3,435 Shares in Adobe Inc. (NASDAQ:ADBE) Bought by Headlands Technologies LLC

Headlands Technologies LLC purchased a new position in Adobe Inc. (NASDAQ:ADBE - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 3,435 shares of the software company's stock, valued at approximately $1,527,000.

A number of other hedge funds also recently bought and sold shares of the business. Legacy Investment Solutions LLC purchased a new stake in shares of Adobe during the third quarter worth about $26,000. Groupama Asset Managment boosted its holdings in Adobe by 28.8% in the 3rd quarter. Groupama Asset Managment now owns 51,482 shares of the software company's stock worth $27,000 after buying an additional 11,522 shares during the last quarter. Decker Retirement Planning Inc. purchased a new stake in Adobe during the 4th quarter worth approximately $31,000. Summit Securities Group LLC acquired a new position in shares of Adobe during the fourth quarter valued at approximately $31,000. Finally, Caitlin John LLC lifted its position in shares of Adobe by 171.4% in the fourth quarter. Caitlin John LLC now owns 76 shares of the software company's stock valued at $34,000 after acquiring an additional 48 shares in the last quarter. Hedge funds and other institutional investors own 81.79% of the company's stock.

Insider Activity at Adobe

In other news, CAO Jillian Forusz sold 334 shares of the company's stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $435.83, for a total transaction of $145,567.22. Following the sale, the chief accounting officer now owns 2,685 shares of the company's stock, valued at approximately $1,170,203.55. This represents a 11.06 % decrease 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 3,819 shares of Adobe stock in a transaction on 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 completion of the transaction, the executive vice president now owns 18,334 shares of the company's stock, valued at approximately $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. Over the last quarter, insiders sold 5,075 shares of company stock worth $2,191,826. Corporate insiders own 0.16% of the company's stock.

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Adobe Trading Down 4.8 %

NASDAQ:ADBE traded down $18.53 during trading hours on Thursday, reaching $367.25. 5,319,125 shares of the stock were exchanged, compared to its average volume of 3,336,669. Adobe Inc. has a twelve month low of $365.86 and a twelve month high of $587.75. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.29. The business has a 50-day moving average of $428.78 and a two-hundred day moving average of $465.84. The company has a market capitalization of $156.52 billion, a price-to-earnings ratio of 29.62, a PEG ratio of 2.15 and a beta of 1.49.

Adobe (NASDAQ:ADBE - Get Free Report) last announced its earnings results on Wednesday, March 12th. The software company reported $5.08 EPS for the quarter, beating analysts' consensus estimates 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 last year, the business posted $4.48 EPS. On average, equities analysts predict that Adobe Inc. will post 16.65 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Bank of America dropped their price target on Adobe from $605.00 to $528.00 and set a "buy" rating for the company in a research report on Thursday, March 13th. Wells Fargo & Company reduced their target price on shares of Adobe from $640.00 to $600.00 and set an "overweight" rating for the company in a research report on Friday, March 7th. Citigroup decreased their price target on shares of Adobe from $551.00 to $490.00 and set a "neutral" rating on the stock in a research note on Monday, March 10th. UBS Group set a $495.00 price objective on shares of Adobe in a research note on Thursday, March 13th. Finally, StockNews.com lowered shares of Adobe from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, March 4th. Eleven equities research 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. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $531.54.

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.