a new stake in shares of Adobe in the fourth quarter valued at about $3,285,000. Finally, Silicon Valley Capital Partners grew its position in Adobe by 4.1% during the fourth quarter. Silicon Valley Capital Partners now owns 5,972 shares of the software company's stock worth $2,656,000 after buying an additional 236 shares in the last quarter. 81.79% of the stock is currently owned by institutional investors.

Adobe Trading Down 0.0 %

Shares of Adobe stock traded down $0.13 during trading on Friday, reaching $349.92. 1,856,148 shares of the company were exchanged, compared to its average volume of 3,398,648. The business has a 50-day moving average price of $414.76 and a 200-day moving average price of $456.85. The firm has a market capitalization of $149.14 billion, a price-to-earnings ratio of 28.08, a P/E/G ratio of 2.15 and a beta of 1.49. 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 twelve month low of $332.01 and a twelve month high of $587.75.

Adobe (NASDAQ:ADBE - Get Free Report) last posted its earnings results on Wednesday, March 12th. The software company reported $5.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.97 by $0.11. The company had revenue of $5.71 billion during the quarter, compared to analyst estimates 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 company earned $4.48 EPS. Sell-side analysts anticipate that Adobe Inc. will post 16.65 EPS for the current fiscal year.

Insider Buying and Selling at Adobe

In other Adobe news, CFO Daniel Durn acquired 1,300 shares of the firm's stock in a transaction that occurred on Thursday, March 20th. The stock was acquired at an average cost of $390.58 per share, for a total transaction of $507,754.00. Following the transaction, the chief financial officer now owns 29,876 shares of the company's stock, valued at $11,668,968.08. This trade represents a 4.55 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Scott Belsky sold 922 shares of the firm's stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $437.28, for a total transaction of $403,172.16. Following the sale, the executive vice president now owns 22,153 shares in the company, valued at $9,687,063.84. This trade represents a 4.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,075 shares of company stock valued at $2,191,826. Corporate insiders own 0.16% of the company's stock.

Wall Street Analyst Weigh In

ADBE has been the subject of several recent research reports. KeyCorp upgraded Adobe from an "underweight" rating to a "sector weight" rating in a research report on Friday, March 21st. TD Cowen cut Adobe from a "buy" rating to a "hold" rating and reduced their target price for the stock from $625.00 to $550.00 in a research report on Thursday, December 12th. BNP Paribas raised shares of Adobe from an "underperform" rating to a "neutral" rating and set a $425.00 price target on the stock in a report on Wednesday, January 15th. JMP Securities reiterated a "market perform" rating on shares of Adobe in a research report on Thursday, December 12th. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $530.00 price objective on shares of Adobe in a research note on Wednesday, March 19th. Eleven research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target 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.