Adobe Inc. (NASDAQ:ADBE) Position Raised by Trexquant Investment LP

Trexquant Investment LP boosted its stake in shares of Adobe Inc. (NASDAQ:ADBE - Free Report) by 198.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 110,351 shares of the software company's stock after buying an additional 73,370 shares during the quarter. Adobe makes up approximately 0.6% of Trexquant Investment LP's portfolio, making the stock its 8th largest holding. Trexquant Investment LP's holdings in Adobe were worth $49,071,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in ADBE. State Street Corp boosted its position in Adobe by 1.2% during the third quarter. State Street Corp now owns 20,270,287 shares of the software company's stock worth $10,495,544,000 after purchasing an additional 234,909 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Adobe by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 10,680,375 shares of the software company's stock worth $4,739,788,000 after acquiring an additional 151,286 shares during the period. Norges Bank bought a new position in shares of Adobe in the fourth quarter worth $2,553,035,000. Charles Schwab Investment Management Inc. grew its position in shares of Adobe by 3.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,808,909 shares of the software company's stock valued at $1,249,066,000 after purchasing an additional 92,458 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of Adobe by 7.3% during the 3rd quarter. Franklin Resources Inc. now owns 2,424,024 shares of the software company's stock valued at $1,235,157,000 after purchasing an additional 163,983 shares during the period. Hedge funds and other institutional investors own 81.79% of the company's stock.

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Insider Activity

In related news, Director David A. Ricks bought 2,250 shares of the company's stock in a transaction on Tuesday, January 28th. The shares were acquired at an average cost of $443.98 per share, with a total value of $998,955.00. Following the completion of the acquisition, the director now owns 4,984 shares of the company's stock, valued at $2,212,796.32. The trade was a 82.30 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Daniel Durn purchased 1,300 shares of Adobe stock in a transaction dated Thursday, March 20th. The shares were bought at an average price of $390.58 per share, with a total value of $507,754.00. Following the completion of the acquisition, the chief financial officer now directly owns 29,876 shares of the company's stock, valued at approximately $11,668,968.08. This represents a 4.55 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 5,075 shares of company stock worth $2,191,826. Insiders own 0.16% of the company's stock.

Adobe Stock Down 2.9 %

Shares of ADBE traded down $10.77 on Friday, reaching $356.49. The stock had a trading volume of 2,356,735 shares, compared to its average volume of 3,336,530. 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 $353.12 and a 12-month high of $587.75. The firm has a market capitalization of $151.93 billion, a price-to-earnings ratio of 28.71, a price-to-earnings-growth ratio of 2.15 and a beta of 1.49. The company has a 50-day simple moving average of $427.38 and a 200-day simple moving average of $465.15.

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

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ADBE. Oppenheimer reduced their target price on Adobe from $560.00 to $530.00 and set an "outperform" rating for the company in a report on Thursday, March 13th. Jefferies Financial Group decreased their target price on shares of Adobe from $650.00 to $590.00 and set a "buy" rating on the stock in a report on Monday. Citigroup cut their price target on shares of Adobe from $551.00 to $490.00 and set a "neutral" rating for the company in a report on Monday, March 10th. BMO Capital Markets decreased their price objective on shares of Adobe from $515.00 to $495.00 and set an "outperform" rating on the stock in a research report on Thursday, March 13th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $475.00 price objective (down from $600.00) on shares of Adobe in a research report on Wednesday, January 8th. Eleven research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $531.54.

About Adobe

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.